Shares of Acceleron Pharma Inc. (NASDAQ:XLRN) have been assigned an average recommendation of “Buy” from the twenty ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, six have given a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $46.00.
XLRN has been the topic of several research analyst reports. Credit Suisse Group set a $51.00 price target on Acceleron Pharma and gave the company a “buy” rating in a research report on Tuesday, November 14th. ValuEngine cut Acceleron Pharma from a “hold” rating to a “sell” rating in a research report on Friday, October 6th. Barclays lifted their price target on Acceleron Pharma from $42.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, September 20th. Cann restated a “hold” rating on shares of Acceleron Pharma in a report on Tuesday, September 5th. Finally, HC Wainwright initiated coverage on Acceleron Pharma in a report on Thursday, October 12th. They issued a “buy” rating and a $57.00 target price on the stock.
Shares of Acceleron Pharma (XLRN) traded up $0.73 during mid-day trading on Friday, hitting $35.85. The stock had a trading volume of 263,887 shares, compared to its average volume of 384,047. Acceleron Pharma has a one year low of $23.07 and a one year high of $40.35.
Acceleron Pharma (NASDAQ:XLRN) last issued its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.67) by $0.02. Acceleron Pharma had a negative return on equity of 40.70% and a negative net margin of 759.34%. The company had revenue of $3.00 million for the quarter, compared to analysts’ expectations of $3.52 million. During the same period last year, the firm earned ($0.55) EPS. The firm’s revenue for the quarter was up .0% on a year-over-year basis. sell-side analysts predict that Acceleron Pharma will post -2.67 earnings per share for the current year.
In other Acceleron Pharma news, major shareholder Corp /De/ Celgene bought 745,592 shares of the firm’s stock in a transaction dated Monday, September 25th. The stock was acquired at an average price of $37.00 per share, with a total value of $27,586,904.00. Following the completion of the transaction, the insider now directly owns 6,118,479 shares in the company, valued at approximately $226,383,723. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Matthew L. Sherman sold 18,400 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $38.41, for a total value of $706,744.00. Following the completion of the sale, the executive vice president now directly owns 79,750 shares of the company’s stock, valued at approximately $3,063,197.50. The disclosure for this sale can be found here. Insiders sold a total of 53,513 shares of company stock worth $2,055,485 over the last 90 days. Insiders own 3.90% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Acceleron Pharma by 9.0% in the second quarter. BlackRock Inc. now owns 4,005,228 shares of the biopharmaceutical company’s stock worth $121,719,000 after buying an additional 330,635 shares during the period. Vanguard Group Inc. boosted its position in shares of Acceleron Pharma by 6.1% in the second quarter. Vanguard Group Inc. now owns 2,029,040 shares of the biopharmaceutical company’s stock worth $61,663,000 after buying an additional 116,705 shares during the period. Westfield Capital Management Co. LP boosted its position in shares of Acceleron Pharma by 46.6% in the second quarter. Westfield Capital Management Co. LP now owns 1,682,359 shares of the biopharmaceutical company’s stock worth $51,127,000 after buying an additional 534,440 shares during the period. Perceptive Advisors LLC boosted its position in shares of Acceleron Pharma by 127.2% in the third quarter. Perceptive Advisors LLC now owns 1,616,259 shares of the biopharmaceutical company’s stock worth $60,319,000 after buying an additional 905,000 shares during the period. Finally, Eagle Asset Management Inc. boosted its position in shares of Acceleron Pharma by 6.6% in the second quarter. Eagle Asset Management Inc. now owns 1,256,642 shares of the biopharmaceutical company’s stock worth $38,189,000 after buying an additional 77,683 shares during the period. 85.84% 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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