Acceleron Pharma Inc. (XLRN) Given Consensus Recommendation of “Buy” by Analysts
Acceleron Pharma Inc. (NASDAQ:XLRN) has received a consensus recommendation of “Buy” from the nineteen brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $43.17.
XLRN has been the topic of several research reports. Credit Suisse Group set a $35.00 price target on Acceleron Pharma and gave the company a “buy” rating in a research report on Saturday, August 5th. Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of Acceleron Pharma in a research report on Tuesday, June 13th. Piper Jaffray Companies lifted their price target on Acceleron Pharma from $32.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, June 26th. Cann reissued a “hold” rating on shares of Acceleron Pharma in a report on Tuesday, September 5th. Finally, BidaskClub downgraded Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st.
Shares of Acceleron Pharma (NASDAQ XLRN) traded up 0.03% during trading on Friday, hitting $39.91. 528,858 shares of the stock were exchanged. The company’s market cap is $1.54 billion. Acceleron Pharma has a 1-year low of $23.07 and a 1-year high of $41.69. The firm’s 50-day moving average is $35.71 and its 200 day moving average is $30.87.
Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) earnings per share for the quarter, missing the Thomson Reuters’ 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 44.67%. The firm had revenue of $3.10 million for the quarter, compared to the consensus estimate of $3.69 million. During the same quarter in the prior year, the firm earned ($0.59) earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. Equities analysts forecast that Acceleron Pharma will post ($2.72) earnings per share for the current fiscal year.
In other news, SVP John D. Quisel sold 5,113 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $38.42, for a total value of $196,441.46. Following the completion of the transaction, the senior vice president now owns 57,918 shares in the company, valued at $2,225,209.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Ravindra Kumar sold 937 shares of the business’s 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 of the company’s stock, valued at approximately $3,080,448. The disclosure for this sale can be found here. Insiders sold 117,915 shares of company stock valued at $4,160,901 in the last 90 days. Company insiders own 3.90% of the company’s stock.
Several hedge funds have recently bought and sold shares of XLRN. 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 worth $97,266,000 after purchasing an additional 3,595,733 shares during the last quarter. Westfield Capital Management Co. LP raised its stake 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 purchasing an additional 534,440 shares during the last quarter. Sectoral Asset Management Inc raised its stake 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 purchasing an additional 478,099 shares during the last quarter. AXA purchased a new position in shares of Acceleron Pharma in the second quarter worth $9,833,000. Finally, UBS Asset Management Americas Inc. purchased a new position in shares of Acceleron Pharma in the second quarter worth $9,747,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.
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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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