Zacks: Brokerages Anticipate Acceleron Pharma Inc. (NASDAQ:XLRN) to Announce -$0.66 Earnings Per Share
Brokerages expect that Acceleron Pharma Inc. (NASDAQ:XLRN) will announce earnings of ($0.66) per share for the current quarter, Zacks reports. Five analysts have made estimates for Acceleron Pharma’s earnings, with the lowest EPS estimate coming in at ($0.69) and the highest estimate coming in at ($0.59). Acceleron Pharma posted earnings of ($0.59) per share in the same quarter last year, which suggests a negative year over year growth rate of 11.9%. The business is scheduled to report its next quarterly earnings results on Thursday, August 3rd.
According to Zacks, analysts expect that Acceleron Pharma will report full-year earnings of ($2.65) per share for the current fiscal year, with EPS estimates ranging from ($2.82) to ($2.36). For the next fiscal year, analysts forecast that the business will report earnings of ($2.52) per share, with EPS estimates ranging from ($3.06) to ($1.96). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Acceleron Pharma.
Acceleron Pharma (NASDAQ:XLRN) last announced its quarterly 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. Acceleron Pharma had a negative return on equity of 38.57% and a negative net margin of 659.04%. The business had revenue of $3.71 million for the quarter, compared to analysts’ expectations of $3.38 million. During the same period last year, the company posted $0.13 earnings per share. The firm’s revenue for the quarter was down 79.6% on a year-over-year basis.
A number of research analysts have recently weighed in on XLRN shares. FBR & Co restated a “buy” rating on shares of Acceleron Pharma in a report on Sunday, March 26th. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Acceleron Pharma in a report on Tuesday, June 13th. Piper Jaffray Companies lifted their target price on shares of Acceleron Pharma from $32.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, June 26th. CIBC downgraded shares of Acceleron Pharma from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 13th. Finally, Zacks Investment Research upgraded shares of Acceleron Pharma from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $41.73.
In other Acceleron Pharma news, SVP Ravindra Kumar sold 937 shares of the firm’s 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 sale, the senior vice president now directly owns 96,264 shares in the company, valued at approximately $3,080,448. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin F. Mclaughlin sold 34,400 shares of the firm’s 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 sale, the chief financial officer now owns 80,950 shares in the company, valued at $2,590,400. The disclosure for this sale can be found here. Insiders sold a total of 51,337 shares of company stock worth $1,642,784 over the last 90 days. Company insiders own 3.90% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of 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 period. Norges Bank acquired a new stake in shares of Acceleron Pharma during the fourth quarter valued at $8,234,000. Eventide Asset Management LLC raised its stake in shares of 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 period. Point72 Asset Management L.P. acquired a new stake in shares of Acceleron Pharma during the first quarter valued at $4,837,000. Finally, Vanguard Group Inc. raised its stake in shares of Acceleron Pharma by 9.1% in the first quarter. Vanguard Group Inc. now owns 1,912,335 shares of the biopharmaceutical company’s stock valued at $50,619,000 after buying an additional 158,714 shares during the period. Institutional investors and hedge funds own 83.54% of the company’s stock.
Shares of Acceleron Pharma (NASDAQ XLRN) opened at 31.00 on Friday. Acceleron Pharma has a 12 month low of $23.07 and a 12 month high of $41.69. The company’s 50-day moving average is $30.73 and its 200-day moving average is $28.06. The stock’s market capitalization is $1.20 billion.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Acceleron Pharma Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acceleron Pharma Inc. and related companies with MarketBeat.com's FREE daily email newsletter.