Acceleron Pharma Inc. (XLRN) Stock Rating Lowered by Zacks Investment Research
Acceleron Pharma Inc. (NASDAQ:XLRN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued 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. “
Several other equities analysts have also recently issued reports on XLRN. Oppenheimer Holdings, Inc. began coverage on shares of Acceleron Pharma in a research note on Sunday, December 25th. They issued a “buy” rating and a $44.00 price objective on the stock. Leerink Swann set a $50.00 price objective on shares of Acceleron Pharma and gave the stock a “buy” rating in a research note on Thursday, December 1st. Cann began coverage on shares of Acceleron Pharma in a research note on Monday, December 12th. They issued an “outperform” rating and a $44.00 price objective on the stock. Credit Suisse Group reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Acceleron Pharma in a research note on Wednesday, September 28th. Finally, Citigroup Inc. began coverage on shares of Acceleron Pharma in a report on Thursday, September 29th. They issued a “neutral” rating and a $40.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company’s stock. Acceleron Pharma currently has an average rating of “Buy” and an average price target of $45.82.
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Shares of Acceleron Pharma (NASDAQ:XLRN) traded down 3.56% during trading on Wednesday, reaching $25.76. 369,579 shares of the company traded hands. The firm’s market capitalization is $972.34 million. The firm has a 50-day moving average price of $30.96 and a 200-day moving average price of $32.32. Acceleron Pharma has a 12 month low of $22.67 and a 12 month high of $41.69.
Acceleron Pharma (NASDAQ:XLRN) last announced its quarterly earnings data on Thursday, November 3rd. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.53) by $0.02. The business earned $3 million during the quarter, compared to analyst estimates of $4.08 million. Acceleron Pharma had a negative return on equity of 30.75% and a negative net margin of 229.77%. Equities research analysts anticipate that Acceleron Pharma will post ($1.59) EPS for the current year.
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In related news, Director Terrance Mcguire sold 34,928 shares of the firm’s stock in a transaction that occurred on Thursday, December 8th. The shares were sold at an average price of $30.96, for a total transaction of $1,081,370.88. Following the completion of the sale, the director now directly owns 1,624 shares in the company, valued at $50,279.04. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jean George sold 453,505 shares of the firm’s stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $38.39, for a total transaction of $17,410,056.95. The disclosure for this sale can be found here. Corporate insiders own 12.20% of the company’s stock.
Several hedge funds have recently bought and sold shares of XLRN. Legal & General Group Plc boosted its stake in Acceleron Pharma by 33.8% in the first quarter. Legal & General Group Plc now owns 4,041 shares of the biopharmaceutical company’s stock worth $109,000 after buying an additional 1,020 shares during the period. Acrospire Investment Management LLC acquired a new stake in Acceleron Pharma during the second quarter worth about $110,000. Teacher Retirement System of Texas boosted its stake in Acceleron Pharma by 14.3% in the second quarter. Teacher Retirement System of Texas now owns 3,817 shares of the biopharmaceutical company’s stock worth $130,000 after buying an additional 477 shares during the period. Pacad Investment Ltd. acquired a new stake in Acceleron Pharma during the second quarter worth about $133,000. Finally, PNC Financial Services Group Inc. boosted its stake in Acceleron Pharma by 4,112.5% in the second quarter. PNC Financial Services Group Inc. now owns 5,055 shares of the biopharmaceutical company’s stock worth $172,000 after buying an additional 4,935 shares during the period. Institutional investors and hedge funds own 82.07% of the company’s stock.
Acceleron Pharma Company Profile
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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