BidaskClub upgraded shares of Acceleron Pharma Inc. (NASDAQ:XLRN) from a buy rating to a strong-buy rating in a research note published on Wednesday, July 12th.
Several other research firms have also commented on XLRN. Piper Jaffray Companies boosted their price objective on shares of Acceleron Pharma from $32.00 to $40.00 and gave the stock an overweight rating in a research report on Monday, June 26th. Cann reiterated a hold rating on shares of Acceleron Pharma in a research report on Friday, June 23rd. JMP Securities reiterated an outperform rating and issued a $39.00 price objective on shares of Acceleron Pharma in a research report on Monday, May 1st. Credit Suisse Group reissued a buy rating and issued a $46.00 target price on shares of Acceleron Pharma in a research note on Tuesday, July 4th. Finally, Goldman Sachs Group, Inc. (The) assumed coverage on shares of Acceleron Pharma in a research note on Wednesday, May 17th. They issued a sell rating and a $20.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $41.53.
Shares of Acceleron Pharma (XLRN) traded up 3.11% during midday trading on Wednesday, hitting $34.10. 406,760 shares of the stock were exchanged. The firm’s market cap is $1.32 billion. The firm has a 50-day moving average price of $32.32 and a 200 day moving average price of $28.82. Acceleron Pharma has a 12-month low of $23.07 and a 12-month high of $41.69.
Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.65) by $0.12. Acceleron Pharma had a negative return on equity of 44.67% and a negative net margin of 724.22%. The business had revenue of $3.10 million during the quarter, compared to analysts’ expectations of $3.69 million. During the same quarter in the prior year, the firm earned ($0.59) earnings per share. Acceleron Pharma’s quarterly revenue was down 3.1% on a year-over-year basis. Analysts predict that Acceleron Pharma will post ($2.73) earnings per share for the current fiscal year.
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In related news, EVP Matthew L. Sherman sold 16,000 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $32.00, for a total transaction of $512,000.00. Following the completion of the transaction, the executive vice president now owns 112,400 shares of the company’s stock, valued at $3,596,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevin F. Mclaughlin sold 34,400 shares of the stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $32.00, for a total value of $1,100,800.00. Following the completion of the transaction, the chief financial officer now owns 80,950 shares of the company’s stock, valued at approximately $2,590,400. The disclosure for this sale can be found here. Insiders sold 64,402 shares of company stock worth $2,105,416 over the last ninety days. 3.90% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. bought a new position in shares of Acceleron Pharma during the fourth quarter worth $378,000. State Street Corp raised its stake in shares of Acceleron Pharma by 6.3% in the fourth quarter. State Street Corp now owns 943,174 shares of the biopharmaceutical company’s stock valued at $24,071,000 after buying an additional 56,219 shares during the last quarter. Tudor Investment Corp Et Al raised its stake in shares of 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. Guggenheim Capital LLC bought a new stake in shares of Acceleron Pharma during the fourth quarter valued at approximately $1,695,000. Finally, Norges Bank bought a new stake in shares of Acceleron Pharma during the fourth quarter valued at approximately $8,234,000. 83.65% of the stock is currently owned by institutional investors and hedge funds.
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.
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