Acceleron Pharma Inc (XLRN) Rating Reiterated by Credit Suisse Group AG

Credit Suisse Group AG reaffirmed their buy rating on shares of Acceleron Pharma Inc (NASDAQ:XLRN) in a report issued on Thursday. The brokerage currently has a $46.00 price target on the biopharmaceutical company’s stock.

XLRN has been the subject of a number of other research reports. Zacks Investment Research downgraded Acceleron Pharma from a hold rating to a sell rating in a report on Wednesday, January 11th. Cann initiated coverage on Acceleron Pharma in a report on Monday, December 12th. They set an outperform rating and a $44.00 target price for the company. Oppenheimer Holdings Inc. initiated coverage on Acceleron Pharma in a report on Tuesday, December 13th. They set an outperform rating and a $44.00 target price for the company. Nomura initiated coverage on Acceleron Pharma in a report on Wednesday, March 1st. They set a buy rating for the company. Finally, Citigroup Inc raised Acceleron Pharma from a neutral rating to a buy rating and decreased their target price for the stock from $40.00 to $36.00 in a report on Thursday, March 2nd. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $46.00.

Shares of Acceleron Pharma (NASDAQ:XLRN) opened at 28.37 on Thursday. The stock’s 50 day moving average is $27.79 and its 200-day moving average is $28.87. The company’s market cap is $1.09 billion. Acceleron Pharma has a one year low of $23.07 and a one year high of $41.69.

Acceleron Pharma (NASDAQ:XLRN) last issued its quarterly earnings results on Wednesday, March 1st. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.04. The business earned $3.37 million during the quarter, compared to the consensus estimate of $3.74 million. Acceleron Pharma had a negative return on equity of 30.75% and a negative net margin of 229.77%. The company’s quarterly revenue was down 11.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.81) earnings per share. Equities research analysts forecast that Acceleron Pharma will post ($2.27) earnings per share for the current year.

WARNING: This article was first posted by Community Financial News and is the property of of Community Financial News. If you are viewing this article on another website, it was illegally copied and reposted in violation of U.S. & international copyright and trademark laws. The correct version of this article can be accessed at https://www.com-unik.info/2017/04/21/acceleron-pharmas-xlrn-buy-rating-reaffirmed-at-credit-suisse-group-ag-updated.html.

Several hedge funds have recently modified their holdings of XLRN. Morgan Stanley boosted its stake in shares of Acceleron Pharma by 1,540.3% in the third quarter. Morgan Stanley now owns 811,749 shares of the biopharmaceutical company’s stock valued at $29,378,000 after buying an additional 762,262 shares during the last quarter. Laurion Capital Management LP purchased a new stake in shares of Acceleron Pharma during the third quarter valued at approximately $24,971,000. Perceptive Advisors LLC purchased a new stake in shares of Acceleron Pharma during the fourth quarter valued at approximately $15,822,000. Loomis Sayles & Co. L P purchased a new stake in shares of Acceleron Pharma during the fourth quarter valued at approximately $9,453,000. Finally, Novo A S boosted its stake in shares of Acceleron Pharma by 37.2% in the fourth quarter. Novo A S now owns 1,240,173 shares of the biopharmaceutical company’s stock valued at $31,649,000 after buying an additional 336,340 shares during the last quarter. Hedge funds and other institutional investors own 82.57% of the company’s stock.

About Acceleron Pharma

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.

5 Day Chart for NASDAQ:XLRN

What are top analysts saying about Acceleron Pharma Inc? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Acceleron Pharma Inc and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit