Acceleron Pharma (XLRN) Upgraded to “Buy” at BidaskClub

Acceleron Pharma (NASDAQ:XLRN) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Other research analysts have also issued research reports about the company. HC Wainwright boosted their price objective on Acceleron Pharma to $74.00 and gave the company a “buy” rating in a research report on Tuesday, July 10th. UBS Group boosted their price target on Acceleron Pharma to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, July 10th. Credit Suisse Group set a $55.00 price target on Acceleron Pharma and gave the stock a “buy” rating in a research report on Wednesday, May 9th. ValuEngine upgraded Acceleron Pharma from a “hold” rating to a “buy” rating in a research report on Friday, May 4th. Finally, Morgan Stanley lowered Acceleron Pharma from an “overweight” rating to an “equal weight” rating and set a $50.00 price target for the company. in a research report on Friday, July 13th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $51.50.

NASDAQ:XLRN opened at $49.99 on Tuesday. Acceleron Pharma has a 12-month low of $32.53 and a 12-month high of $50.11. The company has a market cap of $2.29 billion, a P/E ratio of -18.65 and a beta of 1.30.

Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings data on Thursday, August 2nd. The biopharmaceutical company reported ($0.63) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.64) by $0.01. Acceleron Pharma had a negative return on equity of 30.78% and a negative net margin of 795.94%. The business had revenue of $3.69 million during the quarter, compared to analyst estimates of $3.37 million. During the same quarter in the previous year, the firm posted ($0.77) EPS. The business’s revenue for the quarter was up 20.5% compared to the same quarter last year. equities analysts forecast that Acceleron Pharma will post -2.58 earnings per share for the current fiscal year.

In other Acceleron Pharma news, CFO Kevin F. Mclaughlin sold 25,000 shares of the business’s stock in a transaction on Friday, June 29th. The stock was sold at an average price of $48.00, for a total transaction of $1,200,000.00. Following the completion of the transaction, the chief financial officer now owns 68,939 shares in the company, valued at approximately $3,309,072. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.00% of the company’s stock.

A number of hedge funds have recently made changes to their positions in XLRN. SG Americas Securities LLC bought a new stake in shares of Acceleron Pharma in the 1st quarter worth $109,000. Dupont Capital Management Corp bought a new stake in shares of Acceleron Pharma in the 1st quarter worth $188,000. Integrated Wealth Concepts LLC bought a new stake in shares of Acceleron Pharma in the 2nd quarter worth $237,000. Cubist Systematic Strategies LLC bought a new stake in shares of Acceleron Pharma in the 2nd quarter worth $259,000. Finally, Xact Kapitalforvaltning AB raised its stake in shares of Acceleron Pharma by 33.2% in the 1st quarter. Xact Kapitalforvaltning AB now owns 6,823 shares of the biopharmaceutical company’s stock worth $267,000 after buying an additional 1,700 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

Acceleron Pharma Company 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.

Featured Article: Why Dividend Stocks May Be Right for You

Analyst Recommendations for Acceleron Pharma (NASDAQ:XLRN)

Receive News & Ratings for Acceleron Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acceleron Pharma and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply