A number of other research firms also recently weighed in on XLRN. Barclays PLC raised their price target on Acceleron Pharma from $40.00 to $42.00 and gave the company an overweight rating in a research note on Monday, June 13th. Zacks Investment Research downgraded Acceleron Pharma from a buy rating to a hold rating in a research note on Thursday, July 21st. Leerink Swann restated a buy rating on shares of Acceleron Pharma in a research note on Sunday, June 12th. Credit Suisse Group AG restated a buy rating on shares of Acceleron Pharma in a research note on Sunday, July 10th. Finally, Morgan Stanley reiterated an overweight rating on shares of Acceleron Pharma in a research note on Wednesday, June 29th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $47.11.
Acceleron Pharma (NASDAQ:XLRN) opened at 36.19 on Wednesday. The firm’s market capitalization is $1.36 billion. Acceleron Pharma has a 52 week low of $21.93 and a 52 week high of $50.86. The company has a 50 day moving average price of $33.19 and a 200-day moving average price of $32.18.
Acceleron Pharma (NASDAQ:XLRN) last posted its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.59) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.50) by $0.09. The company earned $3.20 million during the quarter, compared to the consensus estimate of $3.77 million. Acceleron Pharma had a negative net margin of 190.41% and a negative return on equity of 30.00%. The business’s revenue for the quarter was down 43.9% compared to the same quarter last year. Equities analysts predict that Acceleron Pharma will post ($1.59) earnings per share for the current year.
In related news, CEO John L. Knopf sold 30,501 shares of the business’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $33.26, for a total value of $1,014,463.26. Following the completion of the sale, the chief executive officer now directly owns 147,106 shares in the company, valued at approximately $4,892,745.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Steven D. Ertel sold 32,270 shares of the business’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $34.56, for a total value of $1,115,251.20. Following the completion of the sale, the chief operating officer now owns 137,365 shares of the company’s stock, valued at $4,747,334.40. The disclosure for this sale can be found here. 12.20% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in XLRN. Legal & General Group Plc boosted its position in shares of 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 shares of Acceleron Pharma during the second quarter valued at $110,000. Teacher Retirement System of Texas boosted its position in shares of 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 valued at $130,000 after buying an additional 477 shares in the last quarter. Pacad Investment Ltd. bought a new position in shares of Acceleron Pharma during the second quarter valued at $133,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of 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 valued at $172,000 after buying an additional 4,935 shares in the last quarter. Institutional investors and hedge funds own 75.55% of the company’s stock.
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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