Acceleron Pharma (NASDAQ:XLRN) Given a $53.00 Price Target at Morgan Stanley

Morgan Stanley set a $53.00 target price on Acceleron Pharma (NASDAQ:XLRN) in a research report released on Monday morning, TipRanks reports. The firm currently has a hold rating on the biopharmaceutical company’s stock.

A number of other research firms have also weighed in on XLRN. HC Wainwright restated a buy rating and issued a $25.00 target price on shares of Aurinia Pharmaceuticals in a report on Tuesday, June 4th. Barclays set a $24.00 target price on shares of Orion Engineered Carbons and gave the stock a hold rating in a report on Friday, May 3rd. Piper Jaffray Companies lowered their target price on shares of Motus GI from $8.00 to $6.00 in a report on Friday, May 10th. ValuEngine lowered shares of Acceleron Pharma from a strong-buy rating to a buy rating in a report on Thursday, April 18th. Finally, Cowen restated a buy rating on shares of Ovid Therapeutics in a report on Sunday, May 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. Acceleron Pharma presently has an average rating of Hold and a consensus price target of $60.63.

Shares of XLRN traded up $0.71 on Monday, reaching $41.71. The company’s stock had a trading volume of 14,884 shares, compared to its average volume of 347,344. The company has a quick ratio of 19.26, a current ratio of 19.26 and a debt-to-equity ratio of 0.05. Acceleron Pharma has a twelve month low of $37.01 and a twelve month high of $59.59. The firm has a market cap of $2.17 billion, a PE ratio of -16.10 and a beta of 1.21. The company has a fifty day moving average of $40.39.

Acceleron Pharma (NASDAQ:XLRN) last posted its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.74) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.67) by ($0.07). Acceleron Pharma had a negative return on equity of 35.94% and a negative net margin of 965.39%. The business had revenue of $2.78 million during the quarter, compared to analyst estimates of $3.67 million. During the same quarter in the prior year, the company earned ($0.58) EPS. The company’s revenue was down 13.9% on a year-over-year basis. Equities research analysts forecast that Acceleron Pharma will post -2.44 EPS for the current fiscal year.

In other Acceleron Pharma news, Director Jean George sold 37,500 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $39.79, for a total value of $1,492,125.00. Following the completion of the sale, the director now directly owns 23,750 shares of the company’s stock, valued at approximately $945,012.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph S. Zakrzewski acquired 5,000 shares of Acceleron Pharma stock in a transaction on Friday, June 14th. The stock was purchased at an average cost of $38.05 per share, with a total value of $190,250.00. Following the completion of the transaction, the director now directly owns 12,750 shares in the company, valued at approximately $485,137.50. The disclosure for this purchase can be found here. Corporate insiders own 2.50% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Amundi Pioneer Asset Management Inc. grew its position in Acceleron Pharma by 984.1% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 39,026 shares of the biopharmaceutical company’s stock worth $1,818,000 after purchasing an additional 35,426 shares in the last quarter. FMR LLC grew its position in shares of Acceleron Pharma by 6.3% during the 1st quarter. FMR LLC now owns 7,363,953 shares of the biopharmaceutical company’s stock valued at $342,939,000 after acquiring an additional 435,414 shares during the period. Metropolitan Life Insurance Co NY grew its position in shares of Acceleron Pharma by 12.6% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 13,963 shares of the biopharmaceutical company’s stock valued at $650,000 after acquiring an additional 1,563 shares during the period. MetLife Investment Advisors LLC grew its position in shares of Acceleron Pharma by 10.9% during the 1st quarter. MetLife Investment Advisors LLC now owns 19,308 shares of the biopharmaceutical company’s stock valued at $899,000 after acquiring an additional 1,902 shares during the period. Finally, Marshall Wace North America L.P. grew its position in shares of Acceleron Pharma by 6,720.3% during the 1st quarter. Marshall Wace North America L.P. now owns 383,166 shares of the biopharmaceutical company’s stock valued at $17,844,000 after acquiring an additional 377,548 shares during the period. 92.54% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Acceleron Pharma (NASDAQ:XLRN)

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