H.C. Wainwright Believes Acceleron Pharma (NASDAQ: XLRN) Still Has Room to Grow

By Austin Angelo

Acceleron Pharma (NASDAQ: XLRN) received a Buy rating from H.C. Wainwright analyst Edward White today. The company’s shares closed yesterday at $38.76, close to its 52-week high of $41.69.

According to TipRanks.com, White is a 5-star analyst with an average return of 22.0% and a 53.5% success rate. White covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics Inc, Syndax Pharmaceuticals Inc, and Spectrum Pharmaceuticals.

Currently, the analyst consensus on Acceleron Pharma is Moderate Buy and the average price target is $42.25, representing a 9.0% upside.

In a report issued on October 6, Piper Jaffray also reiterated a Buy rating on the stock with a $40 price target.

Based on Acceleron Pharma’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $3.06 million and GAAP net loss of $29.67 million. In comparison, last year the company earned revenue of $3.01 million and had a GAAP net loss of $20.77 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, Ravindra Kumar, the VP & Chief Scientific Officer of XLRN bought 6,761 shares for a total of $35,698.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Acceleron Pharma, Inc. is a clinical stage biopharmaceutical company focused on the discovery, development and commercialization of therapeutics to treat serious and rare diseases. Its product candidates include Luspatercept, designed to promote red blood cell production; dalantercept, for the treatment of patients with renal cell carcinoma; and ACE-083, designed for the treatment of focal muscle disorders. The company was founded by John L. Knopf and Thomas P. Maneates in June 2003 and is headquartered in Cambridge, MA.