Acceleron Pharma Inc. (NASDAQ:XLRN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “Acceleron Pharma Inc. is a biopharmaceutical company which focuses on the discovery, development and commercialization of protein therapeutics for cancer and rare diseases. Acceleron Pharma Inc. is based in Cambridge, Massachusetts. “

Several other brokerages have also issued reports on XLRN. Citigroup Inc. started coverage on Acceleron Pharma in a research report on Thursday, September 29th. They set a “neutral” rating and a $40.00 target price for the company. FBR & Co reaffirmed a “buy” rating on shares of Acceleron Pharma in a research report on Wednesday, September 28th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Acceleron Pharma in a research report on Sunday, July 10th. Morgan Stanley reaffirmed an “overweight” rating on shares of Acceleron Pharma in a research report on Wednesday, June 29th. Finally, BTIG Research started coverage on Acceleron Pharma in a research report on Friday, August 19th. They set a “buy” rating and a $46.00 target price for the company. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Acceleron Pharma currently has a consensus rating of “Buy” and a consensus target price of $47.11.

Analyst Recommendations for Acceleron Pharma (NASDAQ:XLRN)

Acceleron Pharma (NASDAQ:XLRN) traded down 0.74% during trading on Wednesday, hitting $33.48. 17,765 shares of the company traded hands. The stock has a 50-day moving average price of $34.13 and a 200-day moving average price of $32.70. The firm’s market capitalization is $1.26 billion. Acceleron Pharma has a 12-month low of $21.93 and a 12-month high of $50.86.

Acceleron Pharma (NASDAQ:XLRN) last announced its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate 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. The firm’s revenue was down 43.9% on a year-over-year basis. Equities analysts expect that Acceleron Pharma will post ($1.59) EPS for the current fiscal year.

In other Acceleron Pharma news, SVP Ravindra Kumar sold 52,486 shares of the firm’s stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $33.92, for a total value of $1,780,325.12. Following the completion of the transaction, the senior vice president now owns 91,875 shares in the company, valued at approximately $3,116,400. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP John D. Quisel sold 21,438 shares of the firm’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $32.14, for a total value of $689,017.32. Following the completion of the transaction, 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 owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Parametric Portfolio Associates LLC increased its position in shares of Acceleron Pharma by 1.0% in the second quarter. Parametric Portfolio Associates LLC now owns 8,797 shares of the biopharmaceutical company’s stock valued at $299,000 after buying an additional 90 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Acceleron Pharma by 4.3% in the second quarter. Legal & General Group Plc now owns 4,214 shares of the biopharmaceutical company’s stock worth $145,000 after buying an additional 173 shares during the period. State Board of Administration of Florida Retirement System increased its stake in shares of Acceleron Pharma by 1.0% in the second quarter. State Board of Administration of Florida Retirement System now owns 18,078 shares of the biopharmaceutical company’s stock worth $614,000 after buying an additional 185 shares during the period. Mutual of America Capital Management LLC increased its stake in shares of Acceleron Pharma by 0.6% in the second quarter. Mutual of America Capital Management LLC now owns 44,663 shares of the biopharmaceutical company’s stock worth $1,518,000 after buying an additional 250 shares during the period. Finally, Tocqueville Asset Management L.P. increased its stake in shares of Acceleron Pharma by 2.2% in the second quarter. Tocqueville Asset Management L.P. now owns 19,750 shares of the biopharmaceutical company’s stock worth $671,000 after buying an additional 425 shares during the period. Institutional investors and hedge funds 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.

5 Day Chart for NASDAQ:XLRN

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