Acceleron Pharma (NASDAQ:XLRN)‘s stock had its “outperform” rating reaffirmed by Credit Suisse Group in a research note issued to investors on Thursday. They currently have a $55.00 target price on the biopharmaceutical company’s stock. Credit Suisse Group’s target price would suggest a potential upside of 27.79% from the stock’s current price.
A number of other equities research analysts have also recently issued reports on XLRN. Barclays upped their price objective on Acceleron Pharma from $42.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 20th. Oppenheimer reiterated a “hold” rating on shares of Acceleron Pharma in a research note on Wednesday, September 20th. ValuEngine cut Acceleron Pharma from a “hold” rating to a “sell” rating in a research note on Friday, October 6th. HC Wainwright initiated coverage on Acceleron Pharma in a research note on Thursday, October 12th. They set a “buy” rating and a $57.00 price objective on the stock. Finally, Royal Bank of Canada reiterated a “hold” rating on shares of Acceleron Pharma in a research note on Thursday, November 2nd. 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’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $44.81.
Acceleron Pharma (NASDAQ XLRN) traded up $0.69 during midday trading on Thursday, reaching $43.04. The company’s stock had a trading volume of 193,766 shares, compared to its average volume of 275,733. The company has a market cap of $1,946.91, a PE ratio of -16.62 and a beta of 1.59. Acceleron Pharma has a 12-month low of $23.07 and a 12-month high of $46.93.
In related news, Director Jean George sold 105,122 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $35.73, for a total transaction of $3,756,009.06. Following the transaction, the director now directly owns 1,250 shares of the company’s stock, valued at approximately $44,662.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Christopher Rovaldi sold 11,000 shares of the business’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $45.00, for a total value of $495,000.00. Following the transaction, the senior vice president now directly owns 35,701 shares in the company, valued at $1,606,545. The disclosure for this sale can be found here. Insiders have sold a total of 146,021 shares of company stock worth $5,529,598 over the last three months. 3.90% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of XLRN. Schwab Charles Investment Management Inc. grew its holdings in Acceleron Pharma by 11.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 175,553 shares of the biopharmaceutical company’s stock valued at $7,451,000 after buying an additional 17,601 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Acceleron Pharma in the 3rd quarter valued at $1,496,000. Iguana Healthcare Management LLC acquired a new position in Acceleron Pharma in the 3rd quarter valued at $2,612,000. Point72 Asset Management L.P. acquired a new position in Acceleron Pharma in the 3rd quarter valued at $2,721,000. Finally, Granahan Investment Management Inc. MA grew its holdings in Acceleron Pharma by 15.2% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 217,091 shares of the biopharmaceutical company’s stock valued at $8,102,000 after buying an additional 28,694 shares in the last quarter. 85.70% of the stock is currently owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION WARNING: “Acceleron Pharma (XLRN) Stock Rating Reaffirmed by Credit Suisse Group” was posted by American Banking News and is the property of of American Banking News. If you are accessing this piece on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark law. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2018/01/21/acceleron-pharma-xlrn-stock-rating-reaffirmed-by-credit-suisse-group.html.
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.
Receive News & Ratings for Acceleron Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acceleron Pharma and related companies with MarketBeat.com's FREE daily email newsletter.