$3.35 Million in Sales Expected for Acceleron Pharma Inc. (XLRN) This Quarter
Equities research analysts predict that Acceleron Pharma Inc. (NASDAQ:XLRN) will report $3.35 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Acceleron Pharma’s earnings, with the highest sales estimate coming in at $4.05 million and the lowest estimate coming in at $3.00 million. Acceleron Pharma posted sales of $3.01 million in the same quarter last year, which would indicate a positive year over year growth rate of 11.3%. The company is scheduled to announce its next earnings results on Thursday, November 2nd.
On average, analysts expect that Acceleron Pharma will report full-year sales of $3.35 million for the current fiscal year, with estimates ranging from $12.71 million to $15.19 million. For the next fiscal year, analysts anticipate that the business will post sales of $29.07 million per share, with estimates ranging from $13.20 million to $37.00 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Acceleron Pharma.
Acceleron Pharma (NASDAQ:XLRN) last posted its 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 return on equity of 44.67% and a negative net margin of 724.22%. The company had revenue of $3.10 million during the quarter, compared to analyst estimates of $3.69 million. During the same quarter last year, the firm posted ($0.59) earnings per share. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year.
XLRN has been the subject of a number of recent analyst reports. Credit Suisse Group set a $35.00 price objective on Acceleron Pharma and gave the company a “buy” rating in a research report on Saturday, August 5th. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Acceleron Pharma in a research report on Tuesday, June 13th. Piper Jaffray Companies raised their price objective 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 reaffirmed a “hold” rating on shares of Acceleron Pharma in a research report on Tuesday, September 5th. Finally, BidaskClub cut Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $42.81.
Shares of Acceleron Pharma (NASDAQ XLRN) opened at 38.43 on Friday. Acceleron Pharma has a 12-month low of $23.07 and a 12-month high of $41.69. The company has a 50-day moving average price of $36.89 and a 200 day moving average price of $31.67. The firm’s market capitalization is $1.49 billion.
In related news, SVP Ravindra Kumar sold 13,065 shares of Acceleron Pharma stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $35.41, for a total transaction of $462,631.65. Following the completion of the sale, the senior vice president now directly owns 108,392 shares of the company’s stock, valued at approximately $3,838,160.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Kevin F. Mclaughlin sold 16,000 shares of Acceleron Pharma stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $38.41, for a total value of $614,560.00. Following the sale, the chief financial officer now directly owns 50,810 shares of the company’s stock, valued at $1,951,612.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,578 shares of company stock valued at $2,518,117. 3.90% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of XLRN. BlackRock Inc. increased its stake in Acceleron Pharma by 4,559.6% during the 1st 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 period. Westfield Capital Management Co. LP increased its stake in Acceleron Pharma by 46.6% during the 2nd 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 period. Sectoral Asset Management Inc increased its stake in Acceleron Pharma by 378.2% during the 2nd 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 period. AXA bought a new position in Acceleron Pharma during the 2nd quarter worth $9,833,000. Finally, UBS Asset Management Americas Inc. bought a new position in Acceleron Pharma during the 2nd quarter worth $9,747,000. Hedge funds and other institutional investors own 77.35% of the company’s stock.
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Acceleron Pharma Company Profile
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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