$3.37 Million in Sales Expected for Acceleron Pharma Inc. (XLRN) This Quarter
Equities research analysts expect Acceleron Pharma Inc. (NASDAQ:XLRN) to post sales of $3.37 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Acceleron Pharma’s earnings, with the lowest sales estimate coming in at $2.76 million and the highest estimate coming in at $4.40 million. Acceleron Pharma also reported sales of $3.37 million in the same quarter last year. The business is scheduled to report its next earnings report on Wednesday, March 7th.
According to Zacks, analysts expect that Acceleron Pharma will report full-year sales of $3.37 million for the current financial year, with estimates ranging from $12.54 million to $14.50 million. For the next fiscal year, analysts anticipate that the firm will report sales of $27.98 million per share, with estimates ranging from $13.20 million to $37.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Acceleron Pharma.
Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.67) by $0.02. The business had revenue of $3.00 million during the quarter, compared to analysts’ expectations of $3.52 million. Acceleron Pharma had a negative net margin of 759.34% and a negative return on equity of 40.70%. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.55) EPS.
A number of equities analysts recently issued reports on XLRN shares. Credit Suisse Group set a $35.00 price objective on shares of Acceleron Pharma and gave the stock a “buy” rating in a research report on Saturday, August 5th. HC Wainwright upped their price objective on shares of Acceleron Pharma from $57.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, November 7th. Cann reiterated a “hold” rating on shares of Acceleron Pharma in a research report on Tuesday, September 5th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Acceleron Pharma in a research report on Tuesday, September 5th. Finally, BidaskClub cut shares of Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. 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 issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $43.94.
In related news, major shareholder Corp /De/ Celgene bought 745,592 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The shares were acquired at an average cost of $37.00 per share, with a total value of $27,586,904.00. Following the completion of the purchase, the insider now directly owns 6,118,479 shares in the company, valued at $226,383,723. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Christopher Rovaldi sold 14,000 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $38.41, for a total transaction of $537,740.00. Following the transaction, the senior vice president now directly owns 28,232 shares in the company, valued at $1,084,391.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,513 shares of company stock worth $2,055,485. Insiders own 3.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP boosted its stake in Acceleron Pharma by 416.3% during the third quarter. Quantbot Technologies LP now owns 2,917 shares of the biopharmaceutical company’s stock worth $108,000 after acquiring an additional 2,352 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Acceleron Pharma by 969.9% during 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 last quarter. NJ State Employees Deferred Compensation Plan acquired a new position in Acceleron Pharma during the second quarter worth $213,000. Oppenheimer & Co. Inc. acquired a new position in Acceleron Pharma during the third quarter worth $225,000. Finally, Tudor Investment Corp ET AL raised its holdings in Acceleron Pharma by 8.5% during 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 last quarter. 75.85% of the stock is currently owned by institutional investors and hedge funds.
Acceleron Pharma (NASDAQ XLRN) opened at $35.02 on Tuesday. Acceleron Pharma has a 12-month low of $23.07 and a 12-month high of $41.69.
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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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