Acceleron Pharma Inc. (XLRN) Shares Down 5.8% Following Insider Selling
Shares of Acceleron Pharma Inc. (NASDAQ:XLRN) traded down 5.8% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $31.78 and last traded at $31.78, with a volume of 75,664 shares changing hands. The stock had previously closed at $33.73.
Specifically, SVP John D. Quisel sold 45,952 shares of the firm’s stock in a transaction dated 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 owns 77,004 shares in the company, valued at $2,930,002.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 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 corporate insiders.
Several analysts recently commented on the stock. Credit Suisse Group AG reiterated a “buy” rating on shares of Acceleron Pharma in a research note on Sunday, July 10th. FBR & Co reiterated a “buy” rating and issued a $63.00 price objective on shares of Acceleron Pharma in a research note on Friday, August 5th. Leerink Swann reiterated an “outperform” rating on shares of Acceleron Pharma in a research note on Friday, October 7th. BTIG Research assumed coverage on shares of Acceleron Pharma in a research note on Friday, August 19th. They issued a “buy” rating and a $46.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of Acceleron Pharma from a “sell” rating to a “hold” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $47.11.
The stock has a 50-day moving average price of $34.13 and a 200 day moving average price of $32.69. The firm’s market capitalization is $1.16 billion.
Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.50) by $0.09. The firm had revenue of $3.20 million for the quarter, compared to the consensus estimate of $3.77 million. Acceleron Pharma had a negative return on equity of 30.00% and a negative net margin of 190.41%. The business’s quarterly revenue was down 43.9% compared to the same quarter last year. On average, equities analysts expect that Acceleron Pharma Inc. will post ($1.59) EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the company. Pictet Asset Management Ltd. raised its position in Acceleron Pharma by 744.9% in the second quarter. Pictet Asset Management Ltd. now owns 727,427 shares of the biopharmaceutical company’s stock valued at $24,885,000 after buying an additional 641,327 shares in the last quarter. Westfield Capital Management Co. LP purchased a new position in Acceleron Pharma during the second quarter valued at approximately $16,793,000. Credit Suisse AG raised its position in Acceleron Pharma by 176.6% in the second quarter. Credit Suisse AG now owns 389,653 shares of the biopharmaceutical company’s stock valued at $13,240,000 after buying an additional 248,775 shares in the last quarter. Vanguard Group Inc. raised its position in Acceleron Pharma by 12.4% in the second quarter. Vanguard Group Inc. now owns 1,646,234 shares of the biopharmaceutical company’s stock valued at $55,939,000 after buying an additional 181,375 shares in the last quarter. Finally, BlackRock Fund Advisors raised its position 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 valued at $28,240,000 after buying an additional 149,193 shares in the last quarter. 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.
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