Acceleron Pharma Inc (NASDAQ:XLRN) has been given a consensus recommendation of “Buy” by the fifteen brokerages that are presently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $51.50.
Several brokerages have issued reports on XLRN. BidaskClub raised shares of Acceleron Pharma from a “strong sell” rating to a “sell” rating in a report on Friday, June 15th. Credit Suisse Group upped their price target on shares of Acceleron Pharma from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, June 29th. Cann reaffirmed a “hold” rating on shares of Acceleron Pharma in a report on Thursday, June 28th. UBS Group upped their price objective on shares of Acceleron Pharma to $62.00 and gave the company a “buy” rating in a research note on Tuesday, July 10th. Finally, HC Wainwright reissued a “buy” rating and set a $74.00 price objective on shares of Acceleron Pharma in a research note on Monday, July 23rd.
Shares of NASDAQ XLRN traded down $0.04 on Monday, hitting $51.05. The company’s stock had a trading volume of 140,965 shares, compared to its average volume of 261,709. Acceleron Pharma has a 12-month low of $32.53 and a 12-month high of $54.34. The company has a market capitalization of $2.35 billion, a PE ratio of -19.05 and a beta of 1.39.
Acceleron Pharma (NASDAQ:XLRN) last announced its quarterly earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($0.63) earnings per share (EPS) for the quarter, beating the 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 for the quarter, compared to the consensus estimate of $3.37 million. During the same quarter in the prior year, the firm earned ($0.77) earnings per share. The company’s revenue for the quarter was up 20.5% compared to the same quarter last year. equities research analysts expect that Acceleron Pharma will post -2.58 earnings per share for the current fiscal year.
In related news, CFO Kevin F. Mclaughlin sold 12,500 shares of the company’s 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 transaction, the chief financial officer now owns 56,439 shares of the company’s stock, valued at $3,047,706. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $48.00, for a total transaction of $1,200,000.00. Following the transaction, the chief financial officer now directly owns 68,939 shares in the company, valued at approximately $3,309,072. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.
A number of large investors have recently bought and sold shares of XLRN. Janus Henderson Group PLC purchased a new position in Acceleron Pharma during the second quarter worth approximately $59,835,000. Farallon Capital Management LLC raised its stake in Acceleron Pharma by 28.8% during the first quarter. Farallon Capital Management LLC now owns 1,401,000 shares of the biopharmaceutical company’s stock worth $54,779,000 after purchasing an additional 313,000 shares during the period. DekaBank Deutsche Girozentrale raised its stake in Acceleron Pharma by 1,526.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 307,330 shares of the biopharmaceutical company’s stock worth $12,133,000 after purchasing an additional 288,430 shares during the period. BlackRock Inc. raised its stake in Acceleron Pharma by 4.3% during the second quarter. BlackRock Inc. now owns 4,205,069 shares of the biopharmaceutical company’s stock worth $204,030,000 after purchasing an additional 175,010 shares during the period. Finally, Federated Investors Inc. PA purchased a new position in Acceleron Pharma during the first quarter worth approximately $5,274,000. 88.67% of the stock is currently owned by institutional investors.
About Acceleron Pharma
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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