In a report released today, Edward White from H.C. Wainwright initiated coverage with a Buy rating on Acceleron Pharma (XLRN) and a price target of $137.00. The company’s shares closed last Friday at $110.60, close to its 52-week high of $114.87.
According to TipRanks.com, White is a 5-star analyst with an average return of 24.2% and a 49.1% success rate. White covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Karyopharm Therapeutics, and TRACON Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Acceleron Pharma with a $128.50 average price target, representing a 13.5% upside. In a report issued on September 24, Raymond James also maintained a Buy rating on the stock.
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Based on Acceleron Pharma’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $39.75 million and GAAP net loss of $18.45 million. In comparison, last year the company earned revenue of $27.67 million and had a GAAP net loss of $17.86 million.
Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is neutral on the stock.
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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. Maniatis in June 2003 and is headquartered in Cambridge, MA.
