Market Overview

UPDATE: Piper Jaffray Initiates Coverage on Acceleron Pharma on Promising Anemia and Cancer Play

Share:
Related XLRN
JMP Sees A 'Negative Market Tone' In Biotechnology
Acceleron Reports Publication in Cancer Research Dalantercept Prevents Metastases in Preclinical Studies of Breast Cancer
Multiple Observations On Celgene's Latest Licensing Deals, And Its Valuation (Seeking Alpha)

In a report published Monday, Piper Jaffray analyst Edward A. Tenthoff initiated coverage on Acceleron Pharma (NASDAQ: XLRN) with an Overweight rating and $32.00 price target.

In the report, Piper Jaffray noted, “Acceleron is a biotechnology company focused on developing biotherapeutic drugs that target the TGF-β super family of proteins. The company's anemia drugs, sotatercept and ACE-536, are partnered with Celgene and currently in Phase II Beta-thalassemia and Myelodysplastic Syndromes (MDS) trials. We are most interested in Acceleron's wholly-owned dalantercept, a novel anti-angiogenic agent currently in a Phase I/II trial in renal cell carcinoma (RCC) in combination with axitinib. Acceleron recently completed a successful IPO and Celgene invested $10 million in a concurrent private placement, bringing pro forma cash of ~$126 million. We are initiating coverage of Acceleron with an Overweight rating and $32 price target.”

Acceleron Pharma closed on Friday at $22.12.

Latest Ratings for XLRN

DateFirmActionFromTo
Jun 2015Guggenheim SecuritiesInitiates Coverage onNeutral
Mar 2015CitigroupMaintainsBuy
Mar 2015JMP SecuritiesMaintainsMarket Outperform

View More Analyst Ratings for XLRN
View the Latest Analyst Ratings

Posted-In: Edward A. Tenthoff Piper JaffrayAnalyst Color Initiation Analyst Ratings

 

Related Articles (XLRN)

Around the Web, We're Loving...

Get Benzinga's Newsletters