Lord Abbett & CO. LLC cut its stake in shares of Acceleron Pharma Inc. (NASDAQ:XLRN) by 1.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 87,943 shares of the biopharmaceutical company’s stock after selling 1,488 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.23% of Acceleron Pharma worth $2,673,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Birchview Capital LP acquired a new position in Acceleron Pharma during the 2nd quarter worth about $456,000. AXA bought a new position in shares of Acceleron Pharma in the 2nd quarter worth about $9,833,000. Swiss National Bank raised its position in shares of Acceleron Pharma by 8.4% in the 2nd quarter. Swiss National Bank now owns 50,300 shares of the biopharmaceutical company’s stock worth $1,529,000 after acquiring an additional 3,900 shares in the last quarter. Teachers Advisors LLC raised its position in shares of Acceleron Pharma by 2.1% in the 1st quarter. Teachers Advisors LLC now owns 46,080 shares of the biopharmaceutical company’s stock worth $1,220,000 after acquiring an additional 942 shares in the last quarter. Finally, TD Asset Management Inc. raised its position in shares of Acceleron Pharma by 0.8% in the 2nd quarter. TD Asset Management Inc. now owns 78,800 shares of the biopharmaceutical company’s stock worth $2,395,000 after acquiring an additional 600 shares in the last quarter. 77.46% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on the company. BidaskClub raised Acceleron Pharma from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 6th. Zacks Investment Research raised Acceleron Pharma from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Thursday, July 13th. Credit Suisse Group set a $35.00 target price on Acceleron Pharma and gave the company a “buy” rating in a research report on Saturday, August 5th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $40.00 target price on shares of Acceleron Pharma in a research report on Friday, July 28th. Finally, Citigroup Inc. boosted their target price on Acceleron Pharma to $44.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $43.65.
Shares of Acceleron Pharma Inc. (XLRN) opened at 39.00 on Wednesday. Acceleron Pharma Inc. has a one year low of $23.07 and a one year high of $41.69. The firm’s 50-day moving average price is $37.77 and its 200-day moving average price is $33.16. The company’s market capitalization is $1.51 billion.
Acceleron Pharma (NASDAQ:XLRN) last announced its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.65) by ($0.12). Acceleron Pharma had a negative net margin of 724.22% and a negative return on equity of 44.67%. The business had revenue of $3.10 million for the quarter, compared to the consensus estimate of $3.69 million. During the same period in the prior year, the business posted ($0.59) EPS. Acceleron Pharma’s revenue for the quarter was down 3.1% on a year-over-year basis. Analysts anticipate that Acceleron Pharma Inc. will post ($2.69) earnings per share for the current year.
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In other Acceleron Pharma news, SVP Ravindra Kumar sold 13,065 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $35.41, for a total transaction of $462,631.65. Following the completion of the transaction, the senior vice president now owns 108,392 shares of the company’s stock, valued at $3,838,160.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Corp /De/ Celgene bought 745,592 shares of the firm’s stock in a transaction on Monday, September 25th. The shares were acquired at an average cost of $37.00 per share, with a total value of $27,586,904.00. Following the purchase, the insider now directly owns 6,118,479 shares of the company’s stock, valued at approximately $226,383,723. The disclosure for this purchase can be found here. Insiders have sold 66,578 shares of company stock valued at $2,518,117 in the last ninety days. Insiders own 3.90% of the company’s stock.
Acceleron Pharma 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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