According to Zacks, “Acceleron Pharma Inc. is a biopharmaceutical company which focuses on the discovery, development and commercialization of protein therapeutics for cancer and rare diseases. Acceleron Pharma Inc. is based in Cambridge, Massachusetts. “
Several other brokerages have also recently commented on XLRN. Barclays PLC lifted their price objective on shares of Acceleron Pharma from $40.00 to $42.00 and gave the company an overweight rating in a research note on Monday, June 13th. Citigroup Inc. started coverage on shares of Acceleron Pharma in a research note on Thursday, September 29th. They set a neutral rating and a $40.00 price objective for the company. FBR & Co restated a buy rating on shares of Acceleron Pharma in a research note on Wednesday, September 28th. Leerink Swann restated a buy rating on shares of Acceleron Pharma in a research note on Sunday, June 12th. Finally, Credit Suisse Group AG restated a buy rating on shares of Acceleron Pharma in a research note on Sunday, July 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. Acceleron Pharma currently has an average rating of Buy and an average target price of $47.11.
Shares of Acceleron Pharma (NASDAQ:XLRN) traded down 2.71% during trading on Thursday, hitting $33.03. 128,375 shares of the company were exchanged. Acceleron Pharma has a 12 month low of $21.93 and a 12 month high of $50.86. The firm’s 50-day moving average price is $33.80 and its 200 day moving average price is $32.47. The firm’s market capitalization is $1.24 billion.
Acceleron Pharma (NASDAQ:XLRN) last announced its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.50) by $0.09. Acceleron Pharma had a negative net margin of 190.41% and a negative return on equity of 30.00%. The business had revenue of $3.20 million for the quarter, compared to analyst estimates of $3.77 million. The business’s revenue for the quarter was down 43.9% on a year-over-year basis. On average, equities research analysts expect that Acceleron Pharma will post ($1.59) earnings per share for the current fiscal year.
In other news, SVP John D. Quisel sold 21,438 shares of the company’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $32.14, for a total transaction of $689,017.32. Following the completion of the sale, the senior vice president now owns 86,723 shares of the company’s stock, valued at $2,787,277.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jean George sold 857,145 shares of the company’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $35.50, for a total transaction of $30,428,647.50. The disclosure for this sale can be found here. 12.20% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc raised its stake in Acceleron Pharma by 33.8% in the first quarter. Legal & General Group Plc now owns 4,041 shares of the biopharmaceutical company’s stock worth $109,000 after buying an additional 1,020 shares during the last quarter. Acrospire Investment Management LLC acquired a new stake in Acceleron Pharma during the second quarter worth about $110,000. Teacher Retirement System of Texas raised its stake in Acceleron Pharma by 14.3% in the second quarter. Teacher Retirement System of Texas now owns 3,817 shares of the biopharmaceutical company’s stock worth $130,000 after buying an additional 477 shares during the last quarter. Pacad Investment Ltd. acquired a new stake in Acceleron Pharma during the second quarter worth about $133,000. Finally, PNC Financial Services Group Inc. raised its stake in Acceleron Pharma by 4,112.5% in the second quarter. PNC Financial Services Group Inc. now owns 5,055 shares of the biopharmaceutical company’s stock worth $172,000 after buying an additional 4,935 shares during the last quarter. 75.55% of the stock is owned by institutional investors and hedge funds.
Acceleron Pharma Company Profile
Acceleron Pharma Inc is a United States-based clinical stage biopharmaceutical company. The Company focuses on discovering and developing therapies to treat a range of diseases. Its therapeutic candidate, luspatercept, is being evaluated in Phase III studies for the treatment of the hematologic diseases myelodysplastic syndromes (MDS) and beta-thalassemia.
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