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Shares of Acceleron Pharma (NASDAQ:XLRN) fell 1.7% during trading on Monday following insider selling activity, American Banking and Market News reports. The stock traded as low as $29.09 and last traded at $29.30, with a volume of 103,351 shares traded. The stock had previously closed at $29.81.

Specifically, CEO John L. Knopf unloaded 17,500 shares of the stock on the open market in a transaction dated Thursday, August 14th. The shares were sold at an average price of $29.78, for a total value of $521,150.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

A number of research firms have recently commented on XLRN. Analysts at Leerink Swann initiated coverage on shares of Acceleron Pharma in a research note on Thursday. They set an “outperform” rating and a $57.00 price target on the stock. Analysts at FBR Capital Markets initiated coverage on shares of Acceleron Pharma in a research note on Wednesday, August 13th. They set an “outperform” rating and a $47.00 price target on the stock. Four investment analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average target price of $51.00.

The stock has a 50-day moving average of $29.63 and a 200-day moving average of $35.97. The company’s market cap is $929.7 million.

Acceleron Pharma (NASDAQ:XLRN) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.01. Analysts expect that Acceleron Pharma will post $-1.44 EPS for the current fiscal year.

Acceleron Pharma Inc is a clinical stage biopharmaceutical company focused on the discovery, development and commercialization of protein therapeutics for cancer and rare diseases.

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