ValuEngine upgraded shares of Acceleron Pharma (NASDAQ:XLRN) from a buy rating to a strong-buy rating in a research report report published on Friday.
Other equities analysts also recently issued research reports about the company. Goldman Sachs Group upgraded Acceleron Pharma from a sell rating to a neutral rating and lifted their price target for the company from $21.00 to $40.00 in a research note on Friday. BidaskClub upgraded Acceleron Pharma from a sell rating to a hold rating in a research note on Saturday, June 23rd. Piper Jaffray Companies lifted their price target on Acceleron Pharma to $55.00 and gave the company an overweight rating in a research note on Friday. Credit Suisse Group lifted their price target on Acceleron Pharma from $55.00 to $60.00 and gave the company an outperform rating in a research note on Friday. Finally, HC Wainwright lifted their price target on Acceleron Pharma to $69.00 and gave the company a buy rating in a research note on Wednesday, May 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Acceleron Pharma currently has an average rating of Buy and an average target price of $50.50.
Shares of XLRN traded up $14.54 during trading hours on Friday, hitting $48.52. The stock had a trading volume of 5,356,835 shares, compared to its average volume of 363,286. The company has a market cap of $1.56 billion, a PE ratio of -18.10 and a beta of 1.44. Acceleron Pharma has a 1-year low of $29.57 and a 1-year high of $50.00.
Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings results on Tuesday, May 8th. The biopharmaceutical company reported ($0.58) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.06. The business had revenue of $3.23 million during the quarter, compared to the consensus estimate of $3.77 million. Acceleron Pharma had a negative return on equity of 34.52% and a negative net margin of 839.98%. The company’s quarterly revenue was down 12.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.66) EPS. equities research analysts predict that Acceleron Pharma will post -2.38 earnings per share for the current fiscal year.
In other Acceleron Pharma news, CFO Kevin F. Mclaughlin sold 4,000 shares of Acceleron Pharma stock in a transaction that occurred on Tuesday, April 3rd. The shares were sold at an average price of $38.45, for a total transaction of $153,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Matthew L. Sherman sold 4,600 shares of Acceleron Pharma 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 disclosure for this sale can be found here. In the last three months, insiders have sold 9,804 shares of company stock worth $376,812. Insiders own 3.90% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in shares of Acceleron Pharma during the 1st quarter worth approximately $109,000. Dupont Capital Management Corp bought a new stake in shares of Acceleron Pharma in the 1st quarter worth approximately $188,000. Amalgamated Bank bought a new stake in shares of Acceleron Pharma in the 4th quarter worth approximately $217,000. Xact Kapitalforvaltning AB bought a new stake in shares of Acceleron Pharma in the 4th quarter worth approximately $217,000. Finally, Tyers Asset Management LLC bought a new stake in shares of Acceleron Pharma in the 1st quarter worth approximately $319,000. 87.52% of the stock is currently 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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