A number of other research firms have also recently commented on XLRN. Leerink Swann dropped coverage on Acceleron Pharma in a report on Tuesday, September 17th. HC Wainwright reiterated a buy rating and issued a $68.00 price objective on shares of Acceleron Pharma in a report on Tuesday, September 17th. Citigroup decreased their price objective on Acceleron Pharma from $61.00 to $52.00 and set a buy rating on the stock in a report on Tuesday, September 17th. Credit Suisse Group set a $58.00 price objective on Acceleron Pharma and gave the company a buy rating in a report on Monday, August 26th. Finally, ValuEngine upgraded Acceleron Pharma from a buy rating to a strong-buy rating in a report on Thursday, August 8th. Six investment 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 company. Acceleron Pharma has an average rating of Buy and an average price target of $57.83.
Shares of Acceleron Pharma stock traded down $1.10 on Friday, hitting $42.15. 194,217 shares of the company were exchanged, compared to its average volume of 308,813. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of -16.27 and a beta of 1.25. The company has a 50-day moving average price of $42.37 and a 200 day moving average price of $42.20. Acceleron Pharma has a 1-year low of $37.01 and a 1-year high of $59.08. The company has a quick ratio of 17.11, a current ratio of 17.11 and a debt-to-equity ratio of 0.05.
Acceleron Pharma (NASDAQ:XLRN) last issued its earnings results on Monday, August 5th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.10). The company had revenue of $27.67 million for the quarter, compared to analyst estimates of $28.72 million. Acceleron Pharma had a negative return on equity of 29.51% and a negative net margin of 318.84%. The company’s revenue for the quarter was up 649.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.63) earnings per share. Research analysts forecast that Acceleron Pharma will post -2.33 EPS for the current year.
In other Acceleron Pharma news, CFO Kevin F. Mclaughlin sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $45.30, for a total value of $362,400.00. Following the sale, the chief financial officer now owns 22,452 shares of the company’s stock, valued at $1,017,075.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Adam M. Veness sold 824 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $45.20, for a total value of $37,244.80. Following the completion of the sale, the vice president now directly owns 16,124 shares in the company, valued at approximately $728,804.80. The disclosure for this sale can be found here. Insiders sold 24,690 shares of company stock worth $1,116,546 over the last quarter. 2.50% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in XLRN. Tower Research Capital LLC TRC purchased a new stake in Acceleron Pharma in the second quarter valued at approximately $89,000. Bank of Montreal Can raised its position in Acceleron Pharma by 4,163.0% in the second quarter. Bank of Montreal Can now owns 3,922 shares of the biopharmaceutical company’s stock valued at $161,000 after purchasing an additional 3,830 shares during the period. Nisa Investment Advisors LLC raised its position in Acceleron Pharma by 1,947.6% in the third quarter. Nisa Investment Advisors LLC now owns 4,300 shares of the biopharmaceutical company’s stock valued at $170,000 after purchasing an additional 4,090 shares during the period. Aperio Group LLC purchased a new stake in shares of Acceleron Pharma during the second quarter worth $190,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Acceleron Pharma during the second quarter worth $234,000. 90.10% of the stock is currently owned by institutional investors.
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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