Acceleron Pharma Receives a Hold from Oppenheimer

In a report released today, Leah R. Cann from Oppenheimer maintained a Hold rating on Acceleron Pharma (NASDAQ: XLRN). The company’s shares opened today at $35.94.

Cann noted:

“These data from the phase II PACE study are additive to the results presented in early 2018 ASCO meeting, which were even slightly better than those presented in December 2017 at ASH. These most recent results are encouraging for use of luspatercept in low-risk MDS, with meaningful increase in hemoglobin and performance status, along with durable erythroid response and transfusion independence being achieved. We believe these data are supportive, and potentially predictive, of positive outcomes for the ongoing phase III MEDALIST, anticipated mid- year, and planned COMMANDS studies, and support our outlook for luspatercept in MDS. These studies could provide upside to our outlook, which remains unchanged at this time.”

According to TipRanks.com, Cann is a 5-star analyst with an average return of 23.8% and a 61.5% 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 $62.

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The company has a one-year high of $46.93 and a one-year low of $28.50. Currently, Acceleron Pharma has an average volume of 298.9K.

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of XLRN in relation to earlier this year. 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.