Oppenheimer Keeps a Hold Rating on Acceleron Pharma

In a report released today, Leah R. Cann from Oppenheimer maintained a Hold rating on Acceleron Pharma (NASDAQ: XLRN). The company’s shares closed yesterday at $36.05.

Cann wrote:

“These data from the phase II PACE study are even slightly better than those presented in December 2017, and encouraging for use of luspatercept in low-risk MDS, with clinically meaningful durable erythroid response and transfusion independence achieved. We believe this data are supportive, and potentially predictive, of positive outcomes for the ongoing phase III MEDALIST and planned COMMANDS studies, and supports our outlook for luspatercept in MDS. These studies could provide upside to our outlook, which remains unchanged at this time. Acceleron reiterated that top- line results from the MEDALIST phase III study are on track for the middle of 2018, and the COMMANDS phase III study in first-line, lower-risk MDS to be initiated in Q3 2018.”

According to TipRanks.com, Cann is a 5-star analyst with an average return of 18.2% and a 61.6% 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 $62.

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Based on Acceleron Pharma’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $26.22 million. In comparison, last year the company had a GAAP net loss of $25.41 million.

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.

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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.