After Cowen & Co. and Piper Jaffray gave Acceleron Pharma (NASDAQ: XLRN) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Edward White reiterated a Buy rating on Acceleron Pharma today and set a price target of $88.00. The company’s shares closed last Monday at $43.28.
According to TipRanks.com, White is a 5-star analyst with an average return of 15.5% and a 51.0% success rate. White covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Karyopharm Therapeutics, and TRACON Pharmaceuticals.
Acceleron Pharma has an analyst consensus of Strong Buy, with a price target consensus of $61.00, implying a 50.4% upside from current levels. In a report issued on October 29, Cowen & Co. also reiterated a Buy rating on the stock with a $78.00 price target.
Based on Acceleron Pharma’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $45.37 million. In comparison, last year the company had a GAAP net loss of $28.98 million.
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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.