ValuEngine lowered shares of Acceleron Pharma (NASDAQ:XLRN) from a strong-buy rating to a buy rating in a research report report published on Thursday, ValuEngine reports.
XLRN has been the topic of a number of other reports. BidaskClub raised Acceleron Pharma from a sell rating to a hold rating in a report on Tuesday, February 5th. Cowen assumed coverage on Acceleron Pharma in a report on Monday, February 25th. They issued an outperform rating and a $78.00 target price on the stock. Finally, HC Wainwright reaffirmed a buy rating and issued a $67.00 target price (down from $72.00) on shares of Acceleron Pharma in a report on Thursday, February 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. Acceleron Pharma currently has a consensus rating of Buy and a consensus target price of $60.63.
Acceleron Pharma stock traded down $0.78 during trading on Thursday, reaching $39.69. The company had a trading volume of 401,293 shares, compared to its average volume of 478,388. Acceleron Pharma has a 52 week low of $32.53 and a 52 week high of $59.59. The stock has a market cap of $2.09 billion, a P/E ratio of -15.32 and a beta of 1.41.
Acceleron Pharma (NASDAQ:XLRN) last announced its earnings results on Wednesday, February 27th. The biopharmaceutical company reported ($0.75) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.68) by ($0.07). Acceleron Pharma had a negative return on equity of 36.63% and a negative net margin of 849.62%. The company had revenue of $3.80 million during the quarter, compared to the consensus estimate of $3.21 million. During the same period in the prior year, the business posted ($0.62) earnings per share. Acceleron Pharma’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Acceleron Pharma will post -2.21 EPS for the current fiscal year.
In other Acceleron Pharma news, EVP John D. Quisel sold 3,622 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $44.64, for a total transaction of $161,686.08. Following the sale, the executive vice president now directly owns 54,004 shares of the company’s stock, valued at $2,410,738.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kevin F. Mclaughlin sold 648 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $48.02, for a total value of $31,116.96. Following the sale, the chief financial officer now directly owns 42,279 shares in the company, valued at $2,030,237.58. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,730 shares of company stock worth $1,060,959. Insiders own 3.00% of the company’s stock.
A number of large investors have recently bought and sold shares of XLRN. Bank of New York Mellon Corp raised its holdings in Acceleron Pharma by 10.7% during the third quarter. Bank of New York Mellon Corp now owns 189,390 shares of the biopharmaceutical company’s stock valued at $10,839,000 after acquiring an additional 18,286 shares during the period. PNC Financial Services Group Inc. grew 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 purchasing an additional 1,596 shares in the last quarter. BlackRock Inc. grew its position in shares of Acceleron Pharma by 3.4% during the third quarter. BlackRock Inc. now owns 4,347,892 shares of the biopharmaceutical company’s stock valued at $248,830,000 after purchasing an additional 142,823 shares in the last quarter. Pacer Advisors Inc. purchased a new position in shares of Acceleron Pharma during the third quarter valued at about $169,000. Finally, Man Group plc purchased a new position in shares of Acceleron Pharma during the third quarter valued at about $406,000. 86.13% of the stock is currently owned by institutional investors and hedge funds.
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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