Acceleron Pharma (XLRN) Trading Down 9.1%

Acceleron Pharma Inc (NASDAQ:XLRN) was down 9.1% during trading on Tuesday . The company traded as low as $48.85 and last traded at $48.94. Approximately 574,761 shares were traded during mid-day trading, an increase of 55% from the average daily volume of 371,599 shares. The stock had previously closed at $53.85.

A number of equities research analysts have commented on XLRN shares. Morgan Stanley started coverage on Acceleron Pharma in a research note on Monday, September 10th. They issued an “equal weight” rating and a $55.00 price objective for the company. Cann reissued a “hold” rating on shares of Acceleron Pharma in a research note on Wednesday, November 28th. Piper Jaffray Companies raised Acceleron Pharma from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $52.00 to $75.00 in a research note on Monday, September 17th. BidaskClub raised Acceleron Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 6th. Finally, HC Wainwright reissued a “buy” rating and issued a $72.00 price objective on shares of Acceleron Pharma in a research note on Monday. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $56.20.

The stock has a market cap of $2.44 billion, a PE ratio of -18.26 and a beta of 1.53.

Acceleron Pharma (NASDAQ:XLRN) last announced its earnings results on Tuesday, October 30th. The biopharmaceutical company reported ($0.63) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.66) by $0.03. The company had revenue of $3.30 million for the quarter, compared to analysts’ expectations of $4.37 million. Acceleron Pharma had a negative return on equity of 32.69% and a negative net margin of 807.36%. Acceleron Pharma’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.65) earnings per share. On average, equities research analysts forecast that Acceleron Pharma Inc will post -2.51 EPS for the current year.

Several large investors have recently made changes to their positions in the stock. Rhumbline Advisers boosted its position in shares of Acceleron Pharma by 3.4% during the second quarter. Rhumbline Advisers now owns 38,122 shares of the biopharmaceutical company’s stock valued at $1,850,000 after buying an additional 1,268 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Acceleron Pharma by 214.6% during the third quarter. Bank of Montreal Can now owns 1,891 shares of the biopharmaceutical company’s stock valued at $108,000 after buying an additional 1,290 shares during the last quarter. Mackay Shields LLC boosted its position in shares of Acceleron Pharma by 8.7% during the second quarter. Mackay Shields LLC now owns 17,483 shares of the biopharmaceutical company’s stock valued at $848,000 after buying an additional 1,400 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Acceleron Pharma by 36.4% during the third quarter. PNC Financial Services Group Inc. now owns 5,980 shares of the biopharmaceutical company’s stock valued at $343,000 after buying an additional 1,596 shares during the last quarter. Finally, State of Wisconsin Investment Board boosted its position in shares of Acceleron Pharma by 4.2% during the second quarter. State of Wisconsin Investment Board now owns 39,400 shares of the biopharmaceutical company’s stock valued at $1,912,000 after buying an additional 1,600 shares during the last quarter. 95.78% of the stock is currently owned by institutional investors.

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About Acceleron Pharma (NASDAQ:XLRN)

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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