Royal Bank Of Canada began coverage on shares of Acceleron Pharma Inc. (NASDAQ:XLRN) in a research note released on Thursday, Marketbeat.com reports. The brokerage issued a sector perform rating and a $44.00 price objective on the biopharmaceutical company’s stock.

A number of other brokerages also recently issued reports on XLRN. ValuEngine raised Acceleron Pharma from a sell rating to a hold rating in a report on Friday, September 1st. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Acceleron Pharma in a report on Tuesday, September 5th. Cann reiterated a hold rating on shares of Acceleron Pharma in a research report on Tuesday, September 5th. UBS AG reiterated a buy rating and set a $50.00 price objective (up previously from $36.00) on shares of Acceleron Pharma in a research report on Tuesday, September 12th. Finally, Credit Suisse Group set a $35.00 price objective on Acceleron Pharma and gave the company a buy rating in a research report on Saturday, August 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Acceleron Pharma presently has a consensus rating of Buy and a consensus target price of $42.33.

Shares of Acceleron Pharma (NASDAQ XLRN) opened at 39.91 on Thursday. The company has a 50-day moving average price of $35.71 and a 200-day moving average price of $30.87. Acceleron Pharma has a 52-week low of $23.07 and a 52-week high of $41.69. The stock’s market capitalization is $1.54 billion.

Acceleron Pharma (NASDAQ:XLRN) last announced its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.12). The business had revenue of $3.10 million for the quarter, compared to the consensus estimate 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 for the quarter was down 3.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.59) earnings per share. On average, equities analysts anticipate that Acceleron Pharma will post ($2.72) earnings per share for the current year.

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In other Acceleron Pharma news, SVP John D. Quisel sold 5,113 shares of the company’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $38.42, for a total value of $196,441.46. Following the completion of the sale, the senior vice president now owns 57,918 shares in the company, valued at $2,225,209.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Christopher Rovaldi sold 14,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $38.41, for a total value of $537,740.00. Following the completion of the sale, the senior vice president now owns 28,232 shares of the company’s stock, valued at approximately $1,084,391.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 117,915 shares of company stock valued at $4,160,901. Company insiders own 3.90% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its stake in shares of Acceleron Pharma by 9.0% in the second quarter. BlackRock Inc. now owns 4,005,228 shares of the biopharmaceutical company’s stock worth $121,719,000 after acquiring an additional 330,635 shares during the period. Vanguard Group Inc. boosted its stake in shares of Acceleron Pharma by 6.1% in the second quarter. Vanguard Group Inc. now owns 2,029,040 shares of the biopharmaceutical company’s stock worth $61,663,000 after acquiring an additional 116,705 shares during the period. Westfield Capital Management Co. LP boosted its stake in shares of Acceleron Pharma by 46.6% in the second quarter. Westfield Capital Management Co. LP now owns 1,682,359 shares of the biopharmaceutical company’s stock worth $51,127,000 after acquiring an additional 534,440 shares during the period. Eagle Asset Management Inc. boosted its stake in shares of Acceleron Pharma by 6.6% in the second quarter. Eagle Asset Management Inc. now owns 1,256,642 shares of the biopharmaceutical company’s stock worth $38,189,000 after acquiring an additional 77,683 shares during the period. Finally, State Street Corp boosted its stake in shares of Acceleron Pharma by 9.4% in the second quarter. State Street Corp now owns 1,131,824 shares of the biopharmaceutical company’s stock worth $34,386,000 after acquiring an additional 97,199 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

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.

Analyst Recommendations for Acceleron Pharma (NASDAQ:XLRN)

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