HC Wainwright Initiates Coverage on Acceleron Pharma (NASDAQ:XLRN)

HC Wainwright started coverage on shares of Acceleron Pharma (NASDAQ:XLRN) in a research note published on Tuesday morning, TipRanks reports. The brokerage issued a buy rating and a $88.00 price target on the biopharmaceutical company’s stock.

A number of other brokerages have also recently issued reports on XLRN. Piper Jaffray Companies set a $71.00 price objective on Acceleron Pharma and gave the stock a buy rating in a report on Monday, October 21st. Morgan Stanley lowered their target price on Acceleron Pharma from $52.00 to $48.00 and set an equal weight rating on the stock in a research note on Friday, October 11th. Oppenheimer set a $58.00 target price on Acceleron Pharma and gave the stock a buy rating in a research note on Tuesday, September 17th. Leerink Swann dropped coverage on Acceleron Pharma in a report on Tuesday, September 17th. Finally, Credit Suisse Group set a $58.00 price target on Acceleron Pharma and gave the company a buy rating in a research note on Monday, August 26th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $59.25.

NASDAQ XLRN opened at $50.46 on Tuesday. The stock has a market cap of $2.67 billion, a PE ratio of -19.48 and a beta of 1.24. The company has a debt-to-equity ratio of 0.05, a quick ratio of 14.02 and a current ratio of 14.02. The firm has a 50-day moving average of $45.25 and a 200-day moving average of $42.91. Acceleron Pharma has a 52-week low of $37.01 and a 52-week high of $50.50.

Acceleron Pharma (NASDAQ:XLRN) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.86) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.83) by ($0.03). The company had revenue of $4.20 million during the quarter, compared to analyst estimates of $4.44 million. Acceleron Pharma had a negative net margin of 353.57% and a negative return on equity of 30.79%. The firm’s quarterly revenue was up 27.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.63) EPS. As a group, analysts predict that Acceleron Pharma will post -2.22 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the stock. Metropolitan Life Insurance Co NY grew its position in Acceleron Pharma by 2.3% during the third quarter. Metropolitan Life Insurance Co NY now owns 14,290 shares of the biopharmaceutical company’s stock worth $565,000 after buying an additional 327 shares in the last quarter. Millennium Management LLC lifted its position in shares of Acceleron Pharma by 200.5% during the 3rd quarter. Millennium Management LLC now owns 41,612 shares of the biopharmaceutical company’s stock valued at $1,644,000 after acquiring an additional 83,012 shares during the period. Man Group plc bought a new stake in shares of Acceleron Pharma during the 3rd quarter valued at $452,000. Granahan Investment Management Inc. MA raised its stake in Acceleron Pharma by 5.2% in the third quarter. Granahan Investment Management Inc. MA now owns 215,027 shares of the biopharmaceutical company’s stock valued at $8,496,000 after purchasing an additional 10,583 shares in the last quarter. Finally, Great Point Partners LLC raised its stake in Acceleron Pharma by 0.4% in the third quarter. Great Point Partners LLC now owns 1,454,700 shares of the biopharmaceutical company’s stock valued at $57,475,000 after purchasing an additional 5,400 shares in the last quarter. Institutional investors and hedge funds own 89.38% of the company’s stock.

About Acceleron Pharma

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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