Acceleron Pharma (XLRN) Receives a Buy from H.C. Wainwright

In a report released today, Edward White from H.C. Wainwright maintained a Buy rating on Acceleron Pharma (XLRNResearch Report), with a price target of $88.00. The company’s shares closed last Monday at $56.25, close to its 52-week high of $56.90.

According to TipRanks.com, White is a top 100 analyst with an average return of 27.0% and a 54.5% success rate. White covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Karyopharm Therapeutics, and TRACON Pharmaceuticals.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Acceleron Pharma with a $65.67 average 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 366.3K.

Based on the recent corporate insider activity of 42 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.

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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.