Acceleron Pharma Inc. (XLRN) Earns “Outperform” Rating from Leerink Swann
Acceleron Pharma Inc. (NASDAQ:XLRN)‘s stock had its “outperform” rating reiterated by equities research analysts at Leerink Swann in a note issued to investors on Friday.
Several other brokerages have also issued reports on XLRN. Credit Suisse Group AG reaffirmed a “buy” rating and set a $42.00 price objective on shares of Acceleron Pharma in a report on Wednesday, September 28th. FBR & Co reaffirmed a “buy” rating on shares of Acceleron Pharma in a report on Wednesday, September 28th. Citigroup Inc. assumed coverage on Acceleron Pharma in a report on Thursday, September 29th. They set a “neutral” rating and a $40.00 price objective on the stock. Zacks Investment Research lowered Acceleron Pharma from a “hold” rating to a “sell” rating in a report on Thursday, October 6th. Finally, Barclays PLC raised their price objective on Acceleron Pharma from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Monday, June 13th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $47.11.
Shares of Acceleron Pharma (NASDAQ:XLRN) traded down 4.21% during trading on Friday, hitting $32.31. The company had a trading volume of 57,705 shares. The stock’s 50-day moving average is $34.13 and its 200 day moving average is $32.70. The firm’s market capitalization is $1.21 billion. Acceleron Pharma has a 52-week low of $21.93 and a 52-week high of $50.86.
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Acceleron Pharma (NASDAQ:XLRN) last issued its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by $0.09. The firm had revenue of $3.20 million for the quarter, compared to analysts’ expectations of $3.77 million. Acceleron Pharma had a negative return on equity of 30.00% and a negative net margin of 190.41%. The firm’s revenue for the quarter was down 43.9% compared to the same quarter last year. Equities research analysts predict that Acceleron Pharma will post ($1.59) earnings per share for the current fiscal year.
In other news, SVP John D. Quisel sold 45,952 shares of Acceleron Pharma stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $38.05, for a total transaction of $1,748,473.60. Following the completion of the sale, the senior vice president now directly owns 77,004 shares in the company, valued at approximately $2,930,002.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP John D. Quisel sold 21,438 shares of Acceleron Pharma stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $32.14, for a total transaction of $689,017.32. Following the sale, the senior vice president now owns 86,723 shares of the company’s stock, valued at $2,787,277.22. The disclosure for this sale can be found here. 12.20% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. increased its stake in Acceleron Pharma by 5.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 112,057 shares of the biopharmaceutical company’s stock worth $3,808,000 after buying an additional 5,634 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Acceleron Pharma by 4.3% in the second quarter. Legal & General Group Plc now owns 4,214 shares of the biopharmaceutical company’s stock worth $145,000 after buying an additional 173 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in shares of Acceleron Pharma by 10.1% in the second quarter. Metropolitan Life Insurance Co. NY now owns 20,217 shares of the biopharmaceutical company’s stock worth $687,000 after buying an additional 1,850 shares during the period. Parametric Portfolio Associates LLC boosted its position in shares of Acceleron Pharma by 1.0% in the second quarter. Parametric Portfolio Associates LLC now owns 8,797 shares of the biopharmaceutical company’s stock worth $299,000 after buying an additional 90 shares during the period. Finally, Pictet Asset Management Ltd. boosted its position in shares of Acceleron Pharma by 744.9% in the second quarter. Pictet Asset Management Ltd. now owns 727,427 shares of the biopharmaceutical company’s stock worth $24,885,000 after buying an additional 641,327 shares during the period. Institutional investors own 75.55% of the company’s stock.
About Acceleron Pharma
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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