Acceleron Pharma (XLRN) Cut to “Strong Sell” at BidaskClub

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BidaskClub lowered shares of Acceleron Pharma (NASDAQ:XLRN) from a sell rating to a strong sell rating in a research note issued to investors on Tuesday morning, BidAskClub reports.

XLRN has been the topic of a number of other reports. HC Wainwright restated a buy rating and issued a $67.00 price target (down from $72.00) on shares of Acceleron Pharma in a report on Thursday, February 28th. ValuEngine upgraded shares of Acceleron Pharma from a buy rating to a strong-buy rating in a report on Thursday, April 4th. Finally, Cowen started coverage on shares of Acceleron Pharma in a report on Monday, February 25th. They issued an outperform rating and a $78.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $60.63.

NASDAQ XLRN opened at $39.69 on Tuesday. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of -15.32 and a beta of 1.41. Acceleron Pharma has a one year low of $32.53 and a one year high of $59.59.

Acceleron Pharma (NASDAQ:XLRN) last posted its earnings results on Wednesday, February 27th. The biopharmaceutical company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.07). The business had revenue of $3.80 million for the quarter, compared to analysts’ expectations of $3.21 million. Acceleron Pharma had a negative net margin of 849.62% and a negative return on equity of 36.63%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the business posted ($0.62) EPS. As a group, equities research analysts expect that Acceleron Pharma will post -2.21 earnings per share for the current fiscal year.

In related news, CFO Kevin F. Mclaughlin sold 648 shares of Acceleron Pharma stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $48.02, for a total value of $31,116.96. Following the completion of the sale, the chief financial officer now directly owns 42,279 shares in the company, valued at approximately $2,030,237.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin F. Mclaughlin sold 12,000 shares of Acceleron Pharma stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $44.62, for a total transaction of $535,440.00. Following the completion of the sale, the chief financial officer now owns 30,379 shares of the company’s stock, valued at $1,355,510.98. The disclosure for this sale can be found here. Insiders sold a total of 23,730 shares of company stock worth $1,060,959 over the last 90 days. Company insiders own 3.00% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank boosted its stake in Acceleron Pharma by 1.2% in the 4th quarter. Comerica Bank now owns 24,369 shares of the biopharmaceutical company’s stock worth $964,000 after purchasing an additional 290 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Acceleron Pharma by 17.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,602 shares of the biopharmaceutical company’s stock worth $113,000 after purchasing an additional 386 shares in the last quarter. Knott David M boosted its stake in Acceleron Pharma by 6.1% in the 4th quarter. Knott David M now owns 17,400 shares of the biopharmaceutical company’s stock worth $758,000 after purchasing an additional 1,000 shares in the last quarter. Clarfeld Financial Advisors LLC acquired a new stake in Acceleron Pharma in the 4th quarter worth approximately $44,000. Finally, PNC Financial Services Group Inc. boosted its stake in Acceleron Pharma by 24.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the biopharmaceutical company’s stock worth $323,000 after purchasing an additional 1,460 shares in the last quarter. Institutional investors own 86.13% of the company’s stock.

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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Analyst Recommendations for Acceleron Pharma (NASDAQ:XLRN)

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