Acceleron Pharma’s (XLRN) “Hold” Rating Reiterated at Royal Bank Of Canada
Acceleron Pharma Inc. (NASDAQ:XLRN)‘s stock had its “hold” rating reaffirmed by equities researchers at Royal Bank Of Canada in a research note issued to investors on Thursday.
Several other brokerages have also recently issued reports on XLRN. Credit Suisse Group set a $35.00 target price on Acceleron Pharma and gave the stock a “buy” rating in a research report on Saturday, August 5th. Cann reissued a “hold” rating on shares of Acceleron Pharma in a research report on Tuesday, September 5th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Acceleron Pharma in a research report on Tuesday, September 5th. BidaskClub cut Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Zacks Investment Research raised Acceleron Pharma from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $43.65.
Acceleron Pharma (NASDAQ:XLRN) last announced its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by ($0.12). The firm had revenue of $3.10 million during the quarter, compared to analysts’ expectations of $3.69 million. Acceleron Pharma had a negative return on equity of 44.67% and a negative net margin of 724.22%. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.59) earnings per share.
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In related news, SVP John D. Quisel sold 5,113 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 57,918 shares of the company’s stock, valued at approximately $2,225,209.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Corp /De/ Celgene purchased 745,592 shares of the stock in a transaction that occurred on Monday, September 25th. The stock was acquired at an average cost of $37.00 per share, for a total transaction of $27,586,904.00. Following the completion of the acquisition, the insider now owns 6,118,479 shares in the company, valued at approximately $226,383,723. The disclosure for this purchase can be found here. Over the last three months, insiders sold 66,578 shares of company stock worth $2,518,117. 3.90% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. purchased a new position in Acceleron Pharma in the 4th quarter worth approximately $378,000. Candriam Luxembourg S.C.A. lifted its holdings in Acceleron Pharma by 20.5% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 182,000 shares of the biopharmaceutical company’s stock worth $4,818,000 after purchasing an additional 31,000 shares in the last quarter. BlackRock Advisors LLC lifted its holdings in Acceleron Pharma by 0.5% in the 3rd quarter. BlackRock Advisors LLC now owns 652,195 shares of the biopharmaceutical company’s stock worth $23,603,000 after purchasing an additional 3,278 shares in the last quarter. Birchview Capital LP purchased a new position in Acceleron Pharma in the 2nd quarter worth approximately $456,000. Finally, AXA purchased a new position in Acceleron Pharma in the 2nd quarter worth approximately $9,833,000. 77.46% of the stock is currently owned by institutional investors.
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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