Acceleron Pharma Price Target Raised by Leerink

Acceleron Pharma had its price target raised to $55 from $50 by analysts at Leerink a day after the company reported a fourth quarter net loss of 51 cents per share that was narrower than analysts’ expectations of a 57 cent per share loss. There’s little to substantiate the president-elect’s claim that he will bring drug prices down, but biotech investors are trading anyway.