UBS AG Reaffirms “Buy” Rating for Acceleron Pharma Inc. (XLRN)
Acceleron Pharma Inc. (NASDAQ:XLRN)‘s stock had its “buy” rating reaffirmed by investment analysts at UBS AG in a report issued on Tuesday. They presently have a $50.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $36.00. UBS AG’s target price points to a potential upside of 32.38% from the company’s current price.
XLRN has been the topic of a number of other reports. Cann reiterated a “hold” rating on shares of Acceleron Pharma in a research report on Friday, June 23rd. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Acceleron Pharma in a research report on Wednesday, May 17th. They set a “sell” rating and a $20.00 price target on the stock. BidaskClub upgraded shares of Acceleron Pharma from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. FBR & Co reiterated a “buy” rating on shares of Acceleron Pharma in a research report on Thursday, May 18th. Finally, Piper Jaffray Companies increased their price target on shares of Acceleron Pharma from $32.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, June 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $42.21.
Shares of Acceleron Pharma (NASDAQ:XLRN) opened at 37.77 on Tuesday. Acceleron Pharma has a 52-week low of $23.07 and a 52-week high of $41.69. The company’s 50-day moving average is $34.79 and its 200 day moving average is $30.50. The firm’s market capitalization is $1.46 billion.
Acceleron Pharma (NASDAQ:XLRN) last issued its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.65) by $0.12. Acceleron Pharma had a negative net margin of 724.22% and a negative return on equity of 44.67%. The business had revenue of $3.10 million for the quarter, compared to the consensus estimate of $3.69 million. During the same quarter in the previous year, the business earned ($0.59) earnings per share. The firm’s revenue was down 3.1% on a year-over-year basis. Analysts expect that Acceleron Pharma will post ($2.70) EPS for the current fiscal year.
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In other news, CFO Kevin F. Mclaughlin sold 34,400 shares of the stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $32.00, for a total transaction of $1,100,800.00. Following the completion of the sale, the chief financial officer now owns 80,950 shares of the company’s stock, valued at $2,590,400. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Matthew L. Sherman sold 16,000 shares of the stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $32.00, for a total value of $512,000.00. Following the sale, the executive vice president now directly owns 112,400 shares of the company’s stock, valued at approximately $3,596,800. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,402 shares of company stock valued at $2,105,416. Insiders own 3.90% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Teachers Advisors LLC lifted its stake in Acceleron Pharma by 3.0% in the fourth quarter. Teachers Advisors LLC now owns 45,138 shares of the biopharmaceutical company’s stock worth $1,152,000 after acquiring an additional 1,296 shares during the period. Bank of Montreal Can purchased a new stake in Acceleron Pharma in the first quarter worth $237,000. Nationwide Fund Advisors lifted its stake in Acceleron Pharma by 10.5% in the first quarter. Nationwide Fund Advisors now owns 22,737 shares of the biopharmaceutical company’s stock worth $602,000 after acquiring an additional 2,168 shares during the period. Russell Investments Group Ltd. lifted its stake in Acceleron Pharma by 88.9% in the first quarter. Russell Investments Group Ltd. now owns 27,850 shares of the biopharmaceutical company’s stock worth $737,000 after acquiring an additional 13,108 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in Acceleron Pharma by 106.1% in the first quarter. Wells Fargo & Company MN now owns 79,462 shares of the biopharmaceutical company’s stock worth $2,104,000 after acquiring an additional 40,910 shares during the period. 88.07% of the stock is owned by hedge funds and other institutional investors.
Acceleron Pharma Company Profile
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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