Oppenheimer analyst Leah R. Cann maintained a Hold rating on Acceleron Pharma (NASDAQ: XLRN) yesterday. The company’s shares closed yesterday at $48.13.
Cann noted:
“Loss per share was $0.63 compared to our estimated loss of $0.57. The slightly higher than estimated loss was the result of R&D expenses of $24.7 million being 14.6% higher than our estimated $21.5 million. This was partially offset by higher estimated collaboration revenue and higher interest income. There were no other remarkable variances in the quarter. Our outlook for revenue remains basically unchanged. We are making modest adjustments to operating expenses, by increasing estimated R&D expense by nearly 10% per year in 2018-2022.”
According to TipRanks.com, Cann is a 3-star analyst with an average return of 1.2% and a 38.5% success rate. Cann covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, Miragen Therapeutics Inc, and CytomX Therapeutics Inc.
Acceleron Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $67.67.
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Based on Acceleron Pharma’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $28.94 million. In comparison, last year the company had a GAAP net loss of $25.45 million.
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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.
