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Currently, the analyst consensus on Acceleron Pharma is Moderate Buy and the average price target is $35.67, representing a 31.6% upside.
In a report issued on May 8, Oppenheimer 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 March 31, the company posted quarterly revenue of $3.71 million and GAAP net loss of $25.41 million. In comparison, last year the company earned revenue of $18.2 million and had a net profit of $5.06 million.
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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.