In a report released today, Edward White from H.C. Wainwright assigned a Buy rating to Acceleron Pharma (NASDAQ: XLRN), with a price target of $69. The company’s shares closed yesterday at $35.07.
White said:
“We believe investors should continue to focus on the luspatercept Phase 3 MEDALIST and BELIEVE studies and the ongoing Phase 2 studies for ACE-083 in facioscapulohumeral muscular dystrophy (FSHD) and Charcot-Marie-Tooth (CMT) disease. Preliminary top-line results from the PULSAR Phase 2 study are expected in 1H20.”
According to TipRanks.com, White is a 5-star analyst with an average return of 26.3% and a 55.0% success rate. White covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Synthetic Biologics Inc, and Karyopharm Therapeutics.
Currently, the analyst consensus on Acceleron Pharma is Moderate Buy and the average price target is $55.50, representing a 58.3% upside.
In a report issued on May 9, Credit Suisse also maintained a Buy rating on the stock with a $55 price target.
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The company has a one-year high of $46.93 and a one-year low of $24.37. Currently, Acceleron Pharma has an average volume of 306.3K.
Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is neutral on the stock. Most recently, in March 2018, Tom Maniatis, a Director at XLRN bought 18,750 shares for a total of $95,250.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
