Acceleron Pharma Inc. (XLRN) Upgraded to Buy by Zacks Investment Research
Acceleron Pharma Inc. (NASDAQ:XLRN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The firm currently has a $37.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 17.80% from the company’s current price.
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 analysts also recently weighed in on XLRN. BidaskClub raised shares of Acceleron Pharma from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Credit Suisse Group reaffirmed a “buy” rating and set a $46.00 price target on shares of Acceleron Pharma in a research note on Tuesday, July 4th. FBR & Co reaffirmed a “buy” rating on shares of Acceleron Pharma in a research note on Saturday, April 8th. Cann reaffirmed a “hold” rating on shares of Acceleron Pharma in a research note on Tuesday, June 13th. Finally, Instinet reaffirmed a “buy” rating and set a $58.00 price target on shares of Acceleron Pharma in a research note on Wednesday, June 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Acceleron Pharma presently has an average rating of “Buy” and a consensus target price of $42.14.
Acceleron Pharma (NASDAQ XLRN) traded down 1.3039% on Thursday, hitting $31.0103. The company’s stock had a trading volume of 99,067 shares. The firm has a 50 day moving average of $28.88 and a 200 day moving average of $27.66. The firm’s market cap is $1.20 billion. Acceleron Pharma has a 12 month low of $23.07 and a 12 month high of $41.69.
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 Thomson Reuters’ 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 company had revenue of $3.71 million for the quarter, compared to the consensus estimate of $3.38 million. During the same period in the prior year, the firm posted $0.13 EPS. The business’s revenue was down 79.6% on a year-over-year basis. Equities research analysts forecast that Acceleron Pharma will post ($2.54) earnings per share for the current fiscal year.
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In other Acceleron Pharma news, SVP Ravindra Kumar sold 937 shares of Acceleron Pharma stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $32.00, for a total value of $29,984.00. Following the transaction, the senior vice president now directly owns 96,264 shares of the company’s stock, valued at $3,080,448. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin F. Mclaughlin sold 34,400 shares of Acceleron Pharma stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $32.00, for a total transaction of $1,100,800.00. Following the completion of the transaction, the chief financial officer now directly owns 80,950 shares in the company, valued at $2,590,400. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,337 shares of company stock worth $1,642,784. 3.90% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its position in Acceleron Pharma by 106.1% in the first quarter. Wells Fargo & Company MN now owns 79,462 shares of the biopharmaceutical company’s stock valued at $2,104,000 after buying an additional 40,910 shares in the last quarter. Russell Investments Group Ltd. raised its position in Acceleron Pharma by 88.9% in the first quarter. Russell Investments Group Ltd. now owns 27,850 shares of the biopharmaceutical company’s stock valued at $737,000 after buying an additional 13,108 shares in the last quarter. Nationwide Fund Advisors raised its position in Acceleron Pharma by 10.5% in the first quarter. Nationwide Fund Advisors now owns 22,737 shares of the biopharmaceutical company’s stock valued at $602,000 after buying an additional 2,168 shares in the last quarter. Candriam Luxembourg S.C.A. raised its position in 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 valued at $4,818,000 after buying an additional 31,000 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in Acceleron Pharma during the first quarter valued at about $500,000. 83.56% of the stock is currently owned by institutional investors and hedge funds.
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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