Acceleron Pharma Inc. (XLRN) Price Target Increased to $40.00 by Analysts at Piper Jaffray Companies
Acceleron Pharma Inc. (NASDAQ:XLRN) had its target price upped by investment analysts at Piper Jaffray Companies to $40.00 in a note issued to investors on Monday, The Fly reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Piper Jaffray Companies’ price objective would suggest a potential upside of 20.70% from the stock’s current price.
Several other research firms also recently weighed in on XLRN. Oppenheimer Holdings, Inc. set a $40.00 price objective on Acceleron Pharma and gave the company a “buy” rating in a research note on Wednesday, March 1st. FBR & Co reaffirmed a “buy” rating on shares of Acceleron Pharma in a research note on Sunday, March 26th. CIBC downgraded Acceleron Pharma from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 13th. Credit Suisse Group reaffirmed a “buy” rating and issued a $46.00 price objective on shares of Acceleron Pharma in a research note on Thursday, April 6th. Finally, Cann reaffirmed a “hold” rating on shares of Acceleron Pharma in a research note on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. Acceleron Pharma presently has an average rating of “Buy” and an average target price of $42.07.
Shares of Acceleron Pharma (NASDAQ:XLRN) traded down 4.99% during mid-day trading on Monday, hitting $32.40. The stock had a trading volume of 241,273 shares. The company’s market cap is $1.25 billion. Acceleron Pharma has a 52-week low of $23.07 and a 52-week high of $41.69. The stock has a 50 day moving average price of $28.57 and a 200-day moving average price of $27.60.
Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings data 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. Acceleron Pharma had a negative net margin of 659.04% and a negative return on equity of 38.57%. The firm had revenue of $3.71 million during the quarter, compared to analysts’ expectations of $3.38 million. During the same period in the previous year, the business earned $0.13 earnings per share. The business’s revenue for the quarter was down 79.6% on a year-over-year basis. On average, equities analysts expect that Acceleron Pharma will post ($2.54) earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Acceleron Pharma by 4,559.6% in the first quarter. BlackRock Inc. now owns 3,674,593 shares of the biopharmaceutical company’s stock valued at $97,266,000 after buying an additional 3,595,733 shares during the last quarter. Loomis Sayles & Co. L P bought a new position in Acceleron Pharma during the fourth quarter valued at $9,453,000. Norges Bank bought a new position in Acceleron Pharma during the fourth quarter valued at $8,234,000. Eventide Asset Management LLC increased its position in Acceleron Pharma by 52.5% in the first quarter. Eventide Asset Management LLC now owns 653,900 shares of the biopharmaceutical company’s stock valued at $17,309,000 after buying an additional 225,000 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Acceleron Pharma during the first quarter valued at $4,837,000. 83.56% of the stock is owned by institutional investors.
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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