Acceleron Pharma Inc. (XLRN) Upgraded by BidaskClub to Strong-Buy
BidaskClub upgraded shares of Acceleron Pharma Inc. (NASDAQ:XLRN) from a buy rating to a strong-buy rating in a research report report published on Sunday.
Other research analysts have also recently issued reports about the stock. FBR & Co set a $63.00 price target on shares of Acceleron Pharma and gave the stock a buy rating in a report on Tuesday, June 13th. Oppenheimer Holdings, Inc. set a $40.00 price target on shares of Acceleron Pharma and gave the stock a buy rating in a report on Thursday, June 1st. Cann restated a buy rating and issued a $40.00 price target on shares of Acceleron Pharma in a report on Thursday, June 1st. Instinet restated a buy rating and issued a $58.00 price target on shares of Acceleron Pharma in a report on Wednesday, June 14th. Finally, Credit Suisse Group restated a buy rating and issued a $46.00 price target on shares of Acceleron Pharma in a report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $41.53.
Acceleron Pharma (XLRN) opened at 35.66 on Friday. The firm’s market cap is $1.38 billion. The company has a 50-day moving average of $32.21 and a 200 day moving average of $28.73. Acceleron Pharma has a 12-month low of $23.07 and a 12-month high of $41.69.
Acceleron Pharma (NASDAQ:XLRN) last announced its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.65) by $0.12. The firm had revenue of $3.10 million during the quarter, compared to analysts’ expectations of $3.69 million. Acceleron Pharma had a negative net margin of 724.22% and a negative return on equity of 44.67%. The company’s revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.59) EPS. Equities analysts expect that Acceleron Pharma will post ($2.57) EPS for the current fiscal year.
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In other Acceleron Pharma news, CFO Kevin F. Mclaughlin sold 34,400 shares of the stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $32.00, for a total transaction of $1,100,800.00. Following the transaction, the chief financial officer now directly owns 80,950 shares in the company, valued at approximately $2,590,400. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Ravindra Kumar sold 937 shares of the stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $32.00, for a total transaction of $29,984.00. Following the transaction, the senior vice president now owns 96,264 shares in the company, valued at $3,080,448. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 64,402 shares of company stock worth $2,105,416. 3.90% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA boosted its position in shares of Acceleron Pharma by 969.9% in the second quarter. BNP Paribas Arbitrage SA now owns 3,627 shares of the biopharmaceutical company’s stock valued at $110,000 after buying an additional 3,288 shares during the last quarter. NJ State Employees Deferred Compensation Plan acquired a new position in shares of Acceleron Pharma during the second quarter valued at about $213,000. Bank of Montreal Can acquired a new position in shares of Acceleron Pharma during the first quarter valued at about $237,000. Parametric Portfolio Associates LLC acquired a new position in shares of Acceleron Pharma during the first quarter valued at about $241,000. Finally, Tudor Investment Corp ET AL boosted its position in shares of Acceleron Pharma by 8.5% in the first quarter. Tudor Investment Corp ET AL now owns 9,105 shares of the biopharmaceutical company’s stock valued at $241,000 after buying an additional 716 shares during the last quarter. Institutional investors own 83.65% of the company’s stock.
About Acceleron Pharma
Acceleron Pharma Inc is a clinical-stage biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapeutics to treat serious and rare diseases. Its research focuses on key natural regulators of cellular growth and repair, particularly the Transforming Growth Factor-Beta (TGF-beta), protein superfamily.
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