Comerica Bank bought a new stake in Acceleron Pharma Inc (NASDAQ:XLRN) during the third quarter, HoldingsChannel.com reports. The firm bought 24,079 shares of the biopharmaceutical company’s stock, valued at approximately $1,220,000.
Several other hedge funds have also modified their holdings of the business. BlackRock Inc. boosted its holdings in shares of Acceleron Pharma by 4.3% in the 2nd quarter. BlackRock Inc. now owns 4,205,069 shares of the biopharmaceutical company’s stock valued at $204,030,000 after purchasing an additional 175,010 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Acceleron Pharma in the 2nd quarter valued at $59,835,000. Brown Advisory Inc. boosted its holdings in shares of Acceleron Pharma by 1.5% in the 2nd quarter. Brown Advisory Inc. now owns 512,206 shares of the biopharmaceutical company’s stock valued at $24,852,000 after purchasing an additional 7,529 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Acceleron Pharma by 3.6% in the 2nd quarter. Northern Trust Corp now owns 453,058 shares of the biopharmaceutical company’s stock valued at $21,982,000 after purchasing an additional 15,661 shares in the last quarter. Finally, Artisan Partners Limited Partnership boosted its holdings in shares of Acceleron Pharma by 14.2% in the 2nd quarter. Artisan Partners Limited Partnership now owns 402,148 shares of the biopharmaceutical company’s stock valued at $19,512,000 after purchasing an additional 49,862 shares in the last quarter. 95.78% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ XLRN opened at $49.96 on Friday. Acceleron Pharma Inc has a twelve month low of $32.53 and a twelve month high of $59.59. The firm has a market cap of $2.26 billion, a P/E ratio of -18.64 and a beta of 1.53.
Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings data on Tuesday, October 30th. The biopharmaceutical company reported ($0.63) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.66) by $0.03. Acceleron Pharma had a negative return on equity of 32.69% and a negative net margin of 807.36%. The company had revenue of $3.30 million for the quarter, compared to the consensus estimate of $4.37 million. During the same quarter last year, the business posted ($0.65) EPS. Acceleron Pharma’s revenue for the quarter was up 10.0% on a year-over-year basis. Research analysts forecast that Acceleron Pharma Inc will post -2.51 earnings per share for the current year.
In related news, CEO Habib J. Dable sold 12,675 shares of the firm’s stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $52.99, for a total transaction of $671,648.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.90% of the company’s stock.
A number of brokerages have weighed in on XLRN. BidaskClub raised Acceleron Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, August 28th. HC Wainwright reaffirmed a “buy” rating and issued a $72.00 target price on shares of Acceleron Pharma in a report on Monday. Piper Jaffray Companies raised Acceleron Pharma from a “neutral” rating to an “overweight” rating and raised their target price for the company from $52.00 to $75.00 in a report on Monday, September 17th. Finally, Cann reaffirmed a “hold” rating on shares of Acceleron Pharma in a report on Wednesday, October 31st. Five 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 company’s stock. Acceleron Pharma presently has a consensus rating of “Buy” and an average target price of $56.20.
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Acceleron Pharma 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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