Acceleron Pharma Inc. (NASDAQ:XLRN) SVP Ravindra Kumar sold 52,486 shares of the company’s stock in a transaction on Monday, October 10th. The stock was sold at an average price of $33.92, for a total transaction of $1,780,325.12. Following the transaction, the senior vice president now owns 91,875 shares of the company’s stock, valued at approximately $3,116,400. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Acceleron Pharma Inc. (NASDAQ:XLRN) opened at 29.74 on Monday. Acceleron Pharma Inc. has a one year low of $22.67 and a one year high of $50.86. The stock has a 50 day moving average of $34.14 and a 200-day moving average of $32.72. The stock’s market cap is $1.12 billion.
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 analysts’ consensus estimates of ($0.50) by $0.09. The business earned $3.20 million during the quarter, compared to analyst estimates of $3.77 million. Acceleron Pharma had a negative return on equity of 30.00% and a negative net margin of 190.41%. The firm’s revenue was down 43.9% compared to the same quarter last year. Analysts anticipate that Acceleron Pharma Inc. will post ($1.59) EPS for the current year.
A number of brokerages have commented on XLRN. Credit Suisse Group AG restated a “buy” rating on shares of Acceleron Pharma in a research report on Sunday, July 10th. FBR & Co restated a “buy” rating on shares of Acceleron Pharma in a research report on Wednesday, September 28th. Zacks Investment Research upgraded shares of Acceleron Pharma from a “sell” rating to a “hold” rating in a research report on Wednesday, October 12th. Morgan Stanley restated an “overweight” rating on shares of Acceleron Pharma in a research report on Wednesday, June 29th. Finally, Leerink Swann restated an “outperform” rating on shares of Acceleron Pharma in a research report on Friday, October 7th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Acceleron Pharma presently has a consensus rating of “Buy” and a consensus target price of $47.11.
Institutional investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors increased its position in Acceleron Pharma by 16.2% in the first quarter. BlackRock Fund Advisors now owns 1,070,110 shares of the biopharmaceutical company’s stock worth $28,240,000 after buying an additional 149,193 shares in the last quarter. BlackRock Inc. increased its position in Acceleron Pharma by 17.0% in the first quarter. BlackRock Inc. now owns 33,682 shares of the biopharmaceutical company’s stock worth $889,000 after buying an additional 4,887 shares in the last quarter. Prudential Financial Inc. increased its position in Acceleron Pharma by 31.3% in the first quarter. Prudential Financial Inc. now owns 90,200 shares of the biopharmaceutical company’s stock worth $2,380,000 after buying an additional 21,500 shares in the last quarter. Acrospire Investment Management LLC acquired a new position in Acceleron Pharma during the second quarter worth approximately $110,000. Finally, Strs Ohio acquired a new position in Acceleron Pharma during the second quarter worth approximately $570,000. 75.55% of the stock is owned by hedge funds and other institutional investors.
About Acceleron Pharma
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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