Acceleron Pharma (XLRN) Stock Rating Upgraded by BidaskClub

Acceleron Pharma (NASDAQ:XLRN) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Several other equities analysts have also issued reports on the company. Credit Suisse Group set a $55.00 price target on Acceleron Pharma and gave the company a “buy” rating in a research note on Wednesday, May 9th. HC Wainwright boosted their price target on Acceleron Pharma to $69.00 and gave the company a “buy” rating in a research note on Wednesday, May 9th. ValuEngine raised Acceleron Pharma from a “hold” rating to a “buy” rating in a research note on Friday, May 4th. Cann reissued a “hold” rating on shares of Acceleron Pharma in a research note on Tuesday, May 1st. Finally, Citigroup boosted their price target on Acceleron Pharma from $44.00 to $63.00 and gave the company a “positive” rating in a research note on Thursday, March 1st. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $50.89.

Shares of XLRN stock opened at $37.37 on Friday. Acceleron Pharma has a one year low of $29.35 and a one year high of $46.93. The company has a market capitalization of $1.70 billion, a P/E ratio of -13.94 and a beta of 1.44.

Acceleron Pharma (NASDAQ:XLRN) last announced its earnings results on Tuesday, May 8th. The biopharmaceutical company reported ($0.58) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.64) by $0.06. Acceleron Pharma had a negative return on equity of 34.52% and a negative net margin of 839.98%. The business had revenue of $3.23 million for the quarter, compared to analysts’ expectations of $3.77 million. During the same period in the prior year, the business posted ($0.66) earnings per share. The firm’s revenue was down 12.9% on a year-over-year basis. equities analysts predict that Acceleron Pharma will post -2.38 EPS for the current fiscal year.

In other news, EVP Matthew L. Sherman sold 4,600 shares of the company’s stock in a transaction that occurred on Tuesday, April 3rd. The stock was sold at an average price of $38.43, for a total transaction of $176,778.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP John D. Quisel sold 1,204 shares of the company’s stock in a transaction that occurred on Tuesday, April 3rd. The stock was sold at an average price of $38.40, for a total value of $46,233.60. The disclosure for this sale can be found here. Insiders have sold 9,804 shares of company stock worth $376,812 over the last ninety days. 3.90% of the stock is owned by insiders.

Several large investors have recently modified their holdings of XLRN. SG Americas Securities LLC acquired a new position in shares of Acceleron Pharma during the first quarter worth approximately $109,000. Dupont Capital Management Corp acquired a new position in shares of Acceleron Pharma during the first quarter worth approximately $188,000. Amalgamated Bank acquired a new position in shares of Acceleron Pharma during the fourth quarter worth approximately $217,000. Xact Kapitalforvaltning AB acquired a new position in shares of Acceleron Pharma during the fourth quarter worth approximately $217,000. Finally, Tyers Asset Management LLC acquired a new position in shares of Acceleron Pharma during the first quarter worth approximately $319,000. 87.52% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Acceleron Pharma (NASDAQ:XLRN)

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