Eagle Asset Management Inc. Has $36.32 Million Stake in Acceleron Pharma Inc (NASDAQ:XLRN)

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Eagle Asset Management Inc. lifted its holdings in shares of Acceleron Pharma Inc (NASDAQ:XLRN) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 919,358 shares of the biopharmaceutical company’s stock after purchasing an additional 11,028 shares during the quarter. Eagle Asset Management Inc. owned 1.74% of Acceleron Pharma worth $36,323,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in XLRN. Point72 Asset Management L.P. raised its position in shares of Acceleron Pharma by 55.9% during the second quarter. Point72 Asset Management L.P. now owns 775,768 shares of the biopharmaceutical company’s stock worth $31,869,000 after purchasing an additional 278,068 shares during the period. Sofinnova Investments Inc. acquired a new stake in shares of Acceleron Pharma during the second quarter worth about $9,902,000. Nuveen Asset Management LLC acquired a new stake in shares of Acceleron Pharma during the second quarter worth about $7,983,000. Candriam Luxembourg S.C.A. raised its position in shares of Acceleron Pharma by 58.8% during the second quarter. Candriam Luxembourg S.C.A. now owns 381,948 shares of the biopharmaceutical company’s stock worth $15,622,000 after purchasing an additional 141,448 shares during the period. Finally, BlackRock Inc. raised its position in shares of Acceleron Pharma by 2.6% during the second quarter. BlackRock Inc. now owns 4,921,880 shares of the biopharmaceutical company’s stock worth $202,191,000 after purchasing an additional 124,369 shares during the period. 90.37% of the stock is currently owned by institutional investors.

XLRN has been the topic of a number of research analyst reports. Morgan Stanley dropped their price target on Acceleron Pharma from $52.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Friday, October 11th. HC Wainwright reaffirmed a “buy” rating and set a $68.00 price target on shares of Acceleron Pharma in a research report on Tuesday, September 17th. Oppenheimer set a $58.00 price target on Acceleron Pharma and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Citigroup dropped their price target on Acceleron Pharma from $61.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Finally, ValuEngine raised Acceleron Pharma from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Acceleron Pharma currently has an average rating of “Buy” and an average target price of $57.58.

NASDAQ:XLRN opened at $43.28 on Friday. The company has a market cap of $2.51 billion, a PE ratio of -16.71 and a beta of 1.23. The stock has a 50-day simple moving average of $42.00 and a 200 day simple moving average of $42.16. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.11 and a current ratio of 17.11. Acceleron Pharma Inc has a 52-week low of $37.01 and a 52-week high of $58.11.

Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.86) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.83) by ($0.03). The firm had revenue of $4.20 million for the quarter, compared to analyst estimates of $4.44 million. Acceleron Pharma had a negative return on equity of 29.51% and a negative net margin of 318.84%. The business’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.63) earnings per share. On average, research analysts predict that Acceleron Pharma Inc will post -2.33 earnings per share for the current fiscal year.

In other Acceleron Pharma news, CEO Habib J. Dable sold 5,625 shares of Acceleron Pharma stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $45.23, for a total value of $254,418.75. Following the completion of the transaction, the chief executive officer now directly owns 71,227 shares of the company’s stock, valued at approximately $3,221,597.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin F. Mclaughlin sold 8,000 shares of Acceleron Pharma stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $45.30, for a total value of $362,400.00. Following the completion of the transaction, the chief financial officer now directly owns 22,452 shares of the company’s stock, valued at $1,017,075.60. The disclosure for this sale can be found here. Insiders sold a total of 21,422 shares of company stock valued at $969,486 over the last ninety days. Insiders own 2.50% 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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Institutional Ownership by Quarter for Acceleron Pharma (NASDAQ:XLRN)

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