Leerink Partners analyst Geoff Porges maintained a Buy rating on Acceleron Pharma (XLRN) today and set a price target of $138.00. The company’s shares closed last Friday at $110.80, close to its 52-week high of $124.01.
According to TipRanks.com, Porges is a 3-star analyst with an average return of 3.3% and a 46.8% success rate. Porges covers the Healthcare sector, focusing on stocks such as Alexion Pharmaceuticals, Vertex Pharmaceuticals, and Pandion Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Acceleron Pharma with a $132.43 average price target, a 17.4% upside from current levels. In a report released today, Raymond James also maintained a Buy rating on the stock with a $155.00 price target.
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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.
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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.
