RBC Capital Reiterates a Hold Rating on Acceleron Pharma

By Jason Carr

In a report issued on July 9, Kennen MacKay from RBC Capital reiterated a Hold rating on Acceleron Pharma (NASDAQ: XLRN), with a price target of $48. The company’s shares opened today at $47.11, close to its 52-week high of $50.

According to TipRanks.com, MacKay is a 5-star analyst with an average return of 21.4% and a 64.3% success rate. MacKay covers the Healthcare sector, focusing on stocks such as Spark Therapeutics, Clovis Oncology, and Prothena Corp.

Currently, the analyst consensus on Acceleron Pharma is a Moderate Buy with an average price target of $55.17, which is a 17.1% 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 428K.

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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.