The Cann Reiterates Buy Rating for Acceleron Pharma Inc (XLRN)

The Cann Reiterates Buy Rating for Acceleron Pharma Inc (XLRN)

The analysts wrote, “Acceleron Pharma Inc. and Celgene announced today that they have completed target enrollment in the MEDALIST and BELIEVE phase III studies of Luspatercept in patients with myelodysplastic syndromes (MDS) and beta-thalassemia. The companies reiterated that they expect to report top line results from the clinical trials in mid-2018. While these studies enrolled more quickly than we had estimated, the companies are still guiding to top line results in mid-2018, which is consistent with our expectations.””

Acceleron Pharma Inc (NASDAQ:XLRN)‘s stock had its “buy” rating reissued by analysts at Cann in a research note issued to investors on Thursday. They presently have a $40.00 target price on the biopharmaceutical company’s stock. Cann’s price objective indicates a potential upside of 38.79% from the stock’s previous close.

Several other research analysts also recently commented on the company. Credit Suisse Group AG restated a “buy” rating and issued a $46.00 target price on shares of Acceleron Pharma in a research note on Thursday, April 6th. FBR & Co restated a “buy” rating on shares of Acceleron Pharma in a research note on Sunday, March 26th. Zacks Investment Research downgraded Acceleron Pharma from a “hold” rating to a “sell” rating in a research note on Thursday, May 11th. JMP Securities restated an “outperform” rating and issued a $39.00 target price on shares of Acceleron Pharma in a research note on Monday, May 1st. Finally, JPMorgan Chase & Co. started coverage on Acceleron Pharma in a research note on Tuesday, March 14th. They issued a “neutral” rating and a $33.00 target price for the company. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $43.36.

Acceleron Pharma (NASDAQ:XLRN) opened at 28.82 on Thursday. The firm’s market cap is $1.11 billion. Acceleron Pharma has a 1-year low of $23.07 and a 1-year high of $41.69. The company has a 50-day moving average price of $28.78 and a 200-day moving average price of $28.37. Acceleron Pharma (NASDAQ:XLRN) last issued its earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.58) by $0.08. Acceleron Pharma had a negative return on equity of 30.75% and a negative net margin of 229.77%. The company had revenue of $3.71 million during the quarter, compared to the consensus estimate of $3.38 million. During the same quarter in the prior year, the business earned $0.13 EPS. The firm’s revenue for the quarter was down 79.6% compared to the same quarter last year. On average, equities research analysts forecast that Acceleron Pharma will post ($2.60) EPS for the current fiscal year.

Acceleron Pharma (NASDAQ:XLRN) opened at 28.82 on Thursday. The firm’s market cap is $1.11 billion. Acceleron Pharma has a 1-year low of $23.07 and a 1-year high of $41.69. The company has a 50-day moving average price of $28.78 and a 200-day moving average price of $28.37. Several hedge funds have recently added to or reduced their stakes in XLRN. Bessemer Group Inc. boosted its stake in Acceleron Pharma by 3,999.1% in the fourth quarter. Bessemer Group Inc. now owns 4,755 shares of the biopharmaceutical company’s stock valued at $122,000 after buying an additional 4,639 shares during the last quarter. Tudor Investment Corp Et Al boosted its stake in Acceleron Pharma by 24.1% in the fourth quarter. Tudor Investment Corp Et Al now owns 8,389 shares of the biopharmaceutical company’s stock valued at $214,000 after buying an additional 1,631 shares during the last quarter. Bank of Montreal Can acquired a new stake in Acceleron Pharma during the first quarter valued at $237,000. Parametric Portfolio Associates LLC acquired a new stake in Acceleron Pharma during the first quarter valued at $241,000. Finally, Tudor Investment Corp ET AL boosted its stake in Acceleron Pharma by 8.5% in the first quarter. Tudor Investment Corp ET AL now owns 9,105 shares of the biopharmaceutical company’s stock valued at $241,000 after buying an additional 716 shares during the last quarter. 82.57% of the stock is currently owned by hedge funds and other institutional investors.

Acceleron Pharma Company Profile Acceleron Pharma Inc is a clinical-stage biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapeutics to treat serious and rare diseases. Its research focuses on key natural regulators of cellular growth and repair, particularly the Transforming Growth Factor-Beta (TGF-beta), protein superfamily.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:XLRN”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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