Acceleron Pharma (XLRN) Stock Rating Reaffirmed by Cann
Acceleron Pharma (NASDAQ:XLRN)‘s stock had its “hold” rating restated by research analysts at Cann in a note issued to investors on Monday.
The analysts wrote, “Acceleron announced today preliminary results from the first two cohorts in Part 1 of the phase II clinical study of ACE-083 in patients with facioscapulohumeral dystrophy (FSHD). Results from the tibialis anterior cohort demonstrated patients treated with ACE-083 generated a mean total muscle volume increase of 12.6%; this was associated with a mean improvement in muscle fat fraction of 5.3%. Results from the biceps brachii cohort of the studyl demonstrated patients treated with ACE-083 generated a mean total muscle volume gain of 13.2%; this was associated with a mean improvement in muscle fat fraction of 0.6%.””
XLRN has been the topic of a number of other reports. Credit Suisse Group set a $51.00 target price on shares of Acceleron Pharma and gave the company a “buy” rating in a research note on Tuesday, November 14th. ValuEngine cut shares of Acceleron Pharma from a “hold” rating to a “sell” rating in a research note on Friday, October 6th. Barclays upped their price target on shares of Acceleron Pharma from $42.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, September 20th. HC Wainwright began coverage on shares of Acceleron Pharma in a research note on Thursday, October 12th. They set a “buy” rating and a $57.00 price target on the stock. Finally, UBS Group restated a “buy” rating and set a $50.00 price target (up from $36.00) on shares of Acceleron Pharma in a research note on Tuesday, September 12th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $44.56.
Acceleron Pharma (NASDAQ:XLRN) last released its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.67) by $0.02. The firm had revenue of $3.00 million for the quarter, compared to analysts’ expectations of $3.52 million. Acceleron Pharma had a negative net margin of 759.34% and a negative return on equity of 40.70%. The company’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.55) earnings per share. equities research analysts predict that Acceleron Pharma will post -2.65 earnings per share for the current fiscal year.
In related news, CFO Kevin F. Mclaughlin sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $42.42, for a total transaction of $169,680.00. Following the sale, the chief financial officer now owns 45,300 shares of the company’s stock, valued at approximately $1,921,626. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Christopher Rovaldi sold 2,266 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $42.42, for a total transaction of $96,123.72. Following the sale, the senior vice president now directly owns 52,977 shares in the company, valued at approximately $2,247,284.34. The disclosure for this sale can be found here. Insiders have sold a total of 135,021 shares of company stock worth $5,034,598 over the last 90 days. 3.90% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Quantbot Technologies LP increased its holdings in Acceleron Pharma by 416.3% during the 3rd quarter. Quantbot Technologies LP now owns 2,917 shares of the biopharmaceutical company’s stock worth $108,000 after acquiring an additional 2,352 shares during the period. BNP Paribas Arbitrage SA increased its holdings in Acceleron Pharma by 969.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,627 shares of the biopharmaceutical company’s stock worth $110,000 after acquiring an additional 3,288 shares during the period. Oppenheimer & Co. Inc. bought a new stake in Acceleron Pharma during the 3rd quarter worth approximately $225,000. PNC Financial Services Group Inc. increased its holdings in Acceleron Pharma by 57.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,460 shares of the biopharmaceutical company’s stock worth $258,000 after acquiring an additional 3,100 shares during the period. Finally, Trexquant Investment LP bought a new stake in Acceleron Pharma during the 3rd quarter worth approximately $266,000. 85.70% of the stock is currently owned by institutional investors and hedge funds.
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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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