Pictet Asset Management Ltd. Has $23.50 Million Stake in Acceleron Pharma Inc. (XLRN)

Pictet Asset Management Ltd. lowered its stake in shares of Acceleron Pharma Inc. (NASDAQ:XLRN) by 5.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 629,807 shares of the biopharmaceutical company’s stock after selling 34,338 shares during the period. Pictet Asset Management Ltd. owned 1.63% of Acceleron Pharma worth $23,504,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. State of New Jersey Common Pension Fund D raised its stake in shares of Acceleron Pharma by 194.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 53,000 shares of the biopharmaceutical company’s stock worth $1,978,000 after purchasing an additional 35,000 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of Acceleron Pharma by 108.9% during the 3rd quarter. Nationwide Fund Advisors now owns 51,678 shares of the biopharmaceutical company’s stock worth $1,929,000 after purchasing an additional 26,941 shares in the last quarter. Fox Run Management L.L.C. raised its stake in shares of Acceleron Pharma by 111.2% during the 3rd quarter. Fox Run Management L.L.C. now owns 30,200 shares of the biopharmaceutical company’s stock worth $1,127,000 after purchasing an additional 15,900 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Acceleron Pharma by 5.2% during the 2nd quarter. California State Teachers Retirement System now owns 56,795 shares of the biopharmaceutical company’s stock worth $1,726,000 after purchasing an additional 2,826 shares in the last quarter. Finally, Platinum Investment Management Ltd. raised its stake in shares of Acceleron Pharma by 58.3% during the 2nd quarter. Platinum Investment Management Ltd. now owns 69,000 shares of the biopharmaceutical company’s stock worth $2,096,000 after purchasing an additional 25,400 shares in the last quarter. Institutional investors own 77.46% of the company’s stock.

XLRN has been the topic of a number of research analyst reports. Credit Suisse Group set a $35.00 price target on Acceleron Pharma and gave the company a “buy” rating in a research note on Saturday, August 5th. Cann restated a “hold” rating on shares of Acceleron Pharma in a research note on Tuesday, September 5th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Acceleron Pharma in a research note on Tuesday, September 5th. BidaskClub lowered Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Zacks Investment Research raised Acceleron Pharma from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a report on Thursday, July 13th. Two analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Acceleron Pharma currently has a consensus rating of “Buy” and an average price target of $43.65.

In other news, SVP Ravindra Kumar sold 13,065 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was 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 directly owns 108,392 shares in the company, valued at $3,838,160.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP John D. Quisel sold 5,113 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $38.42, for a total value of $196,441.46. Following the transaction, the senior vice president now owns 57,918 shares of the company’s stock, valued at $2,225,209.56. The disclosure for this sale can be found here. Insiders sold 66,578 shares of company stock valued at $2,518,117 over the last quarter. Corporate insiders own 3.90% of the company’s stock.

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Shares of Acceleron Pharma Inc. (XLRN) opened at $37.04 on Friday. Acceleron Pharma Inc. has a 12 month low of $23.07 and a 12 month high of $41.69.

Acceleron Pharma (NASDAQ:XLRN) last posted its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.65) by ($0.12). The firm had revenue of $3.10 million during the quarter, compared to the consensus estimate of $3.69 million. Acceleron Pharma had a negative net margin of 724.22% and a negative return on equity of 44.67%. Acceleron Pharma’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.59) earnings per share. research analysts expect that Acceleron Pharma Inc. will post -2.71 EPS for the current fiscal year.

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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Institutional Ownership by Quarter for Acceleron Pharma (NASDAQ:XLRN)

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