Brokerages Expect Acceleron Pharma Inc. (NASDAQ:XLRN) Will Post Quarterly Sales of $3.45 Million
Wall Street analysts expect that Acceleron Pharma Inc. (NASDAQ:XLRN) will post sales of $3.45 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Acceleron Pharma’s earnings, with estimates ranging from $3.00 million to $4.05 million. Acceleron Pharma reported sales of $3.01 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 14.6%. The business is expected to issue its next earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that Acceleron Pharma will report full year sales of $3.45 million for the current financial year, with estimates ranging from $12.71 million to $15.19 million. For the next financial year, analysts expect that the company will report sales of $25.55 million per share, with estimates ranging from $13.20 million to $37.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Acceleron Pharma.
Acceleron Pharma (NASDAQ:XLRN) last announced its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.65) by $0.12. The company had revenue of $3.10 million for the quarter, compared to analyst estimates of $3.69 million. Acceleron Pharma had a negative return on equity of 44.67% and a negative net margin of 724.22%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the business earned ($0.59) EPS.
Several analysts have weighed in on the company. Zacks Investment Research downgraded Acceleron Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday. Credit Suisse Group set a $35.00 target price on Acceleron Pharma and gave the company a “buy” rating in a report on Saturday, August 5th. BidaskClub upgraded Acceleron Pharma from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 6th. Citigroup Inc. upped their target price on Acceleron Pharma to $44.00 and gave the company a “buy” rating in a report on Friday, August 4th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $40.00 target price on shares of Acceleron Pharma in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $41.53.
In other Acceleron Pharma news, SVP Ravindra Kumar sold 937 shares of the stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $32.00, for a total value of $29,984.00. Following the completion of the transaction, the senior vice president now owns 96,264 shares in the company, valued at $3,080,448. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kevin F. Mclaughlin sold 34,400 shares of the stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $32.00, for a total value of $1,100,800.00. Following the completion of the transaction, the chief financial officer now owns 80,950 shares of the company’s stock, valued at approximately $2,590,400. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,402 shares of company stock valued at $2,105,416. 3.90% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased 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 worth $110,000 after buying an additional 3,288 shares during the period. NJ State Employees Deferred Compensation Plan purchased a new position in Acceleron Pharma during the second quarter worth about $213,000. Bank of Montreal Can purchased a new position in Acceleron Pharma during the first quarter worth about $237,000. Parametric Portfolio Associates LLC purchased a new position in Acceleron Pharma during the first quarter worth about $241,000. Finally, Tudor Investment Corp ET AL increased 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 worth $241,000 after buying an additional 716 shares during the period. Institutional investors and hedge funds own 83.65% of the company’s stock.
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Shares of Acceleron Pharma (XLRN) opened at 34.10 on Friday. Acceleron Pharma has a 12 month low of $23.07 and a 12 month high of $41.69. The firm’s market cap is $1.32 billion. The stock’s 50 day moving average is $32.33 and its 200 day moving average is $28.88.
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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