Analysts’ Opinions Are Mixed on These Healthcare Stocks: Acceleron Pharma (NASDAQ: XLRN) and Incyte Corp (NASDAQ: INCY)

Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on Acceleron Pharma (NASDAQ: XLRN) and Incyte Corp (NASDAQ: INCY).

Acceleron Pharma (NASDAQ: XLRN)

Oppenheimer analyst Leah R. Cann maintained a Hold rating on Acceleron Pharma (NASDAQ: XLRN) today. The company’s shares opened today at $34.97.

R. Cann said:

“While we have not modeled ACE-083 into our outlook for Acceleron by 2022, Fast Track designation has the potential to move the timeline for ACE-083 forward. Based on this and recently released positive results for ACE-083, we believe this program will continue to advance and will likely become a marketed drug.”

According to TipRanks.com, Cann is a 4-star analyst with an average return of 8.6% and a 48.6% 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 $55.50.

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Incyte Corp (NASDAQ: INCY)

Raymond James analyst Reni Benjamin maintained a Buy rating on Incyte Corp (NASDAQ: INCY) today. The company’s shares opened today at $62, close to its 52-week low of $60.94.

Benjamin wrote:

“We are reiterating our Outperform rating for Incyte. This morning, Incyte reported 1Q18 financial results. Key takeaways include: 1) Jakafi continued to grow on a year-over-year basis, with 1Q18 sales of $314 million, in line with consensus estimates; 2) the company reaffirmed the 2018 revenue guidance for Jakafi; 3) the GVHD and cholangiocarcinoma studies are expected to read out in 2018; and 4) most of the epacadostat studies are being discontinued, which, in our opinion, is not surprising given the results seen in the melanoma Phase III trial. 1Q18 total revenues in line with consensus: 1Q revenues totaled $382 million, roughly in line with consensus of $384 million and were slightly greater than our estimate of $375 million.  Jakafi sales in line with consensus: 1Q18 revenues of $314 million were largely in line with consensus of $314 million and slightly greater than our estimate of $309 million.”

According to TipRanks.com, Benjamin is a 3-star analyst with an average return of 2.2% and a 43.1% success rate. Benjamin covers the Healthcare sector, focusing on stocks such as Invivo Therapeutics Holdings, Bellicum Pharmaceuticals, and Asterias Biotherapeutics.

Currently, the analyst consensus on Incyte Corp is Moderate Buy and the average price target is $98, representing a 58.1% upside.

In a report issued on April 17, Credit Suisse also maintained a Buy rating on the stock with a $78 price target.

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Read More on INCY:

Incyte (INCY) Shares Remain Attractive, Says Top Analyst
What’s in Store for Incyte Corporation (INCY) After “Big Time” Clinical Miss? Reni Benjamin Chimes In