Several other equities analysts have also issued reports on the company. BidaskClub lowered Acceleron Pharma from a sell rating to a strong sell rating in a research note on Tuesday, April 16th. HC Wainwright restated a buy rating and set a $67.00 price target (down from $72.00) on shares of Acceleron Pharma in a research note on Thursday, February 28th. Finally, Cowen started coverage on Acceleron Pharma in a research note on Monday, February 25th. They issued an outperform rating and a $78.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. Acceleron Pharma has a consensus rating of Buy and an average price target of $60.63.
Shares of XLRN opened at $39.69 on Thursday. Acceleron Pharma has a 12-month low of $32.53 and a 12-month high of $59.59. The stock has a market cap of $2.09 billion, a P/E ratio of -15.32 and a beta of 1.41.
Acceleron Pharma (NASDAQ:XLRN) last issued its quarterly earnings results on Wednesday, February 27th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.07). Acceleron Pharma had a negative net margin of 849.62% and a negative return on equity of 36.63%. The firm had revenue of $3.80 million for the quarter, compared to the consensus estimate of $3.21 million. During the same quarter in the prior year, the firm earned ($0.62) earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. On average, equities analysts anticipate that Acceleron Pharma will post -2.21 EPS for the current fiscal year.
In other news, CFO Kevin F. Mclaughlin sold 12,000 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $1,355,510.98. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kevin F. Mclaughlin sold 648 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $48.02, for a total value of $31,116.96. Following the completion of the sale, the chief financial officer now owns 42,279 shares in the company, valued at $2,030,237.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,730 shares of company stock worth $1,060,959. Corporate insiders own 3.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in XLRN. Bank of New York Mellon Corp grew its stake in shares of Acceleron Pharma by 10.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 189,390 shares of the biopharmaceutical company’s stock valued at $10,839,000 after purchasing an additional 18,286 shares during the period. PNC Financial Services Group Inc. grew its position in Acceleron Pharma by 36.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,980 shares of the biopharmaceutical company’s stock worth $343,000 after acquiring an additional 1,596 shares during the last quarter. BlackRock Inc. grew its position in Acceleron Pharma by 3.4% during the 3rd quarter. BlackRock Inc. now owns 4,347,892 shares of the biopharmaceutical company’s stock worth $248,830,000 after acquiring an additional 142,823 shares during the last quarter. Pacer Advisors Inc. bought a new stake in Acceleron Pharma during the 3rd quarter worth approximately $169,000. Finally, Man Group plc bought a new stake in Acceleron Pharma during the 3rd quarter worth approximately $406,000. 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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