Acceleron Pharma Inc. (XLRN) Shares Gap Down to $35.05
Acceleron Pharma Inc. (NASDAQ:XLRN) shares gapped down prior to trading on Friday . The stock had previously closed at $33.35, but opened at $35.05. Acceleron Pharma shares last traded at $34.47, with a volume of 499,381 shares traded.
Several research analysts have recently weighed in on XLRN shares. Cann reissued a “buy” rating and issued a $40.00 price objective on shares of Acceleron Pharma in a research report on Thursday, June 1st. Piper Jaffray Companies lifted their price objective on Acceleron Pharma from $32.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, June 26th. BidaskClub raised Acceleron Pharma from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. ValuEngine raised Acceleron Pharma from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Finally, CIBC lowered Acceleron Pharma from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $42.81.
The stock’s market capitalization is $1.35 billion. The company’s 50 day moving average price is $36.11 and its 200 day moving average price is $31.05.
Acceleron Pharma (NASDAQ:XLRN) last posted its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.65) by ($0.12). The firm had revenue of $3.10 million for the quarter, compared to analysts’ expectations of $3.69 million. Acceleron Pharma had a negative return on equity of 44.67% and a negative net margin of 724.22%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.59) earnings per share. On average, equities research analysts anticipate that Acceleron Pharma Inc. will post ($2.71) earnings per share for the current fiscal year.
In other Acceleron Pharma news, CFO Kevin F. Mclaughlin sold 34,400 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $32.00, for a total value of $1,100,800.00. Following the completion of the sale, the chief financial officer now directly owns 80,950 shares in the company, valued at $2,590,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Ravindra Kumar sold 937 shares of the firm’s 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 completion of the sale, the senior vice president now owns 96,264 shares of the company’s stock, valued at $3,080,448. The disclosure for this sale can be found here. Insiders sold 117,915 shares of company stock valued at $4,160,901 over the last 90 days. 3.90% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SA lifted its holdings in Acceleron Pharma by 969.9% in the second quarter. BNP Paribas Arbitrage SA now owns 3,627 shares of the biopharmaceutical company’s stock worth $110,000 after buying an additional 3,288 shares during the period. NJ State Employees Deferred Compensation Plan purchased a new stake in Acceleron Pharma in the second quarter worth about $213,000. Bank of Montreal Can purchased a new stake in Acceleron Pharma in the first quarter worth about $237,000. Parametric Portfolio Associates LLC purchased a new stake in Acceleron Pharma in the first quarter worth about $241,000. Finally, Tudor Investment Corp ET AL lifted its holdings in 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 worth $241,000 after buying an additional 716 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.
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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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