Brokerages Anticipate Acceleron Pharma Inc (XLRN) Will Announce Quarterly Sales of $3.39 Million

Equities research analysts expect that Acceleron Pharma Inc (NASDAQ:XLRN) will post sales of $3.39 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Acceleron Pharma’s earnings. The highest sales estimate is $4.50 million and the lowest is $2.76 million. Acceleron Pharma posted sales of $3.37 million in the same quarter last year, which would indicate a positive year over year growth rate of 0.6%. The firm is scheduled to announce its next earnings report on Wednesday, March 7th.

According to Zacks, analysts expect that Acceleron Pharma will report full-year sales of $3.39 million for the current financial year, with estimates ranging from $12.54 million to $14.27 million. For the next financial year, analysts forecast that the firm will report sales of $27.28 million per share, with estimates ranging from $13.20 million to $37.00 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Acceleron Pharma.

Acceleron Pharma (NASDAQ:XLRN) last issued its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.67) by $0.02. The firm had revenue of $3.00 million for the quarter, compared to analyst estimates of $3.52 million. Acceleron Pharma had a negative return on equity of 40.70% and a negative net margin of 759.34%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same period last year, the company earned ($0.55) EPS.

A number of brokerages have recently weighed in on XLRN. Credit Suisse Group reiterated an “outperform” rating and issued a $55.00 price objective on shares of Acceleron Pharma in a research report on Thursday, January 18th. BidaskClub upgraded Acceleron Pharma from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Cann reiterated a “hold” rating on shares of Acceleron Pharma in a research report on Monday, January 8th. Oppenheimer reiterated a “hold” rating on shares of Acceleron Pharma in a research report on Monday, January 8th. Finally, Royal Bank of Canada reiterated a “hold” rating on shares of Acceleron Pharma in a research report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Acceleron Pharma presently has an average rating of “Buy” and an average price target of $44.81.

Shares of Acceleron Pharma (NASDAQ:XLRN) opened at $44.50 on Tuesday. The firm has a market capitalization of $1,960.00, a P/E ratio of -17.25 and a beta of 1.59. Acceleron Pharma has a 1 year low of $23.07 and a 1 year high of $46.93.

In other news, CFO Kevin F. Mclaughlin sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $42.42, for a total value of $169,680.00. Following the completion of the transaction, the chief financial officer now owns 45,300 shares in the company, valued at approximately $1,921,626. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Christopher Rovaldi sold 11,000 shares of the firm’s stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $45.00, for a total value of $495,000.00. Following the completion of the transaction, the senior vice president now owns 35,701 shares of the company’s stock, valued at approximately $1,606,545. The disclosure for this sale can be found here. In the last 90 days, insiders sold 146,021 shares of company stock valued at $5,529,598. 3.90% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Acceleron Pharma by 9.0% during the second quarter. BlackRock Inc. now owns 4,005,228 shares of the biopharmaceutical company’s stock valued at $121,719,000 after buying an additional 330,635 shares during the last quarter. Vanguard Group Inc. raised its stake in Acceleron Pharma by 6.1% during the second quarter. Vanguard Group Inc. now owns 2,029,040 shares of the biopharmaceutical company’s stock valued at $61,663,000 after buying an additional 116,705 shares during the last quarter. Perceptive Advisors LLC raised its stake in Acceleron Pharma by 127.2% during the third quarter. Perceptive Advisors LLC now owns 1,616,259 shares of the biopharmaceutical company’s stock valued at $60,319,000 after buying an additional 905,000 shares during the last quarter. State Street Corp raised its stake in Acceleron Pharma by 9.4% during the second quarter. State Street Corp now owns 1,131,824 shares of the biopharmaceutical company’s stock valued at $34,386,000 after buying an additional 97,199 shares during the last quarter. Finally, Sectoral Asset Management Inc raised its stake in Acceleron Pharma by 378.2% during the second quarter. Sectoral Asset Management Inc now owns 604,499 shares of the biopharmaceutical company’s stock valued at $18,371,000 after buying an additional 478,099 shares during the last quarter. Institutional investors own 85.68% of the company’s stock.

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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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Earnings History and Estimates for Acceleron Pharma (NASDAQ:XLRN)

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