Acceleron Pharma Initiated with a Hold at Oppenheimer

Oppenheimer analyst Leah R. Cann initiated coverage with a Hold rating on Acceleron Pharma (NASDAQ: XLRN) today. The company’s shares closed yesterday at $35.07.

Cann wrote:

“We believe the initiation of the PULSAR study is an important development for Acceleron. The study was previously expected to initiate in the Q2 2018 with top line data expected in H1 2020. The company has previously provided a strong scientific and clinical rationale for studying sotatercept in this setting, which was detailed in our note from Acceleron webinar. PAH is a setting with great unmet need and could provide an important market for Acceleron. Based on the timing of PULSAR, we do not anticipate revenue impact to Acceleron by 2022. However, we believe this program could provide a meaningful growth opportunity after 2022; as a result, we are not making any changes to our estimates or outlook.”

According to TipRanks.com, Cann is a 5-star analyst with an average return of 17.7% and a 61.2% success rate. Cann covers the Healthcare sector, focusing on stocks such as Miragen Therapeutics Inc, CytomX Therapeutics Inc, and Crispr Therapeutics AG.

Acceleron Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $56.67.

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The company has a one-year high of $46.93 and a one-year low of $24.37. Currently, Acceleron Pharma has an average volume of 306.3K.

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is neutral on the stock. Most recently, in March 2018, Tom Maniatis, a Director at XLRN bought 18,750 shares for a total of $95,250.

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Acceleron Pharma, Inc. is a biopharmaceutical company, which engages in the discovery, development, and commercialization of therapeutics to treat serious and rare diseases. Its product candidates include Luspatercept, designed to patients with chronic anemia associated within a wide range of blood diseases; ACE-083, designed for the treatment of focal muscle disorders; and Sotatercept, designed to treat pulmonary arterial hypertension. The company was founded by John L. Knopf and Thomas P. Maneates in June 2003 and is headquartered in Cambridge, MA.