Acceleron Pharma Inc. (XLRN) Given “Hold” Rating at Cann
Acceleron Pharma Inc. (NASDAQ:XLRN)‘s stock had its “hold” rating reiterated by equities researchers at Cann in a report issued on Friday.
The analysts wrote, “Acceleron Pharma announced today that updated preliminary results from phase II studies of Luspatercept in beta-thalassemia were released at the 22nd Congress of the European Hematology Association. It was reported that results from this ongoing study demonstrate increases in hemoglobin and decreases in red blood cell transfusion burden sustained for up to 24 months, with patients still active on treatment. These data presented today are very encouraging and appear to be as good as or better than data previously presented for Luspatercept.””
Several other research firms also recently weighed in on XLRN. JMP Securities reiterated an “outperform” rating and set a $39.00 price target on shares of Acceleron Pharma in a research note on Monday, May 1st. BidaskClub raised Acceleron Pharma from a “hold” rating to a “buy” rating in a report on Wednesday. Goldman Sachs Group, Inc. (The) initiated coverage on Acceleron Pharma in a report on Wednesday, May 17th. They set a “sell” rating and a $20.00 price objective on the stock. FBR & Co set a $63.00 price objective on Acceleron Pharma and gave the stock a “buy” rating in a report on Thursday, March 2nd. Finally, J P Morgan Chase & Co initiated coverage on Acceleron Pharma in a report on Tuesday, March 14th. They set a “neutral” rating and a $33.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $42.23.
Shares of Acceleron Pharma (XLRN) traded down 2.15% during midday trading on Friday, reaching $33.22. The company’s stock had a trading volume of 101,650 shares. Acceleron Pharma has a one year low of $23.07 and a one year high of $41.69. The stock’s market cap is $1.28 billion. The firm has a 50-day moving average of $28.57 and a 200-day moving average of $27.60.
Acceleron Pharma (NASDAQ:XLRN) last posted its quarterly earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.58) by $0.08. The firm had revenue of $3.71 million for the quarter, compared to the consensus estimate of $3.38 million. Acceleron Pharma had a negative return on equity of 38.57% and a negative net margin of 659.04%. The firm’s revenue was down 79.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS. On average, analysts forecast that Acceleron Pharma will post ($2.54) EPS for the current year.
Several institutional investors have recently made changes to their positions in XLRN. Russell Investments Group Ltd. purchased a new position in shares of 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 about $800,000. Bessemer Group Inc. raised 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 last quarter. State Street Corp raised 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 last quarter. Finally, A.R.T. Advisors LLC bought a new position in Acceleron Pharma during the fourth quarter valued at about $487,000. Hedge funds and other institutional investors own 83.56% of the company’s stock.
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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