Acceleron Pharma (NASDAQ:XLRN) Lifted to Sell at BidaskClub

BidaskClub upgraded shares of Acceleron Pharma (NASDAQ:XLRN) from a strong sell rating to a sell rating in a research note issued to investors on Friday, BidAskClub reports.

A number of other equities research analysts have also recently issued reports on XLRN. ValuEngine cut Acceleron Pharma from a strong-buy rating to a buy rating in a report on Thursday, April 18th. Zacks Investment Research upgraded ZovioInc . from a sell rating to a hold rating in a report on Sunday, July 14th. Oppenheimer set a $290.00 price objective on Biogen and gave the stock a buy rating in a report on Monday, April 22nd. Goldman Sachs Group upgraded Koninklijke KPN from a neutral rating to a buy rating in a report on Wednesday, May 29th. Finally, HC Wainwright restated a buy rating and set a $25.00 price objective on shares of Aurinia Pharmaceuticals in a report on Tuesday, June 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. Acceleron Pharma currently has an average rating of Hold and a consensus price target of $60.63.

NASDAQ:XLRN opened at $42.00 on Friday. The company has a current ratio of 19.26, a quick ratio of 19.26 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average of $40.54. The firm has a market capitalization of $2.23 billion, a P/E ratio of -16.22 and a beta of 1.21. Acceleron Pharma has a 52-week low of $37.01 and a 52-week high of $59.59.

Acceleron Pharma (NASDAQ:XLRN) last released its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.07). The company had revenue of $2.78 million during the quarter, compared to analyst estimates of $3.67 million. Acceleron Pharma had a negative net margin of 965.39% and a negative return on equity of 35.94%. Acceleron Pharma’s revenue was down 13.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.58) EPS. Research analysts anticipate that Acceleron Pharma will post -2.44 EPS for the current year.

In related news, Director Jean George sold 37,500 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $39.79, for a total value of $1,492,125.00. Following the completion of the sale, the director now directly owns 23,750 shares in the company, valued at $945,012.50. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Joseph S. Zakrzewski purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was bought at an average price of $38.05 per share, with a total value of $190,250.00. Following the completion of the purchase, the director now owns 12,750 shares of the company’s stock, valued at approximately $485,137.50. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 63,726 shares of company stock valued at $2,519,969. 2.50% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its holdings in shares of Acceleron Pharma by 24.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the biopharmaceutical company’s stock valued at $323,000 after acquiring an additional 1,460 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Acceleron Pharma by 132.1% during the 4th quarter. Bank of New York Mellon Corp now owns 439,644 shares of the biopharmaceutical company’s stock valued at $19,147,000 after acquiring an additional 250,254 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Acceleron Pharma during the 4th quarter valued at about $223,000. Advisor Group Inc. increased its holdings in shares of Acceleron Pharma by 554.8% during the 4th quarter. Advisor Group Inc. now owns 4,256 shares of the biopharmaceutical company’s stock valued at $186,000 after acquiring an additional 3,606 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Acceleron Pharma by 7.7% during the 4th quarter. Geode Capital Management LLC now owns 453,463 shares of the biopharmaceutical company’s stock valued at $19,748,000 after acquiring an additional 32,521 shares during the last quarter. Institutional investors and hedge funds own 92.54% of the company’s stock.

Acceleron Pharma Company Profile

Acceleron Pharma Inc, a clinical stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics to treat serious and rare diseases. Its therapeutic candidates include luspatercept, which is in Phase III clinical trials for the treatment of myelodysplastic syndromes and beta-thalassemia; Phase II clinical trials for the treatment of patients with transfusion-dependent beta-thalassemia and myelofibrosis.

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Analyst Recommendations for Acceleron Pharma (NASDAQ:XLRN)

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