Acceleron Pharma Inc. (XLRN) Given “Buy” Rating at FBR & Co
Acceleron Pharma Inc. (NASDAQ:XLRN)‘s stock had its “buy” rating restated by research analysts at FBR & Co in a research report issued on Wednesday.
Other analysts have also recently issued reports about the stock. Credit Suisse Group AG restated a “buy” rating and issued a $42.00 price target on shares of Acceleron Pharma in a report on Wednesday. Leerink Swann restated a “buy” rating on shares of Acceleron Pharma in a report on Sunday, June 12th. Piper Jaffray Cos. restated a “buy” rating on shares of Acceleron Pharma in a report on Friday, June 10th. Barclays PLC raised their price target on shares of Acceleron Pharma from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, June 13th. Finally, Zacks Investment Research upgraded shares of Acceleron Pharma from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Wednesday, July 20th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $48.00.
Acceleron Pharma (NASDAQ:XLRN) traded down 2.74% on Wednesday, hitting $39.36. 128,523 shares of the stock traded hands. Acceleron Pharma has a 12 month low of $21.93 and a 12 month high of $50.86. The company’s market capitalization is $1.48 billion. The firm has a 50-day moving average price of $32.51 and a 200-day moving average price of $32.03.
Acceleron Pharma (NASDAQ:XLRN) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by $0.09. Acceleron Pharma had a negative net margin of 190.41% and a negative return on equity of 30.00%. The business had revenue of $3.20 million for the quarter, compared to analysts’ expectations of $3.77 million. Acceleron Pharma’s revenue for the quarter was down 43.9% on a year-over-year basis. Analysts forecast that Acceleron Pharma will post ($1.60) earnings per share for the current year.
In related news, SVP John D. Quisel sold 45,952 shares of Acceleron Pharma stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $38.05, for a total value of $1,748,473.60. Following the completion of the sale, the senior vice president now directly owns 77,004 shares in the company, valued at approximately $2,930,002.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Steven D. Ertel sold 28,304 shares of Acceleron Pharma stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $34.77, for a total transaction of $984,130.08. Following the completion of the sale, the chief operating officer now owns 137,365 shares of the company’s stock, valued at $4,776,181.05. The disclosure for this sale can be found here. 12.20% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its stake in Acceleron Pharma by 33.8% in the first quarter. Legal & General Group Plc now owns 4,041 shares of the biopharmaceutical company’s stock worth $109,000 after buying an additional 1,020 shares during the period. Acrospire Investment Management LLC bought a new stake in Acceleron Pharma during the second quarter worth approximately $110,000. Teacher Retirement System of Texas boosted its stake in 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 worth $130,000 after buying an additional 477 shares during the period. Pacad Investment Ltd. bought a new stake in Acceleron Pharma during the second quarter worth approximately $133,000. Finally, PNC Financial Services Group Inc. boosted its stake in 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 worth $172,000 after buying an additional 4,935 shares during the period. Institutional investors own 75.55% of the company’s stock.
Acceleron Pharma Company Profile
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.
Receive News & Stock Ratings for Acceleron Pharma Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acceleron Pharma Inc. and related stocks with our FREE daily email newsletter.