Acceleron Pharma Inc. (XLRN) Receives “Buy” Rating from Instinet
Acceleron Pharma Inc. (NASDAQ:XLRN)‘s stock had its “buy” rating restated by investment analysts at Instinet in a report issued on Wednesday. They presently have a $58.00 target price on the biopharmaceutical company’s stock. Instinet’s target price indicates a potential upside of 95.68% from the stock’s previous close.
XLRN has been the subject of a number of other reports. JMP Securities reiterated an “outperform” rating and set a $39.00 target price on shares of Acceleron Pharma in a research note on Monday, May 1st. Citigroup Inc. upgraded shares of Acceleron Pharma from a “neutral” rating to a “buy” rating and decreased their target price for the company from $40.00 to $36.00 in a research note on Thursday, March 2nd. Oppenheimer Holdings, Inc. set a $40.00 target price on shares of Acceleron Pharma and gave the company a “buy” rating in a research note on Thursday, June 1st. Cann restated an “outperform” rating on shares of Acceleron Pharma in a research note on Wednesday, March 1st. Finally, FBR & Co restated a “buy” rating on shares of Acceleron Pharma in a research note on Thursday, May 18th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. Acceleron Pharma currently has a consensus rating of “Hold” and a consensus price target of $42.23.
Acceleron Pharma (NASDAQ:XLRN) last announced its earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by $0.08. The company had revenue of $3.71 million for the quarter, compared to analysts’ expectations of $3.38 million. Acceleron Pharma had a negative net margin of 659.04% and a negative return on equity of 38.57%. Acceleron Pharma’s quarterly revenue was down 79.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.13 earnings per share.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new position in Acceleron Pharma during the fourth quarter valued at approximately $378,000. Aberdeen Asset Management PLC UK bought a new position in Acceleron Pharma during the fourth quarter valued at approximately $800,000. Bessemer Group Inc. increased its position in Acceleron Pharma by 3,999.1% in the fourth quarter. Bessemer Group Inc. now owns 4,755 shares of the biopharmaceutical company’s stock valued at $122,000 after buying an additional 4,639 shares during the period. State Street Corp increased its position in Acceleron Pharma by 6.3% in the fourth quarter. State Street Corp now owns 943,174 shares of the biopharmaceutical company’s stock valued at $24,071,000 after buying an additional 56,219 shares during the period. Finally, Brown Advisory Inc. increased its position in Acceleron Pharma by 9.4% in the fourth quarter. Brown Advisory Inc. now owns 354,237 shares of the biopharmaceutical company’s stock valued at $9,039,000 after buying an additional 30,465 shares during the period. 83.56% of the stock is owned by institutional investors and hedge funds.
About Acceleron Pharma
Acceleron Pharma Inc is a clinical-stage biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapeutics to treat serious and rare diseases. Its research focuses on key natural regulators of cellular growth and repair, particularly the Transforming Growth Factor-Beta (TGF-beta), protein superfamily.
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