Acceleron Pharma (NASDAQ:XLRN) Upgraded to “Buy” at BidaskClub

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Acceleron Pharma (NASDAQ:XLRN) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Wednesday, BidAskClub reports.

A number of other equities research analysts have also commented on the company. JPMorgan Chase & Co. decreased their price target on Acceleron Pharma from $61.00 to $58.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Cowen restated a “buy” rating on shares of Acceleron Pharma in a research report on Wednesday, November 6th. Piper Jaffray Companies set a $71.00 price target on Acceleron Pharma and gave the stock a “buy” rating in a research report on Monday, October 21st. Oppenheimer set a $58.00 price target on Acceleron Pharma and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Finally, Leerink Swann dropped coverage on Acceleron Pharma in a research report on Tuesday, September 17th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $59.25.

Shares of NASDAQ XLRN traded down $2.02 during trading hours on Wednesday, hitting $40.97. 507,300 shares of the company’s stock were exchanged, compared to its average volume of 293,719. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of -15.82 and a beta of 1.23. Acceleron Pharma has a 1-year low of $37.01 and a 1-year high of $56.91. The company’s 50-day moving average price is $42.07 and its 200-day moving average price is $42.23. The company has a debt-to-equity ratio of 0.05, a current ratio of 14.02 and a quick ratio of 14.02.

Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.86) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.83) by ($0.03). The business had revenue of $4.20 million for the quarter, compared to the consensus estimate of $4.44 million. Acceleron Pharma had a negative return on equity of 30.79% and a negative net margin of 353.57%. The firm’s revenue was up 27.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.63) earnings per share. On average, research analysts expect that Acceleron Pharma will post -2.22 earnings per share for the current year.

In other Acceleron Pharma news, VP Adam M. Veness sold 824 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $45.20, for a total transaction of $37,244.80. Following the transaction, the vice president now owns 16,124 shares of the company’s stock, valued at approximately $728,804.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP John D. Quisel sold 3,584 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $45.23, for a total value of $162,104.32. Following the transaction, the executive vice president now directly owns 59,158 shares in the company, valued at approximately $2,675,716.34. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,422 shares of company stock worth $969,486. Company insiders own 2.50% of the company’s stock.

Several hedge funds have recently bought and sold shares of XLRN. Point72 Asset Management L.P. lifted its stake in shares of Acceleron Pharma by 55.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 775,768 shares of the biopharmaceutical company’s stock valued at $31,869,000 after purchasing an additional 278,068 shares during the period. Sofinnova Investments Inc. acquired a new position in shares of Acceleron Pharma in the 2nd quarter valued at $9,902,000. Nuveen Asset Management LLC acquired a new position in shares of Acceleron Pharma in the 2nd quarter valued at $7,983,000. Candriam Luxembourg S.C.A. lifted its stake in shares of Acceleron Pharma by 58.8% in the 2nd quarter. Candriam Luxembourg S.C.A. now owns 381,948 shares of the biopharmaceutical company’s stock valued at $15,622,000 after purchasing an additional 141,448 shares during the period. Finally, TimesSquare Capital Management LLC lifted its stake in shares of Acceleron Pharma by 14.4% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,048,900 shares of the biopharmaceutical company’s stock valued at $41,442,000 after purchasing an additional 131,930 shares during the period. 90.69% of the stock is currently owned by institutional investors.

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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