Insider Buying: Acceleron Pharma Inc. (XLRN) Major Shareholder Buys 745,592 Shares of Stock
Acceleron Pharma Inc. (NASDAQ:XLRN) major shareholder Corp /De/ Celgene purchased 745,592 shares of the firm’s stock in a transaction on Monday, September 25th. The stock was bought at an average cost of $37.00 per share, with a total value of $27,586,904.00. Following the acquisition, the insider now owns 6,118,479 shares of the company’s stock, valued at approximately $226,383,723. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.12). The business had revenue of $3.10 million during 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 revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.59) EPS.
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A number of research analysts have issued reports on XLRN shares. BidaskClub raised shares of Acceleron Pharma from a “hold” rating to a “buy” rating in a report on Wednesday, June 21st. Instinet reiterated a “buy” rating and issued a $58.00 price objective on shares of Acceleron Pharma in a research note on Wednesday, June 14th. FBR & Co set a $63.00 price objective on shares of Acceleron Pharma and gave the stock a “buy” rating in a research note on Tuesday, June 13th. Oppenheimer Holdings, Inc. set a $40.00 price objective on shares of Acceleron Pharma and gave the stock a “buy” rating in a research note on Thursday, June 1st. Finally, Cann reiterated a “buy” rating and issued a $40.00 price objective on shares of Acceleron Pharma in a research note on Thursday, June 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $42.81.
Institutional investors have recently added to or reduced their stakes in the business. 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 during the period. NJ State Employees Deferred Compensation Plan acquired a new position in Acceleron Pharma in the second quarter worth $213,000. PNC Financial Services Group Inc. boosted its holdings in Acceleron Pharma by 57.8% in the second quarter. PNC Financial Services Group Inc. now owns 8,460 shares of the biopharmaceutical company’s stock worth $258,000 after purchasing an additional 3,100 shares during the period. Bank of Montreal Can acquired a new position in Acceleron Pharma in the first quarter worth $237,000. Finally, Parametric Portfolio Associates LLC acquired a new position in Acceleron Pharma in the first quarter worth $241,000. 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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