Acceleron Pharma (XLRN) Earns Buy Rating from HC Wainwright
HC Wainwright reiterated their buy rating on shares of Acceleron Pharma (NASDAQ:XLRN) in a report issued on Monday morning. The firm currently has a $72.00 target price on the biopharmaceutical company’s stock.
“Our $72 price target is based on probability-adjusted revenue forecasts for luspatercept, the company’s earlier stage pipeline and estimated year-end cash. We use the net present value of our revenue forecast through 2026, apply a 65% probability of success and a 2.5x price/sales multiple for luspatercept, and our year-end cash estimate to arrive at our price target. We use a 20% discount rate for the pipeline as it is above the marketed products discount rate due to development risks but within the typical range of 15-25% for products in development.”,” HC Wainwright’s analyst commented.
Several other research firms have also recently weighed in on XLRN. BidaskClub cut shares of Acceleron Pharma from a buy rating to a hold rating in a research report on Monday, October 15th. Cann reiterated a hold rating on shares of Acceleron Pharma in a research report on Wednesday, October 31st. Morgan Stanley initiated coverage on shares of Acceleron Pharma in a research report on Monday, September 10th. They set an equal weight rating and a $55.00 price objective for the company. Finally, Piper Jaffray Companies upgraded shares of Acceleron Pharma from a neutral rating to an overweight rating and increased their price objective for the stock from $52.00 to $75.00 in a research report on Monday, September 17th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $56.20.
Acceleron Pharma (NASDAQ:XLRN) last announced its quarterly earnings results on Tuesday, October 30th. The biopharmaceutical company reported ($0.63) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.66) by $0.03. Acceleron Pharma had a negative net margin of 807.36% and a negative return on equity of 32.69%. The firm had revenue of $3.30 million during the quarter, compared to analysts’ expectations of $4.37 million. During the same period in the prior year, the company posted ($0.65) EPS. The company’s revenue was up 10.0% on a year-over-year basis. Equities research analysts predict that Acceleron Pharma will post -2.51 earnings per share for the current year.
A number of large investors have recently bought and sold shares of XLRN. FMR LLC grew its holdings in Acceleron Pharma by 56.6% in the third quarter. FMR LLC now owns 6,900,369 shares of the biopharmaceutical company’s stock worth $394,909,000 after purchasing an additional 2,494,546 shares during the period. Janus Henderson Group PLC acquired a new stake in Acceleron Pharma in the second quarter worth $59,835,000. Vanguard Group Inc. grew its holdings in Acceleron Pharma by 33.0% in the third quarter. Vanguard Group Inc. now owns 3,425,363 shares of the biopharmaceutical company’s stock worth $196,034,000 after purchasing an additional 849,608 shares during the period. BlackRock Inc. grew its holdings in Acceleron Pharma by 4.3% in the second quarter. BlackRock Inc. now owns 4,205,069 shares of the biopharmaceutical company’s stock worth $204,030,000 after purchasing an additional 175,010 shares during the period. Finally, Stanley Laman Group Ltd. acquired a new stake in Acceleron Pharma in the third quarter worth $7,155,000. Institutional investors and hedge funds own 95.78% of the company’s stock.
About Acceleron Pharma
Acceleron Pharma Inc, a clinical stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics to treat serious and rare diseases. Its therapeutic candidates include luspatercept, which is in Phase III clinical trials for the treatment of myelodysplastic syndromes and beta-thalassemia; Phase II clinical trials for the treatment of patients with transfusion-dependent beta-thalassemia and myelofibrosis.
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