Stock analysts at Citigroup Inc. assumed coverage on shares of Acceleron Pharma Inc. (NASDAQ:XLRN) in a research report issued on Thursday, The Fly reports. The firm set a “neutral” rating on the biopharmaceutical company’s stock.
Several other equities analysts also recently commented on the stock. FBR & Co reiterated a “buy” rating on shares of Acceleron Pharma in a report on Wednesday. Credit Suisse Group AG reiterated a “buy” rating and issued a $42.00 price objective on shares of Acceleron Pharma in a report on Wednesday. BTIG Research assumed coverage on shares of Acceleron Pharma in a report on Friday, August 19th. They issued a “buy” rating and a $46.00 price objective on the stock. Morgan Stanley restated a “buy” rating and issued a $58.00 price target on shares of Acceleron Pharma in a research note on Friday, August 5th. Finally, Zacks Investment Research downgraded shares of Acceleron Pharma from a “buy” rating to a “hold” rating in a research note on Thursday, July 21st. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Acceleron Pharma currently has a consensus rating of “Buy” and an average target price of $48.00.
Shares of Acceleron Pharma (NASDAQ:XLRN) opened at 39.58 on Thursday. The firm’s market cap is $1.49 billion. The firm has a 50-day moving average of $32.79 and a 200 day moving average of $32.08. Acceleron Pharma has a 52-week low of $21.93 and a 52-week high of $50.86.
Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.59) EPS for the quarter, missing the Thomson Reuters’ 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 company earned $3.20 million during the quarter, compared to analyst estimates of $3.77 million. The company’s quarterly revenue was down 43.9% compared to the same quarter last year. On average, equities analysts predict that Acceleron Pharma will post ($1.60) earnings per share for the current year.
In related news, CEO John L. Knopf sold 100,000 shares of the company’s stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $33.87, for a total transaction of $3,387,000.00. Following the completion of the sale, the chief executive officer now owns 147,106 shares of the company’s stock, valued at $4,982,480.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John L. Knopf sold 30,501 shares of the company’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $33.26, for a total transaction of $1,014,463.26. Following the sale, the chief executive officer now directly owns 147,106 shares of the company’s stock, valued at approximately $4,892,745.56. The disclosure for this sale can be found here. Corporate insiders own 12.20% of the company’s stock.
Large investors have recently bought and sold shares of the company. Legal & General Group Plc boosted 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 valued at $109,000 after buying an additional 1,020 shares in the last quarter. Acrospire Investment Management LLC bought a new position in Acceleron Pharma during the second quarter worth approximately $110,000. Teacher Retirement System of Texas boosted its position 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 period. Pacad Investment Ltd. bought a new position in Acceleron Pharma during the second quarter worth approximately $133,000. Finally, PNC Financial Services Group Inc. boosted its position 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 period. 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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