Acceleron Pharma (XLRN) Reaches New 1-Year High at $54.34

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Acceleron Pharma Inc (NASDAQ:XLRN)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $54.34 and last traded at $54.02, with a volume of 278118 shares. The stock had previously closed at $53.87.

A number of brokerages recently commented on XLRN. HC Wainwright raised their price objective on shares of Acceleron Pharma to $74.00 and gave the company a “buy” rating in a research report on Tuesday, July 10th. UBS Group raised their price objective on shares of Acceleron Pharma to $62.00 and gave the company a “buy” rating in a research report on Tuesday, July 10th. Credit Suisse Group set a $55.00 price objective on shares of Acceleron Pharma and gave the company a “buy” rating in a research report on Wednesday, May 9th. BidaskClub upgraded shares of Acceleron Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, August 28th. Finally, Morgan Stanley downgraded shares of Acceleron Pharma from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective for the company. in a research report on Friday, July 13th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $51.50.

The stock has a market cap of $2.49 billion, a PE ratio of -19.21 and a beta of 1.38.

Acceleron Pharma (NASDAQ:XLRN) last posted its quarterly earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($0.63) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.64) by $0.01. Acceleron Pharma had a negative net margin of 795.94% and a negative return on equity of 30.78%. The company had revenue of $3.69 million during the quarter, compared to the consensus estimate of $3.37 million. During the same period last year, the firm earned ($0.77) EPS. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. analysts anticipate that Acceleron Pharma Inc will post -2.58 earnings per share for the current fiscal year.

In other news, CFO Kevin F. Mclaughlin sold 12,500 shares of Acceleron Pharma stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $54.00, for a total transaction of $675,000.00. Following the completion of the sale, the chief financial officer now directly owns 56,439 shares in the company, valued at approximately $3,047,706. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kevin F. Mclaughlin sold 25,000 shares of Acceleron Pharma stock in a transaction that occurred on Friday, June 29th. The shares were sold at an average price of $48.00, for a total transaction of $1,200,000.00. Following the sale, the chief financial officer now owns 68,939 shares of the company’s stock, valued at $3,309,072. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of Acceleron Pharma during the 1st quarter valued at approximately $109,000. Dupont Capital Management Corp acquired a new stake in shares of Acceleron Pharma during the 1st quarter valued at approximately $188,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Acceleron Pharma during the 2nd quarter valued at approximately $237,000. Cubist Systematic Strategies LLC acquired a new position in shares of Acceleron Pharma during the 2nd quarter worth approximately $259,000. Finally, Parametrica Management Ltd acquired a new position in shares of Acceleron Pharma during the 2nd quarter worth approximately $274,000. Institutional investors own 88.67% of the company’s stock.

About Acceleron Pharma (NASDAQ:XLRN)

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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