Bank of America Corp DE raised its holdings in shares of Acceleron Pharma Inc (NASDAQ:XLRN) by 45.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,241 shares of the biopharmaceutical company’s stock after buying an additional 26,046 shares during the quarter. Bank of America Corp DE owned about 0.18% of Acceleron Pharma worth $4,039,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of XLRN. JPMorgan Chase & Co. raised its position in shares of Acceleron Pharma by 63.9% during the 1st quarter. JPMorgan Chase & Co. now owns 90,642 shares of the biopharmaceutical company’s stock valued at $3,544,000 after buying an additional 35,343 shares in the last quarter. Xact Kapitalforvaltning AB raised its position in shares of Acceleron Pharma by 33.2% during the 1st quarter. Xact Kapitalforvaltning AB now owns 6,823 shares of the biopharmaceutical company’s stock valued at $267,000 after buying an additional 1,700 shares in the last quarter. Neville Rodie & Shaw Inc. purchased a new stake in shares of Acceleron Pharma during the 2nd quarter valued at about $2,085,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Acceleron Pharma during the 2nd quarter valued at about $349,000. Finally, Amalgamated Bank purchased a new stake in shares of Acceleron Pharma during the 2nd quarter valued at about $281,000. Institutional investors own 88.28% of the company’s stock.
Acceleron Pharma stock opened at $50.77 on Thursday. Acceleron Pharma Inc has a 1-year low of $32.53 and a 1-year high of $59.59. The stock has a market capitalization of $2.47 billion, a P/E ratio of -18.94 and a beta of 1.38.
Acceleron Pharma (NASDAQ:XLRN) last posted its quarterly earnings data on Tuesday, October 30th. The biopharmaceutical company reported ($0.63) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.66) by $0.03. Acceleron Pharma had a negative net margin of 795.94% and a negative return on equity of 30.78%. The company had revenue of $3.30 million for the quarter, compared to analyst estimates of $4.37 million. During the same period in the prior year, the company posted ($0.65) EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, equities research analysts predict that Acceleron Pharma Inc will post -2.52 earnings per share for the current fiscal year.
Several analysts have recently issued reports on XLRN shares. BidaskClub upgraded shares of Acceleron Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, August 28th. HC Wainwright upped their target price on shares of Acceleron Pharma to $74.00 and gave the company a “buy” rating in a research report on Tuesday, July 10th. UBS Group upped their target price on shares of Acceleron Pharma to $62.00 and gave the company a “buy” rating in a research report on Tuesday, July 10th. Morgan Stanley cut shares of Acceleron Pharma from an “overweight” rating to an “equal weight” rating and set a $50.00 target price on the stock. in a research report on Friday, July 13th. Finally, Royal Bank of Canada restated a “hold” rating and set a $48.00 target price on shares of Acceleron Pharma in a research report on Thursday, July 12th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Acceleron Pharma presently has an average rating of “Buy” and a consensus target price of $56.30.
In related news, CFO Kevin F. Mclaughlin sold 12,500 shares of the stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $54.00, for a total value of $675,000.00. Following the sale, the chief financial officer now directly owns 56,439 shares of the company’s stock, valued at approximately $3,047,706. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.00% of the company’s stock.
Acceleron Pharma Profile
Acceleron Pharma Inc, a clinical stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics to treat serious and rare diseases. Its therapeutic candidates include luspatercept, which is in Phase III clinical trials for the treatment of myelodysplastic syndromes and beta-thalassemia; Phase II clinical trials for the treatment of patients with transfusion-dependent beta-thalassemia and myelofibrosis.
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