Alps Advisors Inc. cut its position in shares of Acceleron Pharma Inc (NASDAQ:XLRN) by 4.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,392 shares of the biopharmaceutical company’s stock after selling 4,440 shares during the period. Alps Advisors Inc. owned approximately 0.20% of Acceleron Pharma worth $4,164,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of XLRN. Point72 Asset Management L.P. raised its stake in Acceleron Pharma by 55.9% during the second quarter. Point72 Asset Management L.P. now owns 775,768 shares of the biopharmaceutical company’s stock worth $31,869,000 after purchasing an additional 278,068 shares during the period. Sofinnova Investments Inc. purchased a new stake in shares of Acceleron Pharma in the 2nd quarter valued at approximately $9,902,000. Nuveen Asset Management LLC purchased a new stake in shares of Acceleron Pharma in the 2nd quarter valued at approximately $7,983,000. Candriam Luxembourg S.C.A. raised its stake in shares of Acceleron Pharma by 58.8% in the 2nd quarter. Candriam Luxembourg S.C.A. now owns 381,948 shares of the biopharmaceutical company’s stock valued at $15,622,000 after acquiring an additional 141,448 shares during the period. Finally, BlackRock Inc. raised its stake in shares of Acceleron Pharma by 2.6% in the 2nd quarter. BlackRock Inc. now owns 4,921,880 shares of the biopharmaceutical company’s stock valued at $202,191,000 after acquiring an additional 124,369 shares during the period. 90.37% of the stock is currently owned by institutional investors.
Shares of XLRN stock opened at $43.28 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.11 and a current ratio of 17.11. The stock has a market capitalization of $2.51 billion, a P/E ratio of -16.71 and a beta of 1.23. The company has a 50 day moving average price of $42.00 and a 200 day moving average price of $42.16. Acceleron Pharma Inc has a fifty-two week low of $37.01 and a fifty-two week high of $58.11.
Acceleron Pharma (NASDAQ:XLRN) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.03). The business had revenue of $4.20 million during the quarter, compared to analyst estimates of $4.44 million. Acceleron Pharma had a negative net margin of 318.84% and a negative return on equity of 29.51%. The company’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.63) EPS. On average, research analysts forecast that Acceleron Pharma Inc will post -2.33 EPS for the current fiscal year.
A number of equities research analysts have recently issued reports on XLRN shares. Piper Jaffray Companies set a $71.00 price target on shares of Acceleron Pharma and gave the company a “buy” rating in a research note on Monday, October 21st. Leerink Swann dropped coverage on shares of Acceleron Pharma in a research note on Tuesday, September 17th. Morgan Stanley reduced their price target on shares of Acceleron Pharma from $52.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Friday, October 11th. Zacks Investment Research reissued a “hold” rating on shares of Acceleron Pharma in a research note on Saturday, July 20th. Finally, ValuEngine raised shares of Acceleron Pharma from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 8th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $57.58.
In related news, CFO Kevin F. Mclaughlin sold 8,000 shares of Acceleron Pharma stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $45.30, for a total value of $362,400.00. Following the completion of the transaction, the chief financial officer now owns 22,452 shares in the company, valued at $1,017,075.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Habib J. Dable sold 5,625 shares of Acceleron Pharma stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $45.23, for a total transaction of $254,418.75. Following the completion of the transaction, the chief executive officer now owns 71,227 shares of the company’s stock, valued at approximately $3,221,597.21. The disclosure for this sale can be found here. Insiders sold 21,422 shares of company stock valued at $969,486 in the last 90 days. Company insiders own 2.50% of the company’s stock.
About Acceleron Pharma
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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