Acceleron Pharma Inc. (NASDAQ:XLRN) has received an average recommendation of “Buy” from the eleven analysts that are covering the stock. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $44.50.
XLRN has been the subject of several analyst reports. Zacks Investment Research upgraded Acceleron Pharma from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Wednesday, July 20th. Credit Suisse Group AG restated a “buy” rating on shares of Acceleron Pharma in a research note on Sunday, July 10th. FBR & Co restated a “buy” rating on shares of Acceleron Pharma in a research note on Wednesday, September 28th. BTIG Research initiated coverage on Acceleron Pharma in a research note on Friday, August 19th. They set a “buy” rating and a $46.00 price target for the company. Finally, Morgan Stanley restated a “buy” rating and set a $58.00 price target on shares of Acceleron Pharma in a research note on Friday, August 5th.
Acceleron Pharma (NASDAQ:XLRN) opened at 29.74 on Tuesday. The firm has a 50-day moving average price of $34.14 and a 200-day moving average price of $32.72. Acceleron Pharma has a one year low of $22.67 and a one year high of $50.86. The stock’s market cap is $1.12 billion.
Acceleron Pharma (NASDAQ:XLRN) last issued its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.59) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.50) by $0.09. Acceleron Pharma had a negative net margin of 190.41% and a negative return on equity of 30.00%. The firm earned $3.20 million during the quarter, compared to analysts’ expectations of $3.77 million. The company’s quarterly revenue was down 43.9% compared to the same quarter last year. On average, equities analysts predict that Acceleron Pharma will post ($1.59) earnings per share for the current year.
In other Acceleron Pharma news, SVP John D. Quisel sold 45,952 shares of the company’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $38.05, for a total value of $1,748,473.60. Following the sale, the senior vice president now owns 77,004 shares of the company’s stock, valued at $2,930,002.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jean George sold 857,145 shares of the company’s stock in a transaction on Friday, September 30th. The shares were sold at an average price of $35.50, for a total value of $30,428,647.50. The disclosure for this sale can be found here. Corporate insiders own 12.20% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Alps Advisors Inc. raised its stake in Acceleron Pharma by 25.3% in the second quarter. Alps Advisors Inc. now owns 52,287 shares of the biopharmaceutical company’s stock valued at $1,777,000 after buying an additional 10,569 shares during the period. Strs Ohio purchased a new stake in Acceleron Pharma during the second quarter valued at $570,000. Smith Asset Management Group LP purchased a new stake in Acceleron Pharma during the second quarter valued at $202,000. Deerfield Management Co. raised its stake in Acceleron Pharma by 65.6% in the first quarter. Deerfield Management Co. now owns 353,491 shares of the biopharmaceutical company’s stock valued at $9,329,000 after buying an additional 140,000 shares during the period. Finally, Legal & General Group Plc raised 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 during the period. 75.55% of the stock is currently owned by institutional investors.
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.
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