UBS AG Reiterates “Buy” Rating for Acceleron Pharma Inc. (XLRN)
Acceleron Pharma Inc. (NASDAQ:XLRN)‘s stock had its “buy” rating restated by equities research analysts at UBS AG in a note issued to investors on Tuesday, The Fly reports. They currently have a $50.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $36.00. UBS AG’s price target indicates a potential upside of 32.38% from the stock’s current price.
XLRN has been the topic of several other reports. Oppenheimer Holdings, Inc. set a $40.00 price objective on shares of Acceleron Pharma and gave the stock a “buy” rating in a research report on Thursday, June 1st. Piper Jaffray Companies restated a “buy” rating and set a $40.00 price target on shares of Acceleron Pharma in a report on Friday, July 28th. FBR & Co restated a “buy” rating on shares of Acceleron Pharma in a report on Thursday, May 18th. Morgan Stanley lowered their price target on shares of Acceleron Pharma from $51.00 to $42.00 and set an “overweight” rating on the stock in a report on Tuesday, June 13th. Finally, Cann restated a “buy” rating and set a $40.00 price target on shares of Acceleron Pharma in a report on Thursday, June 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $42.21.
Shares of Acceleron Pharma (NASDAQ:XLRN) opened at 37.77 on Tuesday. Acceleron Pharma has a 12-month low of $23.07 and a 12-month high of $41.69. The firm’s market cap is $1.46 billion. The stock’s 50 day moving average price is $34.79 and its 200 day moving average price is $30.50.
Acceleron Pharma (NASDAQ:XLRN) last posted its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.65) by $0.12. Acceleron Pharma had a negative return on equity of 44.67% and a negative net margin of 724.22%. The firm had revenue of $3.10 million for the quarter, compared to analysts’ expectations of $3.69 million. During the same quarter in the previous year, the firm posted ($0.59) earnings per share. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, equities research analysts predict that Acceleron Pharma will post ($2.70) EPS for the current fiscal year.
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In related news, SVP Ravindra Kumar sold 937 shares of the company’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 completion of the sale, the senior vice president now directly owns 96,264 shares in the company, valued at $3,080,448. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin F. Mclaughlin sold 34,400 shares of the company’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 of the company’s stock, valued at $2,590,400. The disclosure for this sale can be found here. Insiders sold 64,402 shares of company stock valued at $2,105,416 over the last quarter. 3.90% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA boosted its holdings 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 purchasing an additional 3,288 shares in the last quarter. NJ State Employees Deferred Compensation Plan bought a new stake in Acceleron Pharma in the second quarter worth $213,000. Bank of Montreal Can bought a new stake in Acceleron Pharma in the first quarter worth $237,000. Parametric Portfolio Associates LLC bought a new stake in Acceleron Pharma in the first quarter worth $241,000. Finally, Tudor Investment Corp ET AL boosted its holdings 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 purchasing an additional 716 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.
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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