Acceleron Pharma (NASDAQ:XLRN) was upgraded by analysts at Goldman Sachs Group from a “sell” rating to a “neutral” rating in a research note issued on Friday. The brokerage currently has a $40.00 price target on the biopharmaceutical company’s stock, up from their previous price target of $21.00. Goldman Sachs Group’s target price would indicate a potential upside of 17.72% from the company’s previous close.
A number of other research analysts have also recently commented on the company. HC Wainwright restated a “buy” rating and set a $62.00 price target on shares of Acceleron Pharma in a research note on Thursday, April 26th. BidaskClub cut Acceleron Pharma from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 2nd. Cann restated a “hold” rating on shares of Acceleron Pharma in a research note on Tuesday, May 1st. ValuEngine upgraded Acceleron Pharma from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, Citigroup upped their price target on Acceleron Pharma from $44.00 to $63.00 and gave the stock a “positive” rating in a research note on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, five have given 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 $49.80.
Shares of Acceleron Pharma stock opened at $33.98 on Friday. The company has a market capitalization of $1.54 billion, a P/E ratio of -12.68 and a beta of 1.44. Acceleron Pharma has a fifty-two week low of $29.57 and a fifty-two week high of $46.93.
Acceleron Pharma (NASDAQ:XLRN) last issued its quarterly earnings data on Tuesday, May 8th. The biopharmaceutical company reported ($0.58) earnings per share for the quarter, topping the 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 company had revenue of $3.23 million during the quarter, compared to analyst estimates of $3.77 million. During the same period in the prior year, the business posted ($0.66) earnings per share. The firm’s revenue for the quarter was down 12.9% compared to the same quarter last year. analysts anticipate that Acceleron Pharma will post -2.38 EPS for the current fiscal year.
In other news, CFO Kevin F. Mclaughlin sold 4,000 shares of the stock in a transaction on Tuesday, April 3rd. The stock was sold at an average price of $38.45, for a total value of $153,800.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP John D. Quisel sold 1,204 shares of the stock in a transaction on Tuesday, April 3rd. The shares were 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. Over the last quarter, insiders sold 9,804 shares of company stock worth $376,812. 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. MetLife Investment Advisors LLC acquired a new stake in shares of Acceleron Pharma in the fourth quarter valued at $739,000. BlackRock Inc. raised its stake in shares of Acceleron Pharma by 10.1% in the fourth quarter. BlackRock Inc. now owns 4,732,135 shares of the biopharmaceutical company’s stock valued at $200,832,000 after acquiring an additional 434,123 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Acceleron Pharma by 17.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 28,990 shares of the biopharmaceutical company’s stock valued at $1,231,000 after acquiring an additional 4,381 shares in the last quarter. Bamco Inc. NY raised its stake in shares of Acceleron Pharma by 19.3% in the fourth quarter. Bamco Inc. NY now owns 53,880 shares of the biopharmaceutical company’s stock valued at $2,287,000 after acquiring an additional 8,700 shares in the last quarter. Finally, First Trust Advisors LP acquired a new stake in Acceleron Pharma in the fourth quarter valued at $644,000. Institutional investors and hedge funds own 87.52% 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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