Acceleron Pharma Inc. (XLRN) Receives “Outperform” Rating from Leerink Swann
Acceleron Pharma Inc. (NASDAQ:XLRN)‘s stock had its “outperform” rating reiterated by investment analysts at Leerink Swann in a research note issued on Friday.
XLRN has been the topic of a number of other research reports. BTIG Research assumed coverage on Acceleron Pharma in a research report on Friday, August 19th. They issued a “buy” rating and a $46.00 price target on the stock. Piper Jaffray Cos. restated a “buy” rating on shares of Acceleron Pharma in a research report on Friday, June 10th. Morgan Stanley restated a “buy” rating and issued a $58.00 price target on shares of Acceleron Pharma in a research report on Friday, August 5th. Credit Suisse Group AG reiterated a “buy” rating and issued a $42.00 target price on shares of Acceleron Pharma in a research report on Wednesday, September 28th. Finally, FBR & Co reiterated a “buy” rating and issued a $63.00 target price on shares of Acceleron Pharma in a research report on Friday, August 5th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Acceleron Pharma has a consensus rating of “Buy” and an average price target of $47.11.
Shares of Acceleron Pharma (NASDAQ:XLRN) traded down 3.65% during midday trading on Friday, reaching $32.50. 56,593 shares of the company’s stock traded hands. The stock has a 50 day moving average of $34.13 and a 200-day moving average of $32.70. The stock’s market cap is $1.22 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 results on Thursday, August 4th. The biopharmaceutical company reported ($0.59) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.50) by $0.09. Acceleron Pharma had a negative return on equity of 30.00% and a negative net margin of 190.41%. The company earned $3.20 million during the quarter, compared to the consensus estimate of $3.77 million. The business’s quarterly revenue was down 43.9% compared to the same quarter last year. On average, equities research analysts expect that Acceleron Pharma will post ($1.59) EPS for the current year.
In related news, Director Jean George sold 857,145 shares of Acceleron Pharma stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $35.50, for a total value of $30,428,647.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Ravindra Kumar sold 52,486 shares of Acceleron Pharma stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $33.92, for a total value of $1,780,325.12. Following the completion of the transaction, the senior vice president now directly owns 91,875 shares in the company, valued at $3,116,400. The disclosure for this sale can be found here. Insiders own 12.20% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. BlackRock Fund Advisors raised its position 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 in the last quarter. BlackRock Inc. raised its position in Acceleron Pharma by 17.0% in the first quarter. BlackRock Inc. now owns 33,682 shares of the biopharmaceutical company’s stock worth $889,000 after buying an additional 4,887 shares in the last quarter. Prudential Financial Inc. raised its position in Acceleron Pharma by 31.3% in the first quarter. Prudential Financial Inc. now owns 90,200 shares of the biopharmaceutical company’s stock worth $2,380,000 after buying an additional 21,500 shares in the last quarter. Acrospire Investment Management LLC bought a new position in Acceleron Pharma during the second quarter worth approximately $110,000. Finally, Strs Ohio bought a new position in Acceleron Pharma during the second quarter worth approximately $570,000. 75.55% of the stock is currently 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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