Acceleron Pharma (NASDAQ:XLRN) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.
A number of other equities research analysts also recently issued reports on XLRN. Cann reissued a “hold” rating on shares of Acceleron Pharma in a research report on Wednesday, October 31st. MED reissued a “positive” rating on shares of Acceleron Pharma in a research report on Friday, July 13th. UBS Group increased their price target on Acceleron Pharma to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, July 10th. Royal Bank of Canada reissued a “hold” rating and set a $48.00 price target on shares of Acceleron Pharma in a research report on Thursday, July 12th. Finally, HC Wainwright increased their price target on Acceleron Pharma to $74.00 and gave the stock a “buy” rating in a research report on Tuesday, July 10th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $56.30.
Shares of NASDAQ:XLRN opened at $53.95 on Tuesday. The company has a market cap of $2.46 billion, a P/E ratio of -20.13 and a beta of 1.49. Acceleron Pharma has a 1 year low of $32.53 and a 1 year high of $59.59.
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 the Zacks’ consensus estimate 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 32.69% and a negative net margin of 807.36%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.65) earnings per share. Analysts forecast that Acceleron Pharma will post -2.51 EPS for the current fiscal year.
In other Acceleron Pharma news, CFO Kevin F. Mclaughlin sold 12,500 shares of the company’s stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $54.00, for a total transaction of $675,000.00. Following the completion of the sale, the chief financial officer now directly owns 56,439 shares in the company, valued at $3,047,706. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.00% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Comerica Bank bought a new stake in Acceleron Pharma during the third quarter worth $1,220,000. Stanley Laman Group Ltd. bought a new stake in Acceleron Pharma during the third quarter worth $7,155,000. Congress Asset Management Co. MA lifted its stake in Acceleron Pharma by 11.3% during the third quarter. Congress Asset Management Co. MA now owns 17,238 shares of the biopharmaceutical company’s stock worth $987,000 after purchasing an additional 1,750 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Acceleron Pharma by 50.5% during the third quarter. Russell Investments Group Ltd. now owns 7,017 shares of the biopharmaceutical company’s stock worth $401,000 after purchasing an additional 2,354 shares during the last quarter. Finally, Alps Advisors Inc. lifted its stake in Acceleron Pharma by 22.5% during the third quarter. Alps Advisors Inc. now owns 81,407 shares of the biopharmaceutical company’s stock worth $4,659,000 after purchasing an additional 14,975 shares during the last quarter. Hedge funds and other institutional investors own 88.42% 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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