H.C. Wainwright analyst Edward White maintained a Buy rating on Acceleron Pharma (XLRN) today and set a price target of $69. The company’s shares opened today at $40.77.
White said:
“We are raising our price target to $69 from $66 due to the passage of time impact on our NPV model. Our $69 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 of $7.85 to arrive at our price target.”
According to TipRanks.com, White is a 5-star analyst with an average return of 14.7% and a 48.5% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Spectrum Pharmaceuticals, and Aileron Therapeutics Inc.
Acceleron Pharma has an analyst consensus of Strong Buy, with a price target consensus of $64.40, implying a 58.0% upside from current levels. In a report released today, Piper Jaffray also reiterated a Buy rating on the stock with a $74 price target.
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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 344K.
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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.
