Shares of Acceleron Pharma Inc (NASDAQ:XLRN) have received an average recommendation of “Buy” from the twelve brokerages that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $60.63.
A number of analysts recently weighed in on XLRN shares. ValuEngine lowered shares of Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a research note on Thursday. HC Wainwright reissued a “buy” rating and issued a $67.00 price objective (down from $72.00) on shares of Acceleron Pharma in a report on Thursday, February 28th. BidaskClub raised Acceleron Pharma from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. Finally, Cowen assumed coverage on Acceleron Pharma in a report on Monday, February 25th. They issued an “outperform” rating and a $78.00 price objective for the company.
XLRN traded down $0.78 on Tuesday, hitting $39.69. 401,293 shares of the company’s stock were exchanged, compared to its average volume of 303,724. Acceleron Pharma has a fifty-two week low of $32.53 and a fifty-two week high of $59.59. The stock has a market cap of $2.09 billion, a PE ratio of -15.32 and a beta of 1.41.
Acceleron Pharma (NASDAQ:XLRN) last released its earnings results on Wednesday, February 27th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.68) by ($0.07). Acceleron Pharma had a negative return on equity of 36.63% and a negative net margin of 849.62%. The firm had revenue of $3.80 million for the quarter, compared to analysts’ expectations of $3.21 million. During the same quarter in the previous year, the company posted ($0.62) earnings per share. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts predict that Acceleron Pharma will post -2.21 EPS for the current year.
In related news, CFO Kevin F. Mclaughlin sold 648 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $48.02, for a total transaction of $31,116.96. Following the completion of the sale, the chief financial officer now directly owns 42,279 shares of the company’s stock, valued at $2,030,237.58. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kevin F. Mclaughlin sold 12,000 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $44.62, for a total value of $535,440.00. Following the sale, the chief financial officer now directly owns 30,379 shares of the company’s stock, valued at $1,355,510.98. The disclosure for this sale can be found here. Insiders sold 23,730 shares of company stock valued at $1,060,959 over the last three months. Corporate insiders own 2.50% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Comerica Bank raised its position in Acceleron Pharma by 1.2% in the fourth quarter. Comerica Bank now owns 24,369 shares of the biopharmaceutical company’s stock worth $964,000 after acquiring an additional 290 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Acceleron Pharma by 17.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,602 shares of the biopharmaceutical company’s stock worth $113,000 after acquiring an additional 386 shares in the last quarter. Knott David M raised its position in Acceleron Pharma by 6.1% in the fourth quarter. Knott David M now owns 17,400 shares of the biopharmaceutical company’s stock worth $758,000 after acquiring an additional 1,000 shares in the last quarter. Clarfeld Financial Advisors LLC purchased a new position in Acceleron Pharma in the fourth quarter worth $44,000. Finally, PNC Financial Services Group Inc. raised its position in Acceleron Pharma by 24.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the biopharmaceutical company’s stock worth $323,000 after acquiring an additional 1,460 shares in the last quarter. Hedge funds and other institutional investors own 86.13% of the company’s stock.
About Acceleron Pharma
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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