Acceleron Pharma Inc. (XLRN) Receives “Outperform” Rating from Leerink Swann
Acceleron Pharma Inc. (NASDAQ:XLRN)‘s stock had its “outperform” rating restated by Leerink Swann in a research note issued on Friday.
Several other brokerages have also recently issued reports on XLRN. Barclays PLC lifted their price objective on shares of Acceleron Pharma from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Monday, June 13th. Citigroup Inc. initiated coverage on shares of Acceleron Pharma in a research note on Thursday, September 29th. They issued a “neutral” rating and a $40.00 price objective on the stock. Zacks Investment Research cut shares of Acceleron Pharma from a “buy” rating to a “hold” rating in a research note on Thursday, July 21st. FBR & Co reaffirmed a “buy” rating on shares of Acceleron Pharma in a research note on Wednesday, September 28th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of Acceleron Pharma in a research note on Sunday, July 10th. Two research analysts have rated the stock with 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.
Shares of Acceleron Pharma (NASDAQ:XLRN) traded down 3.65% on Friday, reaching $32.50. 56,593 shares of the company’s stock traded hands. Acceleron Pharma has a 52 week low of $21.93 and a 52 week high of $50.86. The firm’s market capitalization is $1.22 billion. The company has a 50 day moving average price of $34.13 and a 200 day moving average price of $32.70.
Acceleron Pharma (NASDAQ:XLRN) last released its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.59) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by $0.09. The company had revenue of $3.20 million for the quarter, compared to analyst estimates of $3.77 million. Acceleron Pharma had a negative net margin of 190.41% and a negative return on equity of 30.00%. Acceleron Pharma’s revenue for the quarter was down 43.9% on a year-over-year basis. On average, equities research analysts predict that Acceleron Pharma will post ($1.59) earnings per share for the current fiscal year.
In other Acceleron Pharma news, SVP Ravindra Kumar sold 52,486 shares of Acceleron Pharma stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $33.92, for a total value of $1,780,325.12. Following the completion of the sale, the senior vice president now directly owns 91,875 shares in the company, valued at $3,116,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP John D. Quisel sold 21,438 shares of Acceleron Pharma stock in a transaction that occurred 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 $2,787,277.22. The disclosure for this sale can be found here. Corporate insiders own 12.20% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. BlackRock Fund Advisors boosted its stake in Acceleron Pharma by 16.2% in the first quarter. BlackRock Fund Advisors now owns 1,070,110 shares of the biopharmaceutical company’s stock worth $28,240,000 after buying an additional 149,193 shares during the period. BlackRock Inc. boosted its stake in Acceleron Pharma by 17.0% in the first quarter. BlackRock Inc. now owns 33,682 shares of the biopharmaceutical company’s stock worth $889,000 after buying an additional 4,887 shares during the period. Prudential Financial Inc. boosted its stake in Acceleron Pharma by 31.3% in the first quarter. Prudential Financial Inc. now owns 90,200 shares of the biopharmaceutical company’s stock worth $2,380,000 after buying an additional 21,500 shares during the period. Acrospire Investment Management LLC acquired a new stake in Acceleron Pharma during the second quarter worth about $110,000. Finally, Strs Ohio acquired a new stake in Acceleron Pharma during the second quarter worth about $570,000. Hedge funds and other institutional investors own 75.55% of the company’s stock.
About Acceleron Pharma
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.
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