Acceleron Pharma (XLRN) Gets a Hold Rating from Oppenheimer


Oppenheimer analyst Leah R. Cann maintained a Hold rating on Acceleron Pharma (XLRN) today. The company’s shares opened today at $52.14.

Cann observed:

“While we have not modeled ACE-083 into our outlook for Acceleron by 2022, having received from FDA for Charcot-Marie-Tooth disease could move the time line forward. Preliminary phase II results in CMT disease released earlier this year were very encouraging. and positive results in CMT, as well as positive results for ACE-083 in other settings, we believe this program will continue to advance and will likely become a marketed drug. ACE-083 could provide upside to our outlook. With no currently FDA-approved therapies for patients with CMT, ACE-083 could meet an unmet need.”

According to TipRanks.com, Cann is a 3-star analyst with an average return of 1.8% and a 41.0% success rate. Cann covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, Miragen Therapeutics Inc, and CytomX Therapeutics Inc.

Currently, the analyst consensus on Acceleron Pharma is a Moderate Buy with an average price target of $67.33.

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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 376.1K.

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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.

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