HC Wainwright restated their buy rating on shares of Acceleron Pharma (NASDAQ:XLRN) in a research report report published on Tuesday morning, AnalystRatings.com reports. HC Wainwright currently has a $68.00 target price on the biopharmaceutical company’s stock.
“We are lowering our price target to $68 from $69 due to the discontinuation of ACE-083 for FSHD. Our $68 price target is based on probability-adjusted revenue forecasts for luspatercept, the company’s earlier stage pipeline, and estimated year-end cash.”,” HC Wainwright’s analyst wrote.
Several other research analysts have also recently issued reports on the stock. BidaskClub cut shares of Acceleron Pharma from a buy rating to a hold rating in a report on Tuesday, August 27th. Credit Suisse Group set a $58.00 target price on shares of Acceleron Pharma and gave the stock a buy rating in a report on Monday, August 26th. Citigroup cut their price target on shares of Acceleron Pharma from $61.00 to $52.00 and set a buy rating on the stock in a report on Tuesday. Zacks Investment Research reiterated a hold rating on shares of Acceleron Pharma in a report on Saturday, July 20th. Finally, ValuEngine upgraded shares of Acceleron Pharma from a buy rating to a strong-buy rating in a report on Thursday, August 8th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $58.60.
Shares of Acceleron Pharma stock opened at $43.29 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.11 and a current ratio of 17.11. Acceleron Pharma has a 52-week low of $37.01 and a 52-week high of $59.59. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of -16.71 and a beta of 1.23. The company’s 50 day moving average price is $44.54 and its 200-day moving average price is $42.89.
Acceleron Pharma (NASDAQ:XLRN) last issued its earnings results on Monday, August 5th. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.10). Acceleron Pharma had a negative return on equity of 29.51% and a negative net margin of 318.84%. The firm had revenue of $27.67 million during the quarter, compared to the consensus estimate of $28.72 million. During the same quarter in the prior year, the business posted ($0.63) EPS. The firm’s revenue for the quarter was up 649.9% on a year-over-year basis. As a group, equities research analysts forecast that Acceleron Pharma will post -2.33 earnings per share for the current fiscal year.
In related news, SVP Ravindra Kumar sold 3,389 shares of Acceleron Pharma stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $45.24, for a total value of $153,318.36. Following the sale, the senior vice president now owns 86,986 shares in the company, valued at $3,935,246.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Habib J. Dable sold 5,625 shares of Acceleron Pharma stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $45.23, for a total transaction of $254,418.75. Following the completion of the sale, the chief executive officer now owns 71,227 shares in the company, valued at approximately $3,221,597.21. The disclosure for this sale can be found here. In the last quarter, insiders sold 88,416 shares of company stock worth $3,636,515. 2.50% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Brown Advisory Inc. grew its stake in shares of Acceleron Pharma by 0.6% during the 2nd quarter. Brown Advisory Inc. now owns 365,844 shares of the biopharmaceutical company’s stock valued at $15,030,000 after acquiring an additional 2,003 shares during the period. Advisor Group Inc. raised its stake in Acceleron Pharma by 91.9% in the second quarter. Advisor Group Inc. now owns 26,679 shares of the biopharmaceutical company’s stock valued at $1,096,000 after buying an additional 12,777 shares during the last quarter. TimesSquare Capital Management LLC raised its stake in Acceleron Pharma by 29.5% in the first quarter. TimesSquare Capital Management LLC now owns 920,715 shares of the biopharmaceutical company’s stock valued at $42,878,000 after buying an additional 209,900 shares during the last quarter. MetLife Investment Advisors LLC raised its stake in Acceleron Pharma by 10.9% in the first quarter. MetLife Investment Advisors LLC now owns 19,308 shares of the biopharmaceutical company’s stock valued at $899,000 after buying an additional 1,902 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its stake in Acceleron Pharma by 6.5% in the first quarter. Westfield Capital Management Co. LP now owns 1,377,123 shares of the biopharmaceutical company’s stock valued at $64,133,000 after buying an additional 84,410 shares during the last quarter. Hedge funds and other institutional investors own 90.12% 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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