Acceleron Pharma Inc. (NASDAQ:XLRN) traded down 4.7% on Thursday following insider selling activity. The stock traded as low as $34.16 and last traded at $34.52, with a volume of 91,355 shares trading hands. The stock had previously closed at $36.22.

Specifically, Director Jean George sold 857,145 shares of the company’s stock in a transaction on Friday, September 30th. The shares were sold at an average price of $35.50, for a total value of $30,428,647.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John D. Quisel sold 21,438 shares of the company’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $32.14, for a total transaction of $689,017.32. Following the completion of the sale, the senior vice president now owns 86,723 shares of the company’s stock, valued at approximately $2,787,277.22. The disclosure for this sale can be found here. 12.20% of the stock is currently owned by insiders.

Several research firms recently commented on XLRN. BTIG Research began coverage on shares of Acceleron Pharma in a research report on Friday, August 19th. They issued a “buy” rating and a $46.00 price target for the company. Piper Jaffray Cos. reiterated a “buy” rating on shares of Acceleron Pharma in a research report on Friday, June 10th. Morgan Stanley reiterated a “buy” rating and issued a $58.00 price target on shares of Acceleron Pharma in a research report on Friday, August 5th. Credit Suisse Group AG reiterated a “buy” rating and issued a $42.00 price target on shares of Acceleron Pharma in a research report on Wednesday, September 28th. Finally, FBR & Co reiterated a “buy” rating and issued a $63.00 price target on shares of Acceleron Pharma in a research report on Friday, August 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. Acceleron Pharma presently has a consensus rating of “Buy” and an average price target of $47.11.

The stock’s 50-day moving average price is $33.80 and its 200 day moving average price is $32.47. The company’s market capitalization is $1.28 billion.

Acceleron Pharma (NASDAQ:XLRN) last issued 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 analysts’ expectations of $3.77 million. Acceleron Pharma had a negative return on equity of 30.00% and a negative net margin of 190.41%. Acceleron Pharma’s quarterly revenue was down 43.9% on a year-over-year basis. Analysts forecast that Acceleron Pharma Inc. will post ($1.59) earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the company. 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 worth $109,000 after buying an additional 1,020 shares in the last quarter. Acrospire Investment Management LLC acquired a new position in Acceleron Pharma during the second quarter valued at $110,000. Teacher Retirement System of Texas boosted its position 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 valued at $130,000 after buying an additional 477 shares during the period. Pacad Investment Ltd. acquired a new position in Acceleron Pharma during the second quarter valued at $133,000. Finally, PNC Financial Services Group Inc. boosted its position 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 valued at $172,000 after buying an additional 4,935 shares during the period. 75.55% of the stock is currently owned by hedge funds and other institutional investors.

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.

5 Day Chart for NASDAQ:XLRN

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