UBS AG restated their buy rating on shares of Acceleron Pharma Inc. (NASDAQ:XLRN) in a report released on Tuesday. They currently have a $50.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $36.00.
Other equities analysts have also recently issued reports about the stock. CIBC cut shares of Acceleron Pharma from an outperform rating to a market perform rating in a research note on Tuesday, June 13th. Oppenheimer Holdings, Inc. reaffirmed a market perform rating on shares of Acceleron Pharma in a report on Tuesday, June 13th. Morgan Stanley cut their price target on Acceleron Pharma from $51.00 to $42.00 and set an overweight rating for the company in a report on Tuesday, June 13th. Credit Suisse Group reaffirmed a buy rating and set a $46.00 price target on shares of Acceleron Pharma in a report on Tuesday, July 4th. Finally, BidaskClub raised Acceleron Pharma from a buy rating to a strong-buy rating in a report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $42.21.
Shares of Acceleron Pharma (NASDAQ:XLRN) opened at 38.09 on Tuesday. The stock has a 50 day moving average of $34.87 and a 200-day moving average of $30.55. The firm’s market capitalization is $1.47 billion. Acceleron Pharma has a 52 week low of $23.07 and a 52 week high of $41.69.
Acceleron Pharma (NASDAQ:XLRN) last released its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.65) by ($0.12). Acceleron Pharma had a negative net margin of 724.22% and a negative return on equity of 44.67%. The firm had revenue of $3.10 million during the quarter, compared to the consensus estimate of $3.69 million. During the same period in the prior year, the business posted ($0.59) earnings per share. Acceleron Pharma’s quarterly revenue was down 3.1% compared to the same quarter last year. Equities analysts anticipate that Acceleron Pharma will post ($2.70) earnings per share for the current fiscal year.
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In related news, SVP Ravindra Kumar sold 13,065 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $35.41, for a total value of $462,631.65. Following the completion of the transaction, the senior vice president now owns 108,392 shares of the company’s stock, valued at $3,838,160.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Kevin F. Mclaughlin sold 34,400 shares of the business’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $32.00, for a total value of $1,100,800.00. Following the completion of the transaction, the chief financial officer now directly owns 80,950 shares of the company’s stock, valued at approximately $2,590,400. The disclosure for this sale can be found here. Insiders have sold 64,402 shares of company stock valued at $2,105,416 in the last three months. Insiders own 3.90% of the company’s stock.
A number of hedge funds have recently bought and sold shares of XLRN. BNP Paribas Arbitrage SA raised its stake in Acceleron Pharma by 969.9% in the second quarter. BNP Paribas Arbitrage SA now owns 3,627 shares of the biopharmaceutical company’s stock valued at $110,000 after purchasing an additional 3,288 shares in the last quarter. NJ State Employees Deferred Compensation Plan acquired a new position in Acceleron Pharma in the second quarter valued at about $213,000. Bank of Montreal Can acquired a new position in Acceleron Pharma in the first quarter valued at about $237,000. Parametric Portfolio Associates LLC acquired a new position in Acceleron Pharma in the first quarter valued at about $241,000. Finally, Tudor Investment Corp ET AL raised its stake in Acceleron Pharma by 8.5% in the first quarter. Tudor Investment Corp ET AL now owns 9,105 shares of the biopharmaceutical company’s stock valued at $241,000 after purchasing an additional 716 shares in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.
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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