Royal Bank Of Canada Begins Coverage on Acceleron Pharma Inc. (XLRN)
Research analysts at Royal Bank Of Canada began coverage on shares of Acceleron Pharma Inc. (NASDAQ:XLRN) in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage set a “sector perform” rating on the biopharmaceutical company’s stock.
Several other analysts have also issued reports on XLRN. Goldman Sachs Group, Inc. (The) started coverage on shares of Acceleron Pharma in a research report on Wednesday, May 17th. They set a “sell” rating and a $20.00 price target on the stock. FBR & Co reiterated a “buy” rating on shares of Acceleron Pharma in a report on Thursday, May 18th. Cann reiterated a “buy” rating and issued a $40.00 price objective on shares of Acceleron Pharma in a report on Thursday, June 1st. Oppenheimer Holdings, Inc. set a $40.00 price objective on shares of Acceleron Pharma and gave the company a “buy” rating in a report on Thursday, June 1st. Finally, CIBC downgraded shares of Acceleron Pharma from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $42.21.
Acceleron Pharma (XLRN) traded up 0.50% on Thursday, reaching $39.94. 465,608 shares of the company were exchanged. The stock has a 50 day moving average of $35.47 and a 200 day moving average of $30.78. Acceleron Pharma has a 12-month low of $23.07 and a 12-month high of $41.69. The firm’s market capitalization is $1.55 billion.
Acceleron Pharma (NASDAQ:XLRN) last posted its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 the consensus estimate of $3.69 million. During the same period last year, the company posted ($0.59) earnings per share. The business’s revenue was down 3.1% compared to the same quarter last year. Equities analysts anticipate that Acceleron Pharma will post ($2.70) EPS for the current year.
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In other news, CFO Kevin F. Mclaughlin sold 34,400 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 $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 $2,590,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kevin F. Mclaughlin sold 16,000 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $38.41, for a total transaction of $614,560.00. Following the completion of the transaction, the chief financial officer now directly owns 50,810 shares of the company’s stock, valued at approximately $1,951,612.10. The disclosure for this sale can be found here. Insiders have sold 117,915 shares of company stock valued at $4,160,901 in the last ninety days. 3.90% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of XLRN. BlackRock Inc. lifted its holdings 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 worth $97,266,000 after acquiring an additional 3,595,733 shares during the last quarter. Westfield Capital Management Co. LP lifted its holdings in shares of Acceleron Pharma by 46.6% in the second quarter. Westfield Capital Management Co. LP now owns 1,682,359 shares of the biopharmaceutical company’s stock worth $51,127,000 after acquiring an additional 534,440 shares during the last quarter. Sectoral Asset Management Inc lifted its holdings in shares of Acceleron Pharma by 378.2% in the second quarter. Sectoral Asset Management Inc now owns 604,499 shares of the biopharmaceutical company’s stock worth $18,371,000 after acquiring an additional 478,099 shares during the last quarter. AXA bought a new position in shares of Acceleron Pharma in the second quarter worth about $9,833,000. Finally, UBS Asset Management Americas Inc. bought a new position in shares of Acceleron Pharma in the second quarter worth about $9,747,000. 88.07% of the stock is owned by hedge funds and other institutional investors.
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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