Acceleron Pharma Inc. (XLRN) SVP Sells $1,780,325.12 in Stock
Acceleron Pharma Inc. (NASDAQ:XLRN) 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 transaction of $1,780,325.12. Following the completion of the sale, the senior vice president now owns 91,875 shares of the company’s stock, valued at $3,116,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Acceleron Pharma Inc. (NASDAQ:XLRN) opened at 33.73 on Wednesday. The company’s 50-day moving average is $34.13 and its 200 day moving average is $32.70. Acceleron Pharma Inc. has a 12 month low of $21.93 and a 12 month high of $50.86. The company’s market capitalization is $1.27 billion.
Acceleron Pharma (NASDAQ:XLRN) last released its quarterly 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. The firm had revenue of $3.20 million for the quarter, compared to analysts’ expectations of $3.77 million. Acceleron Pharma had a negative net margin of 190.41% and a negative return on equity of 30.00%. Acceleron Pharma’s revenue for the quarter was down 43.9% compared to the same quarter last year. On average, equities research analysts anticipate that Acceleron Pharma Inc. will post ($1.59) earnings per share for the current year.
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A number of analysts have recently commented on the stock. Credit Suisse Group AG reiterated a “buy” rating on shares of Acceleron Pharma in a research note on Sunday, July 10th. Zacks Investment Research lowered shares of Acceleron Pharma from a “hold” rating to a “sell” rating in a research report on Thursday, October 6th. FBR & Co restated a “buy” rating on shares of Acceleron Pharma in a research report on Wednesday, September 28th. Morgan Stanley restated an “overweight” rating on shares of Acceleron Pharma in a research report on Wednesday, June 29th. Finally, BTIG Research assumed coverage on shares of Acceleron Pharma in a research report on Friday, August 19th. They set a “buy” rating and a $46.00 target price for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $47.11.
Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Acceleron Pharma by 12.4% in the second quarter. Vanguard Group Inc. now owns 1,646,234 shares of the biopharmaceutical company’s stock valued at $55,939,000 after buying an additional 181,375 shares during the last quarter. BlackRock Fund Advisors raised its stake in Acceleron Pharma by 5.4% in the second quarter. BlackRock Fund Advisors now owns 1,128,078 shares of the biopharmaceutical company’s stock valued at $38,332,000 after buying an additional 57,968 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Acceleron Pharma by 0.7% in the second quarter. JPMorgan Chase & Co. now owns 799,699 shares of the biopharmaceutical company’s stock valued at $27,173,000 after buying an additional 5,865 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Acceleron Pharma by 13.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 730,806 shares of the biopharmaceutical company’s stock valued at $24,833,000 after buying an additional 84,161 shares during the last quarter. Finally, Pictet Asset Management Ltd. raised its stake in Acceleron Pharma by 744.9% in the second quarter. Pictet Asset Management Ltd. now owns 727,427 shares of the biopharmaceutical company’s stock valued at $24,885,000 after buying an additional 641,327 shares during the last quarter. 75.55% of the stock is owned by institutional investors and hedge funds.
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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