Zacks Investment Research Upgrades Acceleron Pharma Inc. (XLRN) to “Hold”
Acceleron Pharma Inc. (NASDAQ:XLRN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a 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. “
A number of other brokerages have also recently commented on XLRN. Citigroup Inc. initiated coverage on Acceleron Pharma in a research report on Thursday, September 29th. They set a “neutral” rating and a $40.00 price target for the company. 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 on shares of Acceleron Pharma in a research note on Sunday, July 10th. Morgan Stanley reiterated an “overweight” rating on shares of Acceleron Pharma in a research note on Wednesday, June 29th. Finally, BTIG Research initiated coverage on Acceleron Pharma in a research note on Friday, August 19th. They set a “buy” rating and a $46.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $47.11.
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Shares of Acceleron Pharma (NASDAQ:XLRN) traded down 0.74% during mid-day trading on Wednesday, hitting $33.48. The stock had a trading volume of 17,765 shares. Acceleron Pharma has a 12 month low of $21.93 and a 12 month high of $50.86. The stock’s 50-day moving average is $34.13 and its 200 day moving average is $32.70. The company’s market cap is $1.26 billion.
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 firm had revenue of $3.20 million for the quarter, compared to analyst estimates of $3.77 million. The firm’s quarterly revenue was down 43.9% on a year-over-year basis. On average, equities research analysts forecast that Acceleron Pharma will post ($1.59) earnings per share for the current fiscal year.
In related news, SVP John D. Quisel sold 21,438 shares of Acceleron Pharma stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $32.14, for a total value of $689,017.32. Following the sale, the senior vice president now directly owns 86,723 shares in the company, valued at approximately $2,787,277.22. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP John D. Quisel sold 45,952 shares of Acceleron Pharma stock in a transaction dated 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 completion of the sale, the senior vice president now owns 77,004 shares in the company, valued at $2,930,002.20. The disclosure for this sale can be found here. 12.20% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted 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 boosted 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. boosted 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. boosted 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. boosted 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. 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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