Acceleron Pharma Inc. (XLRN) Announces Quarterly Earnings Results
Acceleron Pharma Inc. (NASDAQ:XLRN) posted its earnings results on Tuesday. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.63) by ($0.02), Briefing.com reports. The firm had revenue of $3.00 million during the quarter, compared to analyst estimates of $3.52 million. Acceleron Pharma had a negative net margin of 724.22% and a negative return on equity of 44.67%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same period last year, the company posted ($0.55) EPS.
Acceleron Pharma (NASDAQ XLRN) opened at $35.23 on Wednesday. Acceleron Pharma has a 52 week low of $23.07 and a 52 week high of $41.69.
In other news, major shareholder Corp /De/ Celgene bought 745,592 shares of the stock in a transaction on Monday, September 25th. The shares were purchased at an average price of $37.00 per share, for a total transaction of $27,586,904.00. Following the completion of the purchase, the insider now directly owns 6,118,479 shares of the company’s stock, valued at approximately $226,383,723. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, SVP John D. Quisel sold 5,113 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $38.42, for a total value of $196,441.46. Following the completion of the transaction, the senior vice president now owns 57,918 shares in the company, valued at approximately $2,225,209.56. The disclosure for this sale can be found here. Insiders sold 53,513 shares of company stock worth $2,055,485 in the last 90 days. Corporate insiders own 3.90% of the company’s stock.
XLRN has been the topic of a number of analyst reports. Piper Jaffray Companies reaffirmed a “buy” rating and set a $40.00 price objective on shares of Acceleron Pharma in a research note on Friday, July 28th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Acceleron Pharma in a report on Wednesday, September 20th. Royal Bank Of Canada reiterated a “hold” rating on shares of Acceleron Pharma in a report on Thursday, November 2nd. BidaskClub upgraded Acceleron Pharma from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 6th. Finally, HC Wainwright began coverage on Acceleron Pharma in a research report on Thursday, October 12th. They issued a “buy” rating and a $57.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $43.94.
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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