Credit Suisse Group Reaffirms Outperform Rating for Acceleron Pharma (XLRN)

Acceleron Pharma (NASDAQ:XLRN)‘s stock had its “outperform” rating reiterated by research analysts at Credit Suisse Group in a research report issued on Thursday. They presently have a $55.00 price objective on the biopharmaceutical company’s stock. Credit Suisse Group’s price target would suggest a potential upside of 27.79% from the stock’s current price.

Several other equities analysts also recently weighed in on XLRN. Oppenheimer restated a “hold” rating on shares of Acceleron Pharma in a research report on Monday, January 8th. BidaskClub upgraded Acceleron Pharma from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Cann restated a “hold” rating on shares of Acceleron Pharma in a research report on Monday, January 8th. ValuEngine downgraded Acceleron Pharma from a “hold” rating to a “sell” rating in a research report on Friday, October 6th. Finally, HC Wainwright raised their target price on Acceleron Pharma from $57.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $44.81.

Acceleron Pharma (NASDAQ XLRN) traded up $0.69 during midday trading on Thursday, hitting $43.04. The stock had a trading volume of 197,438 shares, compared to its average volume of 275,733. The stock has a market capitalization of $1,915.70, a P/E ratio of -16.62 and a beta of 1.59. Acceleron Pharma has a 1-year low of $23.07 and a 1-year high of $46.93.

Acceleron Pharma (NASDAQ:XLRN) last released its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, beating the consensus estimate of ($0.67) by $0.02. The business had revenue of $3.00 million for the quarter, compared to the consensus estimate of $3.52 million. Acceleron Pharma had a negative return on equity of 40.70% and a negative net margin of 759.34%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.55) earnings per share. research analysts forecast that Acceleron Pharma will post -2.65 earnings per share for the current fiscal year.

In related news, CFO Kevin F. Mclaughlin sold 19,000 shares of Acceleron Pharma stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $42.89, for a total transaction of $814,910.00. Following the transaction, the chief financial officer now owns 45,300 shares in the company, valued at $1,942,917. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Christopher Rovaldi sold 11,000 shares of Acceleron Pharma stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $45.00, for a total value of $495,000.00. Following the transaction, the senior vice president now owns 35,701 shares in the company, valued at approximately $1,606,545. The disclosure for this sale can be found here. In the last quarter, insiders have sold 146,021 shares of company stock worth $5,529,598. 3.90% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of XLRN. Quantbot Technologies LP increased its stake in Acceleron Pharma by 416.3% during the third quarter. Quantbot Technologies LP now owns 2,917 shares of the biopharmaceutical company’s stock worth $108,000 after acquiring an additional 2,352 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Acceleron Pharma by 969.9% during the second quarter. BNP Paribas Arbitrage SA now owns 3,627 shares of the biopharmaceutical company’s stock worth $110,000 after acquiring an additional 3,288 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in Acceleron Pharma during the third quarter worth $225,000. PNC Financial Services Group Inc. increased its stake in Acceleron Pharma by 57.8% during the second quarter. PNC Financial Services Group Inc. now owns 8,460 shares of the biopharmaceutical company’s stock worth $258,000 after acquiring an additional 3,100 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in Acceleron Pharma during the third quarter worth $266,000. 85.70% of the stock is owned by institutional investors.

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About Acceleron Pharma

Acceleron Pharma Inc is a clinical-stage biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapeutics to treat serious and rare diseases. Its research focuses on key natural regulators of cellular growth and repair, particularly the Transforming Growth Factor-Beta (TGF-beta), protein superfamily.

Analyst Recommendations for Acceleron Pharma (NASDAQ:XLRN)

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