Oppenheimer Reaffirms Their Hold Rating on Acceleron Pharma

By Ryan Adsit

In a report released today, Leah R. Cann from Oppenheimer maintained a Hold rating on Acceleron Pharma (NASDAQ: XLRN). The company’s shares closed yesterday at $47.78, close to its 52-week high of $50.

Cann observed:

“While we have not modeled ACE-083 into our outlook for Track designation received in May 2018 has the potential to move the timeline for Status announced today has the potential to positively impact pricing and exclusivity of ACE-083 in the FSHD setting. Based on this development and recently released positive results for ACE-083, we believe this program will continue to advance and will likely become a marketed drug. ACE-083 could provide upside to our outlook.”

According to TipRanks.com, Cann is a 5-star analyst with an average return of 26.9% and a 59.8% success rate. Cann covers the Healthcare sector, focusing on stocks such as Miragen Therapeutics Inc, CytomX Therapeutics Inc, and Crispr Therapeutics AG.

Currently, the analyst consensus on Acceleron Pharma is a Moderate Buy with an average price target of $56.60, which is a 18.5% upside from current levels. In a report issued on June 29, Goldman Sachs also upgraded the stock to Hold with a $40 price target.

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The company has a one-year high of $50 and a one-year low of $29.57. Currently, Acceleron Pharma has an average volume of 435.5K.

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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.