Acceleron Pharma Inc. (NASDAQ:XLRN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.
According to Zacks, “Acceleron Pharma Inc. is a biopharmaceutical company which focuses on the discovery, development and commercialization of protein therapeutics for cancer and rare diseases. Acceleron Pharma Inc. is based in Cambridge, Massachusetts. “
A number of other brokerages also recently issued reports on XLRN. Barclays PLC upped their price objective on shares of Acceleron Pharma from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday, June 13th. Citigroup Inc. initiated coverage on shares of Acceleron Pharma in a research report on Thursday, September 29th. They set a “neutral” rating and a $40.00 target price for the company. FBR & Co reissued a “buy” rating on shares of Acceleron Pharma in a research report on Wednesday, September 28th. Leerink Swann reissued a “buy” rating on shares of Acceleron Pharma in a research report on Sunday, June 12th. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of Acceleron Pharma in a research report on Sunday, July 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $47.11.
Shares of Acceleron Pharma (NASDAQ:XLRN) opened at 33.47 on Thursday. The firm’s market cap is $1.26 billion. Acceleron Pharma has a 52 week low of $21.93 and a 52 week high of $50.86. The company’s 50-day moving average price is $33.90 and its 200 day moving average price is $32.52.
Acceleron Pharma (NASDAQ:XLRN) last issued its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.59) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.50) by $0.09. Acceleron Pharma had a negative return on equity of 30.00% and a negative net margin of 190.41%. The firm earned $3.20 million during the quarter, compared to the consensus estimate of $3.77 million. The firm’s revenue for the quarter was down 43.9% on a year-over-year basis. On average, equities analysts anticipate that Acceleron Pharma will post ($1.59) earnings per share for the current year.
In related news, SVP John D. Quisel sold 21,438 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $32.14, for a total value of $689,017.32. Following the completion of the transaction, the senior vice president now directly owns 86,723 shares of the company’s stock, valued at approximately $2,787,277.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP John D. Quisel sold 45,952 shares of the stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $38.05, for a total transaction of $1,748,473.60. Following the completion of the sale, the senior vice president now owns 77,004 shares in the company, valued at $2,930,002.20. The disclosure for this sale can be found here. 12.20% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of XLRN. Legal & General Group Plc boosted its stake in Acceleron Pharma by 33.8% in the first quarter. Legal & General Group Plc now owns 4,041 shares of the biopharmaceutical company’s stock valued at $109,000 after buying an additional 1,020 shares in the last quarter. Acrospire Investment Management LLC purchased a new stake in Acceleron Pharma during the second quarter valued at about $110,000. Teacher Retirement System of Texas boosted its stake in Acceleron Pharma by 14.3% in the second quarter. Teacher Retirement System of Texas now owns 3,817 shares of the biopharmaceutical company’s stock valued at $130,000 after buying an additional 477 shares in the last quarter. Pacad Investment Ltd. purchased a new stake in Acceleron Pharma during the second quarter valued at about $133,000. Finally, PNC Financial Services Group Inc. boosted its stake in Acceleron Pharma by 4,112.5% in the second quarter. PNC Financial Services Group Inc. now owns 5,055 shares of the biopharmaceutical company’s stock valued at $172,000 after buying an additional 4,935 shares in the last quarter. Institutional investors and hedge funds own 75.55% of the company’s stock.
Acceleron Pharma Company Profile
Acceleron Pharma Inc is a United States-based clinical stage biopharmaceutical company. The Company focuses on discovering and developing therapies to treat a range of diseases. Its therapeutic candidate, luspatercept, is being evaluated in Phase III studies for the treatment of the hematologic diseases myelodysplastic syndromes (MDS) and beta-thalassemia.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Acceleron Pharma Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acceleron Pharma Inc. and related companies with MarketBeat.com's FREE daily email newsletter.