BidaskClub upgraded shares of Acceleron Pharma (NASDAQ:XLRN) from a sell rating to a hold rating in a report issued on Friday, BidAskClub reports.
XLRN has been the subject of a number of other reports. Cowen reaffirmed a buy rating and set a $78.00 price target on shares of Acceleron Pharma in a research report on Sunday, May 12th. Zacks Investment Research reaffirmed a hold rating on shares of Acceleron Pharma in a research report on Saturday, July 20th. Citigroup reissued a buy rating and issued a $66.00 target price on shares of Acceleron Pharma in a research report on Friday, May 24th. Goldman Sachs Group reissued a neutral rating and issued a $54.00 target price on shares of Acceleron Pharma in a research report on Wednesday, May 29th. Finally, Morgan Stanley set a $53.00 target price on Acceleron Pharma and gave the stock a hold rating in a research report on Monday, July 15th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Acceleron Pharma presently has an average rating of Buy and a consensus price target of $60.63.
Shares of XLRN opened at $44.04 on Friday. The company has a quick ratio of 19.26, a current ratio of 19.26 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $2.31 billion, a P/E ratio of -17.00 and a beta of 1.17. The firm’s 50 day simple moving average is $41.36. Acceleron Pharma has a 12 month low of $37.01 and a 12 month high of $59.59.
Acceleron Pharma (NASDAQ:XLRN) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.74) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.67) by ($0.07). The business had revenue of $2.78 million for the quarter, compared to analysts’ expectations of $3.67 million. Acceleron Pharma had a negative net margin of 965.39% and a negative return on equity of 35.94%. The business’s revenue was down 13.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.58) earnings per share. Sell-side analysts anticipate that Acceleron Pharma will post -2.44 EPS for the current year.
In other Acceleron Pharma news, Director Jean George sold 25,688 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $39.16, for a total value of $1,005,942.08. Following the completion of the sale, the director now directly owns 23,750 shares of the company’s stock, valued at $930,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph S. Zakrzewski bought 5,000 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was purchased at an average cost of $38.05 per share, with a total value of $190,250.00. Following the completion of the transaction, the director now directly owns 12,750 shares of the company’s stock, valued at $485,137.50. The disclosure for this purchase can be found here. Insiders sold 63,726 shares of company stock valued at $2,519,969 over the last three months. Company insiders own 2.50% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in XLRN. Raymond James Financial Services Advisors Inc. bought a new position in shares of Acceleron Pharma during the 4th quarter valued at about $223,000. Advisor Group Inc. lifted its holdings in shares of Acceleron Pharma by 554.8% during the 4th quarter. Advisor Group Inc. now owns 4,256 shares of the biopharmaceutical company’s stock valued at $186,000 after purchasing an additional 3,606 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Acceleron Pharma by 7.7% during the 4th quarter. Geode Capital Management LLC now owns 453,463 shares of the biopharmaceutical company’s stock valued at $19,748,000 after purchasing an additional 32,521 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Acceleron Pharma by 14.5% during the 4th quarter. Bank of America Corp DE now owns 50,209 shares of the biopharmaceutical company’s stock valued at $2,187,000 after purchasing an additional 6,366 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. bought a new position in shares of Acceleron Pharma during the 4th quarter valued at about $157,000. Institutional investors own 92.55% of the company’s stock.
About Acceleron Pharma
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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