Acceleron Pharma Receives a Buy from Leerink Swann

By Austin Angelo

Leerink Swann analyst Geoff Porges reiterated a Buy rating on Acceleron Pharma (NASDAQ: XLRN) today and set a price target of $50. The company’s shares opened today at $34.12.

According to TipRanks.com, Porges is ranked 0 out of 5 stars with an average return of -4.9% and a 20.9% success rate. Porges covers the Healthcare sector, focusing on stocks such as Alexion Pharmaceuticals, Theravance Biopharma, and Johnson & Johnson.

Acceleron Pharma has an analyst consensus of Strong Buy, with a price target consensus of $41.

Based on Acceleron Pharma’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $3.01 million and GAAP net loss of $20.77 million. In comparison, last year the company earned revenue of $4.16 million and had a GAAP net loss of $11.86 million.

Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock. Last month, Jean George, a Director at XLRN sold 453,505 shares for a total of $17,410,249.

Acceleron Pharma, Inc. is a clinical stage biopharmaceutical company. It focuses on the discovery, development and commercialization of novel protein therapeutics for cancer and rare diseases. The company was founded by John L. Knopf and Thomas P. Maniatis in June 2003 and is headquartered in Cambridge, MA.