Wall Street brokerages forecast that Acceleron Pharma Inc (NASDAQ:XLRN) will post sales of $3.49 million for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Acceleron Pharma’s earnings. The highest sales estimate is $4.31 million and the lowest is $2.50 million. Acceleron Pharma posted sales of $3.01 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 15.9%. The firm is scheduled to announce its next earnings results on Tuesday, November 6th.
According to Zacks, analysts expect that Acceleron Pharma will report full year sales of $14.02 million for the current financial year, with estimates ranging from $12.60 million to $15.77 million. For the next fiscal year, analysts anticipate that the company will post sales of $67.03 million per share, with estimates ranging from $17.50 million to $170.19 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Acceleron Pharma.
Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($0.63) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.64) by $0.01. The firm had revenue of $3.69 million during the quarter, compared to analysts’ expectations of $3.37 million. Acceleron Pharma had a negative return on equity of 30.78% and a negative net margin of 795.94%. Acceleron Pharma’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.77) EPS.
XLRN has been the subject of a number of analyst reports. HC Wainwright upped their price target on Acceleron Pharma to $74.00 and gave the stock a “buy” rating in a report on Tuesday, July 10th. UBS Group upped their price target on Acceleron Pharma to $62.00 and gave the stock a “buy” rating in a report on Tuesday, July 10th. BidaskClub upgraded Acceleron Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, August 28th. Morgan Stanley cut Acceleron Pharma from an “overweight” rating to an “equal weight” rating and set a $50.00 price target for the company. in a report on Friday, July 13th. Finally, Cann restated a “hold” rating on shares of Acceleron Pharma in a report on Thursday, June 28th. 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. The company presently has an average rating of “Buy” and a consensus price target of $51.50.
NASDAQ XLRN traded down $0.04 on Tuesday, reaching $51.05. The company had a trading volume of 140,965 shares, compared to its average volume of 361,608. The stock has a market cap of $2.42 billion, a PE ratio of -19.32 and a beta of 1.39. Acceleron Pharma has a 1 year low of $32.53 and a 1 year high of $54.34.
In other news, CFO Kevin F. Mclaughlin sold 12,500 shares of the stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $54.00, for a total transaction of $675,000.00. Following the completion of the transaction, 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 document filed with the SEC, which is accessible through this link. Also, CFO Kevin F. Mclaughlin sold 25,000 shares of the stock in a transaction that occurred on Friday, June 29th. The shares were sold at an average price of $48.00, for a total value of $1,200,000.00. Following the transaction, 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. Corporate insiders own 3.90% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its position in shares of Acceleron Pharma by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 171,104 shares of the biopharmaceutical company’s stock valued at $8,302,000 after acquiring an additional 5,028 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Acceleron Pharma by 241.4% during the 2nd quarter. California Public Employees Retirement System now owns 72,714 shares of the biopharmaceutical company’s stock valued at $3,528,000 after acquiring an additional 51,414 shares in the last quarter. Highland Capital Management LP acquired a new stake in shares of Acceleron Pharma during the 2nd quarter valued at approximately $291,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Acceleron Pharma during the 2nd quarter valued at approximately $259,000. Finally, Crawford Lake Capital Management LLC acquired a new stake in shares of Acceleron Pharma during the 2nd quarter valued at approximately $927,000. 88.67% of the stock is currently owned by institutional investors and hedge funds.
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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