Acceleron Pharma Inc (XLRN) Expected to Announce Quarterly Sales of $3.39 Million

Wall Street analysts expect Acceleron Pharma Inc (NASDAQ:XLRN) to announce $3.39 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Acceleron Pharma’s earnings, with estimates ranging from $2.76 million to $4.50 million. Acceleron Pharma reported sales of $3.37 million during the same quarter last year, which would suggest a positive year over year growth rate of 0.6%. The firm is expected to issue its next quarterly earnings report on Wednesday, March 7th.

On average, analysts expect that Acceleron Pharma will report full year sales of $3.39 million for the current fiscal year, with estimates ranging from $12.54 million to $14.27 million. For the next fiscal year, analysts forecast that the firm will post sales of $27.28 million per share, with estimates ranging from $13.20 million to $37.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Acceleron Pharma.

XLRN has been the topic of a number of research analyst reports. Credit Suisse Group set a $51.00 price objective on shares of Acceleron Pharma and gave the stock a “buy” rating in a report on Tuesday, November 14th. Cann reissued a “hold” rating on shares of Acceleron Pharma in a report on Monday, January 8th. HC Wainwright reissued a “buy” rating and set a $62.00 price objective on shares of Acceleron Pharma in a report on Monday, December 11th. Royal Bank of Canada restated a “hold” rating on shares of Acceleron Pharma in a research report on Thursday, November 2nd. Finally, Oppenheimer restated a “hold” rating on shares of Acceleron Pharma in a research report on Tuesday, November 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $44.81.

In related news, EVP Matthew L. Sherman sold 4,633 shares of Acceleron Pharma stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $42.71, for a total value of $197,875.43. Following the transaction, the executive vice president now directly owns 77,700 shares in the company, valued at approximately $3,318,567. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jean George sold 105,122 shares of Acceleron Pharma stock in a transaction on Friday, December 15th. The shares were sold at an average price of $35.73, for a total transaction of $3,756,009.06. Following the completion of the transaction, the director now owns 1,250 shares in the company, valued at $44,662.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 146,021 shares of company stock worth $5,529,598. Insiders own 3.90% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. purchased a new position in Acceleron Pharma in the 3rd quarter valued at $2,721,000. Vanguard Group Inc. grew its position in Acceleron Pharma by 6.1% in the 2nd 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. Fox Run Management L.L.C. grew its position in Acceleron Pharma by 111.2% in the 3rd quarter. Fox Run Management L.L.C. now owns 30,200 shares of the biopharmaceutical company’s stock valued at $1,127,000 after buying an additional 15,900 shares during the last quarter. Artisan Partners Limited Partnership purchased a new position in Acceleron Pharma in the 3rd quarter valued at $11,938,000. Finally, Teachers Advisors LLC grew its position in Acceleron Pharma by 25.7% in the 2nd quarter. Teachers Advisors LLC now owns 57,916 shares of the biopharmaceutical company’s stock valued at $1,760,000 after buying an additional 11,836 shares during the last quarter. Hedge funds and other institutional investors own 85.56% of the company’s stock.

Shares of Acceleron Pharma (NASDAQ:XLRN) opened at $38.97 on Friday. Acceleron Pharma has a 1-year low of $23.23 and a 1-year high of $46.93. The firm has a market cap of $1,862.33, a P/E ratio of -15.05 and a beta of 1.45.

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

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