Acceleron Pharma Inc. (NASDAQ:XLRN)‘s stock had its “hold” rating reiterated by equities researchers at Oppenheimer Holdings, Inc. in a research report issued on Wednesday.
XLRN has been the subject of several other research reports. Cann reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Acceleron Pharma in a report on Thursday, June 1st. CIBC downgraded shares of Acceleron Pharma from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 13th. Morgan Stanley reduced their price objective on shares of Acceleron Pharma from $51.00 to $42.00 and set an “overweight” rating for the company in a report on Tuesday, June 13th. FBR & Co set a $63.00 price objective on shares of Acceleron Pharma and gave the stock a “buy” rating in a report on Tuesday, June 13th. Finally, Instinet reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Acceleron Pharma in a report on Wednesday, June 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Acceleron Pharma has an average rating of “Buy” and a consensus price target of $42.81.
Shares of Acceleron Pharma (NASDAQ:XLRN) traded down 1.23% during trading on Wednesday, hitting $38.49. 324,527 shares of the stock were exchanged. Acceleron Pharma has a 12-month low of $23.07 and a 12-month high of $41.69. The stock has a 50-day moving average of $36.11 and a 200 day moving average of $31.05. The stock’s market cap is $1.49 billion.
Acceleron Pharma (NASDAQ:XLRN) last announced its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by ($0.12). Acceleron Pharma had a negative net margin of 724.22% and a negative return on equity of 44.67%. The firm had revenue of $3.10 million for the quarter, compared to analyst estimates of $3.69 million. During the same period last year, the firm posted ($0.59) EPS. The business’s revenue was down 3.1% compared to the same quarter last year. Equities analysts predict that Acceleron Pharma will post ($2.73) earnings per share for the current fiscal year.
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In other news, CFO Kevin F. Mclaughlin sold 34,400 shares of the company’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $32.00, for a total value of $1,100,800.00. Following the transaction, the chief financial officer now owns 80,950 shares in the company, valued at approximately $2,590,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Ravindra Kumar sold 937 shares of the company’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 transaction, the senior vice president now owns 96,264 shares in the company, valued at approximately $3,080,448. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,915 shares of company stock worth $4,160,901. Corporate insiders own 3.90% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of XLRN. BNP Paribas Arbitrage SA increased its holdings in shares of Acceleron Pharma by 969.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,627 shares of the biopharmaceutical company’s stock valued at $110,000 after purchasing an additional 3,288 shares during the period. NJ State Employees Deferred Compensation Plan acquired a new position in shares of Acceleron Pharma in the 2nd quarter valued at about $213,000. Bank of Montreal Can acquired a new position in shares of Acceleron Pharma in the 1st quarter valued at about $237,000. Parametric Portfolio Associates LLC acquired a new position in shares of Acceleron Pharma in the 1st quarter valued at about $241,000. Finally, Tudor Investment Corp ET AL increased its holdings in shares of Acceleron Pharma by 8.5% in the 1st quarter. Tudor Investment Corp ET AL now owns 9,105 shares of the biopharmaceutical company’s stock valued at $241,000 after purchasing an additional 716 shares during the period. Institutional investors own 88.07% of the company’s stock.
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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