Acceleron Pharma Inc. (XLRN) Receives Average Recommendation of “Buy” from Analysts
Acceleron Pharma Inc. (NASDAQ:XLRN) has been given a consensus rating of “Buy” by the eleven research firms that are currently covering the firm. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $44.50.
Several research firms have commented on XLRN. Zacks Investment Research cut Acceleron Pharma from a “hold” rating to a “sell” rating in a report on Thursday, October 6th. Citigroup Inc. initiated coverage on Acceleron Pharma in a research note on Thursday, September 29th. They issued a “neutral” rating and a $40.00 price objective on the stock. FBR & Co reiterated a “buy” rating on shares of Acceleron Pharma in a research note on Wednesday, September 28th. Credit Suisse Group AG reiterated a “buy” rating and issued a $42.00 price objective on shares of Acceleron Pharma in a research note on Wednesday, September 28th. Finally, BTIG Research initiated coverage on Acceleron Pharma in a research note on Friday, August 19th. They issued a “buy” rating and a $46.00 price objective on the stock.
Acceleron Pharma (NASDAQ:XLRN) traded down 3.74% during mid-day trading on Tuesday, hitting $33.75. The stock had a trading volume of 129,824 shares. Acceleron Pharma has a 1-year low of $21.93 and a 1-year high of $50.86. The firm’s market cap is $1.27 billion. The stock has a 50 day moving average of $34.05 and a 200-day moving average of $32.70.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/11/acceleron-pharma-inc-xlrn-receives-average-recommendation-of-buy-from-analysts.html
Acceleron Pharma (NASDAQ:XLRN) last posted its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.50) by $0.09. The firm earned $3.20 million during the quarter, compared to analyst estimates of $3.77 million. Acceleron Pharma had a negative net margin of 190.41% and a negative return on equity of 30.00%. The firm’s revenue for the quarter was down 43.9% on a year-over-year basis. Analysts predict that Acceleron Pharma will post ($1.59) EPS for the current fiscal year.
In other Acceleron Pharma news, SVP John D. Quisel sold 21,438 shares of the company’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $32.14, for a total transaction of $689,017.32. Following the transaction, the senior vice president now owns 86,723 shares of the company’s stock, valued at approximately $2,787,277.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 transaction, the senior vice president now directly owns 77,004 shares in the company, valued at approximately $2,930,002.20. The disclosure for this sale can be found here. Company insiders own 12.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of XLRN. Acrospire Investment Management LLC purchased a new position in Acceleron Pharma during the second quarter valued at about $110,000. Teacher Retirement System of Texas increased its position 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 worth $130,000 after buying an additional 477 shares during the period. Pacad Investment Ltd. bought a new position in Acceleron Pharma during the second quarter worth $133,000. Legal & General Group Plc increased its position 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 worth $109,000 after buying an additional 1,020 shares during the period. Finally, PNC Financial Services Group Inc. increased its position 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 worth $172,000 after buying an additional 4,935 shares during the period. 75.55% of the stock is currently owned by hedge funds and other 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.
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.