Acceleron Pharma Inc. (XLRN) Price Target Raised to $44.00 at Citigroup Inc.
Acceleron Pharma Inc. (NASDAQ:XLRN) had its price objective upped by equities researchers at Citigroup Inc. to $44.00 in a report released on Friday, The Fly reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Citigroup Inc.’s price target indicates a potential upside of 23.28% from the company’s current price.
A number of other equities research analysts have also recently issued reports on XLRN. Credit Suisse Group restated a “buy” rating and set a $46.00 price target on shares of Acceleron Pharma in a report on Thursday, April 6th. FBR & Co restated a “buy” rating on shares of Acceleron Pharma in a report on Saturday, April 8th. JMP Securities restated an “outperform” rating and set a $39.00 price target on shares of Acceleron Pharma in a report on Monday, May 1st. Zacks Investment Research cut shares of Acceleron Pharma from a “hold” rating to a “sell” rating in a report on Thursday, May 11th. Finally, Goldman Sachs Group Inc initiated coverage on shares of Acceleron Pharma in a report on Wednesday, May 17th. They set a “sell” rating and a $20.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $41.53.
Acceleron Pharma (NASDAQ XLRN) traded up 7.44% during mid-day trading on Friday, reaching $35.69. The company’s stock had a trading volume of 515,677 shares. The stock’s market cap is $1.38 billion. Acceleron Pharma has a 12-month low of $23.07 and a 12-month high of $41.69. The firm’s 50 day moving average price is $31.52 and its 200 day moving average price is $28.41.
Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.65) by $0.12. Acceleron Pharma had a negative net margin of 724.22% and a negative return on equity of 43.02%. The firm had revenue of $3.10 million for the quarter, compared to the consensus estimate of $3.69 million. During the same quarter last year, the company earned ($0.59) earnings per share. The firm’s revenue was down 3.1% on a year-over-year basis. On average, equities analysts predict that Acceleron Pharma will post ($2.51) earnings per share for the current year.
In related news, EVP Matthew L. Sherman sold 16,000 shares of the stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $32.00, for a total value of $512,000.00. Following the completion of the sale, the executive vice president now owns 112,400 shares in the company, valued at $3,596,800. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Ravindra Kumar sold 937 shares of the stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $32.00, for a total transaction of $29,984.00. Following the completion of the sale, the senior vice president now owns 96,264 shares of the company’s stock, valued at approximately $3,080,448. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,337 shares of company stock valued at $1,642,784. 3.90% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised its position in Acceleron Pharma by 969.9% in the second quarter. BNP Paribas Arbitrage SA now owns 3,627 shares of the biopharmaceutical company’s stock valued at $110,000 after buying an additional 3,288 shares during the period. NJ State Employees Deferred Compensation Plan acquired a new position in Acceleron Pharma during the second quarter valued at about $213,000. Bank of Montreal Can acquired a new position in Acceleron Pharma during the first quarter valued at about $237,000. Parametric Portfolio Associates LLC acquired a new position in Acceleron Pharma during the first quarter valued at about $241,000. Finally, Tudor Investment Corp ET AL raised its position in Acceleron Pharma by 8.5% in the first quarter. Tudor Investment Corp ET AL now owns 9,105 shares of the biopharmaceutical company’s stock valued at $241,000 after buying an additional 716 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.
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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