Acceleron Pharma (XLRN) Received its Third Buy in a Row

After H.C. Wainwright and Citigroup gave Acceleron Pharma (NASDAQ: XLRN) a Buy rating last month, the company received another Buy, this time from Cowen & Co. Analyst Yaron Werber maintained a Buy rating on Acceleron Pharma today and set a price target of $109.00. The company’s shares closed last Monday at $52.87.

According to TipRanks.com, Werber is a 5-star analyst with an average return of 19.6% and a 72.2% success rate. Werber covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, Springworks Therapeutics, and Rocket Pharmaceuticals.

Acceleron Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $67.14, implying a 32.1% upside from current levels. In a report issued on January 17, H.C. Wainwright also maintained a Buy rating on the stock with a $88.00 price target.

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The company has a one-year high of $56.90 and a one-year low of $37.01. Currently, Acceleron Pharma has an average volume of 401.3K.

Based on the recent corporate insider activity of 51 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. Earlier this month, Joseph Zakrzewski, a Director at XLRN bought 18,750 shares for a total of $72,750.

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 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.