BidaskClub downgraded shares of Acceleron Pharma (NASDAQ:XLRN) from a hold rating to a sell rating in a report published on Wednesday.
A number of other analysts also recently commented on the stock. Cann restated a hold rating on shares of Acceleron Pharma in a research report on Monday, January 8th. Credit Suisse Group restated an outperform rating and set a $55.00 price target on shares of Acceleron Pharma in a research report on Thursday, January 18th. JPMorgan Chase upgraded shares of Acceleron Pharma from a neutral rating to an overweight rating and set a $33.00 price target on the stock in a research report on Monday, February 26th. Citigroup lifted their price objective on shares of Acceleron Pharma from $44.00 to $63.00 and gave the stock a positive rating in a research note on Thursday, March 1st. Finally, Barclays lifted their price objective on shares of Acceleron Pharma from $50.00 to $54.00 and gave the stock an overweight rating in a research note on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. Acceleron Pharma currently has a consensus rating of Buy and a consensus target price of $47.06.
XLRN stock opened at $35.59 on Wednesday. Acceleron Pharma has a 52 week low of $24.37 and a 52 week high of $46.93. The stock has a market cap of $1,705.22, a price-to-earnings ratio of -13.28 and a beta of 1.43.
Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.02). Acceleron Pharma had a negative return on equity of 38.71% and a negative net margin of 804.49%. The company had revenue of $3.71 million for the quarter, compared to the consensus estimate of $3.39 million. sell-side analysts anticipate that Acceleron Pharma will post -2.5 earnings per share for the current fiscal year.
In other news, SVP John D. Quisel sold 1,204 shares of Acceleron Pharma stock in a transaction that occurred on Tuesday, April 3rd. The shares were sold at an average price of $38.40, for a total value of $46,233.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kevin F. Mclaughlin sold 4,000 shares of Acceleron Pharma stock in a transaction that occurred on Tuesday, April 3rd. The stock was sold at an average price of $38.45, for a total transaction of $153,800.00. The disclosure for this sale can be found here. Insiders sold a total of 47,304 shares of company stock worth $1,930,062 in the last ninety days. Corporate insiders own 3.90% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in XLRN. Carillon Tower Advisers Inc. purchased a new position in shares of Acceleron Pharma in the fourth quarter worth approximately $40,014,000. BlackRock Inc. increased its position in shares of Acceleron Pharma by 10.1% in the fourth quarter. BlackRock Inc. now owns 4,732,135 shares of the biopharmaceutical company’s stock worth $200,832,000 after acquiring an additional 434,123 shares in the last quarter. Tekla Capital Management LLC increased its position in shares of Acceleron Pharma by 375.0% in the fourth quarter. Tekla Capital Management LLC now owns 283,383 shares of the biopharmaceutical company’s stock worth $12,027,000 after acquiring an additional 223,729 shares in the last quarter. American Century Companies Inc. increased its position in shares of Acceleron Pharma by 567.6% in the fourth quarter. American Century Companies Inc. now owns 213,387 shares of the biopharmaceutical company’s stock worth $9,056,000 after acquiring an additional 181,423 shares in the last quarter. Finally, Farallon Capital Management LLC increased its position in shares of Acceleron Pharma by 13.0% in the fourth quarter. Farallon Capital Management LLC now owns 1,088,000 shares of the biopharmaceutical company’s stock worth $46,175,000 after acquiring an additional 125,000 shares in the last quarter. 88.23% of the stock is currently owned by institutional investors and hedge funds.
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Acceleron Pharma Company Profile
Acceleron Pharma Inc, a clinical stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics to treat serious and rare diseases. Its therapeutic candidates include luspatercept, which is in Phase III clinical trials for the treatment of myelodysplastic syndromes and beta-thalassemia; Phase II clinical trials for the treatment of patients with transfusion-dependent beta-thalassemia and myelofibrosis.
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