Piper Jaffray Companies reaffirmed their buy rating on shares of Acceleron Pharma Inc. (NASDAQ:XLRN) in a report issued on Friday, July 28th. Piper Jaffray Companies currently has a $40.00 price objective on the biopharmaceutical company’s stock.
Other analysts have also issued reports about the company. FBR & Co reaffirmed a buy rating on shares of Acceleron Pharma in a report on Saturday, April 8th. CIBC downgraded Acceleron Pharma from an outperform rating to a market perform rating in a research note on Tuesday, June 13th. Morgan Stanley dropped their price objective on Acceleron Pharma from $51.00 to $42.00 and set an overweight rating on the stock in a research note on Tuesday, June 13th. Oppenheimer Holdings, Inc. reiterated a market perform rating on shares of Acceleron Pharma in a research note on Tuesday, June 13th. Finally, Cann restated a hold rating on shares of Acceleron Pharma in a research report on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $41.53.
Shares of Acceleron Pharma (NASDAQ:XLRN) traded down 3.59% on Friday, hitting $34.38. The stock had a trading volume of 72,532 shares. The firm has a 50 day moving average price of $32.30 and a 200-day moving average price of $28.78. Acceleron Pharma has a 52 week low of $23.07 and a 52 week high of $41.69. The company’s market cap is $1.33 billion.
Acceleron Pharma (NASDAQ:XLRN) last issued its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.65) by $0.12. The company had revenue of $3.10 million for the quarter, compared to the consensus estimate of $3.69 million. Acceleron Pharma had a negative return on equity of 44.67% and a negative net margin of 724.22%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.59) earnings per share. Analysts anticipate that Acceleron Pharma will post ($2.73) EPS for the current year.
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In other Acceleron Pharma news, SVP Ravindra Kumar sold 937 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $32.00, for a total value of $29,984.00. Following the completion of the sale, the senior vice president now directly owns 96,264 shares in the company, valued at $3,080,448. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin F. Mclaughlin sold 34,400 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $32.00, for a total transaction of $1,100,800.00. Following the completion of the sale, the chief financial officer now owns 80,950 shares of the company’s stock, valued at $2,590,400. The disclosure for this sale can be found here. Insiders have sold 64,402 shares of company stock worth $2,105,416 over the last ninety days. Insiders own 3.90% of the company’s stock.
Hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA raised its stake in shares of Acceleron Pharma by 969.9% in the second quarter. BNP Paribas Arbitrage SA now owns 3,627 shares of the biopharmaceutical company’s stock valued at $110,000 after buying an additional 3,288 shares during the period. NJ State Employees Deferred Compensation Plan acquired a new position in Acceleron Pharma during the second quarter valued at about $213,000. Bank of Montreal Can acquired a new position in Acceleron Pharma during the first quarter valued at about $237,000. Parametric Portfolio Associates LLC acquired a new position in Acceleron Pharma during the first quarter valued at about $241,000. Finally, Tudor Investment Corp ET AL raised its position in Acceleron Pharma by 8.5% in the first quarter. Tudor Investment Corp ET AL now owns 9,105 shares of the biopharmaceutical company’s stock valued at $241,000 after buying an additional 716 shares during the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.
Acceleron Pharma Company Profile
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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