Acceleron Pharma (XLRN) Stock Rating Reaffirmed by Cann

Cann reiterated their hold rating on shares of Acceleron Pharma (NASDAQ:XLRN) in a research report sent to investors on Monday.

“Acceleron announced today preliminary results from the first two cohorts in Part 1 of the phase II clinical study of ACE-083 in patients with facioscapulohumeral dystrophy (FSHD). Results from the tibialis anterior cohort demonstrated patients treated with ACE-083 generated a mean total muscle volume increase of 12.6%; this was associated with a mean improvement in muscle fat fraction of 5.3%. Results from the biceps brachii cohort of the studyl demonstrated patients treated with ACE-083 generated a mean total muscle volume gain of 13.2%; this was associated with a mean improvement in muscle fat fraction of 0.6%.”,” Cann’s analyst wrote.

Other analysts also recently issued research reports about the company. HC Wainwright started coverage on Acceleron Pharma in a research note on Thursday, October 12th. They set a buy rating and a $57.00 target price on the stock. Credit Suisse Group set a $51.00 target price on Acceleron Pharma and gave the company a buy rating in a research note on Tuesday, November 14th. UBS Group reissued a buy rating and set a $50.00 target price (up previously from $36.00) on shares of Acceleron Pharma in a research note on Tuesday, September 12th. BidaskClub raised Acceleron Pharma from a hold rating to a buy rating in a research note on Wednesday, December 27th. Finally, Oppenheimer reissued a hold rating on shares of Acceleron Pharma in a research note on Monday, December 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $44.56.

Shares of Acceleron Pharma (XLRN) traded up $1.78 on Monday, reaching $43.80. The company had a trading volume of 486,582 shares, compared to its average volume of 338,833. The company has a market cap of $1,850.00, a P/E ratio of -16.98 and a beta of 1.59. Acceleron Pharma has a 52 week low of $23.07 and a 52 week high of $44.80.

Acceleron Pharma (NASDAQ:XLRN) last issued its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.67) by $0.02. The company had revenue of $3.00 million for the quarter, compared to the consensus estimate of $3.52 million. Acceleron Pharma had a negative return on equity of 40.70% and a negative net margin of 759.34%. The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the company earned ($0.55) EPS. equities analysts predict that Acceleron Pharma will post -2.65 EPS for the current fiscal year.

In other news, Director Jean George sold 105,122 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $35.73, for a total transaction of $3,756,009.06. Following the transaction, the director now owns 1,250 shares of the company’s stock, valued at approximately $44,662.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kevin F. Mclaughlin sold 19,000 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $42.89, for a total value of $814,910.00. Following the transaction, the chief financial officer now directly owns 45,300 shares in the company, valued at approximately $1,942,917. The disclosure for this sale can be found here. In the last ninety days, insiders sold 135,021 shares of company stock worth $5,034,598. Corporate insiders own 3.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in XLRN. Schwab Charles Investment Management Inc. increased its position in shares of Acceleron Pharma by 9.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 143,842 shares of the biopharmaceutical company’s stock valued at $4,372,000 after purchasing an additional 12,001 shares during the last quarter. Rhumbline Advisers increased its position in shares of Acceleron Pharma by 15.3% during the 2nd quarter. Rhumbline Advisers now owns 37,217 shares of the biopharmaceutical company’s stock valued at $1,131,000 after purchasing an additional 4,945 shares during the last quarter. State of Wisconsin Investment Board bought a new position in shares of Acceleron Pharma during the 2nd quarter valued at approximately $699,000. Bank of New York Mellon Corp increased its position in shares of Acceleron Pharma by 15.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 138,561 shares of the biopharmaceutical company’s stock valued at $4,211,000 after purchasing an additional 18,269 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Acceleron Pharma by 9.7% during the 2nd quarter. Legal & General Group Plc now owns 10,470 shares of the biopharmaceutical company’s stock valued at $318,000 after purchasing an additional 923 shares during the last quarter. 85.70% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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