Acceleron Pharma (XLRN) Received its Third Buy in a Row

After Morgan Stanley and Oppenheimer gave Acceleron Pharma (NASDAQ: XLRN) a Buy rating last month, the company received another Buy, this time from Cowen & Co. Analyst Yaron Werber maintained a Buy rating on Acceleron Pharma yesterday and set a price target of $109.00. The company’s shares closed last Monday at $86.57, close to its 52-week high of $95.95.

According to TipRanks.com, Werber is a 5-star analyst with an average return of 20.6% and a 67.0% success rate. Werber covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, Springworks Therapeutics, and Rocket Pharmaceuticals.

Currently, the analyst consensus on Acceleron Pharma is a Strong Buy with an average price target of $110.10, a 28.7% upside from current levels. In a report issued on February 18, H.C. Wainwright also reiterated a Buy rating on the stock with a $129.00 price target.

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Based on Acceleron Pharma’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $45.37 million. In comparison, last year the company had a GAAP net loss of $34.73 million.

Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of XLRN in relation to earlier this year. Last month, Joseph Zakrzewski, a Director at XLRN bought 18,750 shares for a total of $72,750.

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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.