Acceleron Pharma Inc. (XLRN) Rating Increased to Hold at Zacks Investment Research
Acceleron Pharma Inc. (NASDAQ:XLRN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Acceleron Pharma Inc. is a biopharmaceutical company which focuses on the discovery, development and commercialization of protein therapeutics for cancer and rare diseases. Acceleron Pharma Inc. is based in Cambridge, Massachusetts. “
XLRN has been the subject of several other reports. BTIG Research assumed coverage on shares of Acceleron Pharma in a research report on Friday, August 19th. They issued a “buy” rating and a $46.00 target price for the company. Morgan Stanley reissued a “buy” rating and set a $58.00 price target on shares of Acceleron Pharma in a research report on Friday, August 5th. Credit Suisse Group AG reissued a “buy” rating and set a $42.00 price target on shares of Acceleron Pharma in a research report on Wednesday, September 28th. FBR & Co reissued a “buy” rating and set a $63.00 price target on shares of Acceleron Pharma in a research report on Friday, August 5th. Finally, Citigroup Inc. began coverage on shares of Acceleron Pharma in a research note on Thursday, September 29th. They set a “neutral” rating and a $40.00 price objective for the company. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Acceleron Pharma has a consensus rating of “Buy” and an average target price of $47.11.
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Acceleron Pharma (NASDAQ:XLRN) traded down 2.76% during mid-day trading on Wednesday, hitting $32.80. 40,869 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $34.13 and its 200-day moving average price is $32.70. Acceleron Pharma has a 12 month low of $21.93 and a 12 month high of $50.86. The stock’s market cap is $1.23 billion.
Acceleron Pharma (NASDAQ:XLRN) last released its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.59) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by $0.09. Acceleron Pharma had a negative net margin of 190.41% and a negative return on equity of 30.00%. The business had revenue of $3.20 million for the quarter, compared to the consensus estimate of $3.77 million. The firm’s quarterly revenue was down 43.9% on a year-over-year basis. Equities analysts expect that Acceleron Pharma will post ($1.59) EPS for the current fiscal year.
In other news, SVP John D. Quisel sold 45,952 shares of the company’s stock in a transaction dated Wednesday, September 21st. The shares were 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 $2,930,002.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP John D. Quisel sold 21,438 shares of the company’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $32.14, for a total transaction of $689,017.32. Following the completion of the sale, the senior vice president now directly owns 86,723 shares of the company’s stock, valued at $2,787,277.22. The disclosure for this sale can be found here. Company insiders own 12.20% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in XLRN. BlackRock Fund Advisors raised its stake in Acceleron Pharma by 16.2% in the first quarter. BlackRock Fund Advisors now owns 1,070,110 shares of the biopharmaceutical company’s stock worth $28,240,000 after buying an additional 149,193 shares during the period. BlackRock Inc. raised its stake in Acceleron Pharma by 17.0% in the first quarter. BlackRock Inc. now owns 33,682 shares of the biopharmaceutical company’s stock valued at $889,000 after buying an additional 4,887 shares during the last quarter. Prudential Financial Inc. raised its stake in Acceleron Pharma by 31.3% in the first quarter. Prudential Financial Inc. now owns 90,200 shares of the biopharmaceutical company’s stock valued at $2,380,000 after buying an additional 21,500 shares during the last quarter. Acrospire Investment Management LLC purchased a new stake in Acceleron Pharma during the second quarter valued at approximately $110,000. Finally, Strs Ohio purchased a new stake in Acceleron Pharma during the second quarter valued at approximately $570,000. 75.55% of the stock is owned by institutional investors.
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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