Oppenheimer Maintains a Hold Rating on Acceleron Pharma (XLRN)

Oppenheimer analyst Leah R. Cann maintained a Hold rating on Acceleron Pharma (XLRN) yesterday. The company’s shares closed on Friday at $52.93.

Cann noted:

“Results from the BELIEVE study support luspatercept as a potential new treatment for adult patients with β-thalassemia, who require regular red blood cell (RBC) transfusions, and results from MEDALIST support luspatercept in the treatment of patients with lower risk, RS-positive MDS, with RBC transfusion-dependent anemia. The timing of the presentation of the results from BELIEVE and MEDALIST is in line with expectations. These results for luspatercept in beta-thalassemia and in low-risk MDS could provide potential upside to our outlook, which remains unchanged at this time.”

According to TipRanks.com, Cann is a 4-star analyst with an average return of 3.6% and a 42.8% success rate. Cann covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, Miragen Therapeutics Inc, and CytomX Therapeutics Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Acceleron Pharma with a $67.33 average 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 380.1K.

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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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