Zacks: Analysts Anticipate Acceleron Pharma Inc. (XLRN) Will Announce Quarterly Sales of $3.52 Million
Equities analysts predict that Acceleron Pharma Inc. (NASDAQ:XLRN) will announce $3.52 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Acceleron Pharma’s earnings, with estimates ranging from $3.00 million to $3.95 million. Acceleron Pharma posted sales of $3.20 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 10%. The firm is expected to report its next quarterly earnings report on Thursday, August 3rd.
On average, analysts expect that Acceleron Pharma will report full year sales of $3.52 million for the current financial year, with estimates ranging from $12.71 million to $16.32 million. For the next year, analysts expect that the business will report sales of $41.05 million per share, with estimates ranging from $13.10 million to $99.12 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Acceleron Pharma.
Acceleron Pharma (NASDAQ:XLRN) last issued its quarterly earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.66) EPS 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 net margin of 659.04% and a negative return on equity of 38.57%. The business’s revenue for the quarter was down 79.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.13 earnings per share.
XLRN has been the topic of several research reports. Oppenheimer Holdings, Inc. set a $40.00 price target on shares of Acceleron Pharma and gave the stock a “buy” rating in a research note on Wednesday, March 1st. FBR & Co reissued a “buy” rating on shares of Acceleron Pharma in a research note on Sunday, March 26th. Piper Jaffray Companies raised their price target on shares of Acceleron Pharma from $32.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday. CIBC downgraded shares of Acceleron Pharma from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 13th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $46.00 price target on shares of Acceleron Pharma in a research note on Thursday, April 6th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $42.07.
Institutional investors have recently modified their holdings of the company. Candriam Luxembourg S.C.A. increased its position in shares of Acceleron Pharma by 20.5% in the first quarter. Candriam Luxembourg S.C.A. now owns 182,000 shares of the biopharmaceutical company’s stock worth $4,818,000 after buying an additional 31,000 shares during the period. Fox Run Management L.L.C. purchased a new position in shares of Acceleron Pharma during the first quarter worth approximately $500,000. Bank of Montreal Can purchased a new position in shares of Acceleron Pharma during the first quarter worth approximately $237,000. Highbridge Capital Management LLC purchased a new position in shares of Acceleron Pharma during the fourth quarter worth approximately $462,000. Finally, Teachers Advisors LLC increased its position in shares of Acceleron Pharma by 3.0% in the fourth quarter. Teachers Advisors LLC now owns 45,138 shares of the biopharmaceutical company’s stock worth $1,152,000 after buying an additional 1,296 shares during the period. 83.56% of the stock is currently owned by institutional investors.
Acceleron Pharma (XLRN) opened at 29.64 on Wednesday. Acceleron Pharma has a one year low of $23.07 and a one year high of $41.69. The company’s 50-day moving average is $28.57 and its 200 day moving average is $27.60. The company’s market capitalization is $1.14 billion.
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Acceleron Pharma Company Profile
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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