Acceleron Pharma Inc (NASDAQ:XLRN) – Stock analysts at Leerink Swann decreased their FY2018 earnings per share estimates for Acceleron Pharma in a report released on Wednesday, October 31st. Leerink Swann analyst G. Porges now forecasts that the biopharmaceutical company will post earnings per share of ($2.49) for the year, down from their previous forecast of ($2.48). Leerink Swann also issued estimates for Acceleron Pharma’s Q4 2018 earnings at ($0.66) EPS, FY2019 earnings at ($1.35) EPS, FY2020 earnings at ($1.93) EPS and FY2021 earnings at ($1.83) EPS.
XLRN has been the topic of several other reports. Morgan Stanley began coverage on shares of Acceleron Pharma in a report on Monday, September 10th. They issued an “equal weight” rating and a $55.00 price target on the stock. Cann reaffirmed a “hold” rating on shares of Acceleron Pharma in a report on Wednesday. Piper Jaffray Companies raised shares of Acceleron Pharma from a “neutral” rating to an “overweight” rating and upped their price target for the company from $52.00 to $75.00 in a report on Monday, September 17th. BidaskClub lowered shares of Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 9th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $48.00 price target on shares of Acceleron Pharma in a report on Thursday, July 12th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $56.30.
NASDAQ XLRN opened at $53.20 on Friday. Acceleron Pharma has a 1 year low of $32.53 and a 1 year high of $59.59. The firm has a market capitalization of $2.21 billion, a P/E ratio of -19.85 and a beta of 1.38.
Acceleron Pharma (NASDAQ:XLRN) last issued its quarterly earnings results on Tuesday, October 30th. The biopharmaceutical company reported ($0.63) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.03. The business had revenue of $3.30 million for the quarter, compared to the consensus estimate of $4.37 million. Acceleron Pharma had a negative return on equity of 31.95% and a negative net margin of 807.36%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.65) earnings per share.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in shares of Acceleron Pharma by 4.3% during the 2nd quarter. BlackRock Inc. now owns 4,205,069 shares of the biopharmaceutical company’s stock worth $204,030,000 after purchasing an additional 175,010 shares during the last quarter. Janus Henderson Group PLC acquired a new position in shares of Acceleron Pharma during the 2nd quarter worth about $59,835,000. Brown Advisory Inc. raised its position in shares of Acceleron Pharma by 1.5% during the 2nd quarter. Brown Advisory Inc. now owns 512,206 shares of the biopharmaceutical company’s stock worth $24,852,000 after purchasing an additional 7,529 shares during the last quarter. Northern Trust Corp raised its position in shares of Acceleron Pharma by 3.6% during the 2nd quarter. Northern Trust Corp now owns 453,058 shares of the biopharmaceutical company’s stock worth $21,982,000 after purchasing an additional 15,661 shares during the last quarter. Finally, Artisan Partners Limited Partnership raised its position in shares of Acceleron Pharma by 14.2% during the 2nd quarter. Artisan Partners Limited Partnership now owns 402,148 shares of the biopharmaceutical company’s stock worth $19,512,000 after purchasing an additional 49,862 shares during the last quarter. Hedge funds and other institutional investors own 88.28% of the company’s stock.
In other news, CFO Kevin F. Mclaughlin sold 12,500 shares of the stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $54.00, for a total transaction of $675,000.00. Following the sale, the chief financial officer now directly owns 56,439 shares of the company’s stock, valued at approximately $3,047,706. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.90% of the company’s stock.
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.
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