Acceleron Pharma (XLRN) Received its Third Buy in a Row

After Piper Jaffray and H.C. Wainwright gave Acceleron Pharma (NASDAQ: XLRN) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Leland Gershell initiated coverage with a Buy rating on Acceleron Pharma yesterday and set a price target of $59. The company’s shares closed on Thursday at $39.69.

Gershell observed:

“We assume coverage of XLRN with an Outperform rating and 12- to 18- month $59 PT. Distinguished by expertise in targeting the TGF-β protein superfamily and impressive in-house drug discovery capabilities, XLRN is on the cusp of generating revenue from product sales (through partner CELG) as well as entering a period of key pipeline newsflow. Next year, we expect US/EU approval of luspatercept for anemia in two significant unmet medical needs, MDS and β-thalassemia, for which we view XLRN’s $2B peak sales guidance as conservative. We believe potential in myelofibrosis (Ph 2 data in 2H19) is under-appreciated by investors (we see $600M+ sales), and clinical proof-of-concept in wholly owned neuromuscular and pulmonary franchises could lead us to begin assigning value to these opportunities.”

According to, Gershell is a 4-star analyst with an average return of 11.3% and a 49.2% success rate. Gershell covers the Healthcare sector, focusing on stocks such as BioMarin Pharmaceutical Inc., Anchiano Therapeutics Ltd, and Miragen Therapeutics Inc.

Acceleron Pharma has an analyst consensus of Strong Buy, with a price target consensus of $72.67.

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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 411.5K.

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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.

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