BidaskClub upgraded shares of Acceleron Pharma (NASDAQ:XLRN) from a hold rating to a buy rating in a research report report published on Tuesday.
A number of other analysts have also recently commented on the stock. Cann reaffirmed a hold rating on shares of Acceleron Pharma in a report on Wednesday, October 31st. Piper Jaffray Companies raised shares of Acceleron Pharma from a neutral rating to an overweight rating and upped their target price for the company from $52.00 to $75.00 in a report on Monday, September 17th. Morgan Stanley began coverage on shares of Acceleron Pharma in a report on Monday, September 10th. They set an equal weight rating and a $55.00 target price for the company. HC Wainwright reaffirmed a buy rating and set a $73.00 target price on shares of Acceleron Pharma in a report on Friday, August 3rd. Finally, MED reaffirmed a positive rating on shares of Acceleron Pharma in a report on Friday, July 13th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $56.30.
Shares of XLRN stock opened at $54.89 on Tuesday. Acceleron Pharma has a 12 month low of $32.53 and a 12 month high of $59.59. The company has a market cap of $2.47 billion, a price-to-earnings ratio of -20.48 and a beta of 1.49.
Acceleron Pharma (NASDAQ:XLRN) last announced its earnings results on Tuesday, October 30th. The biopharmaceutical company reported ($0.63) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.66) by $0.03. Acceleron Pharma had a negative net margin of 807.36% and a negative return on equity of 32.69%. The business had revenue of $3.30 million during the quarter, compared to analysts’ expectations of $4.37 million. During the same period in the prior year, the company earned ($0.65) earnings per share. The firm’s revenue was up 10.0% on a year-over-year basis. As a group, equities research analysts predict that Acceleron Pharma will post -2.51 EPS for the current year.
In other news, CFO Kevin F. Mclaughlin sold 12,500 shares of the stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $54.00, for a total value of $675,000.00. Following the completion of the sale, the chief financial officer now directly owns 56,439 shares of the company’s stock, valued at $3,047,706. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.90% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Xact Kapitalforvaltning AB boosted its position in shares of Acceleron Pharma by 33.2% during the first quarter. Xact Kapitalforvaltning AB now owns 6,823 shares of the biopharmaceutical company’s stock worth $267,000 after acquiring an additional 1,700 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Acceleron Pharma during the second quarter worth $349,000. Amalgamated Bank bought a new position in shares of Acceleron Pharma during the second quarter worth $281,000. Parametrica Management Ltd bought a new position in shares of Acceleron Pharma during the second quarter worth $274,000. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Acceleron Pharma during the second quarter worth $237,000. 88.42% of the stock is owned by hedge funds and other 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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