In a report released today, Edward White from H.C. Wainwright maintained a Buy rating on Acceleron Pharma (NASDAQ: XLRN), with a price target of $72. The company’s shares closed yesterday at $48.13.
White said:
“We are lowering our price target to $72, from $73, due to our lower YE18 cash estimate. The price target is based on probability-adjusted revenue forecasts for luspatercept, the company’s earlier stage pipeline and estimated year-end cash. We use the net present value of our revenue forecast through 2026, apply a 65% probability of success and a 2.5x price/sales multiple for luspatercept, and our year-end cash estimate to arrive at our price target.”
According to TipRanks.com, White is a 5-star analyst with an average return of 12.8% and a 44.0% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Spectrum Pharmaceuticals, and Synthetic Biologics Inc.
Acceleron Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $63.50.
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The company has a one-year high of $59.59 and a one-year low of $32.53. Currently, Acceleron Pharma has an average volume of 345.5K.
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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.
