Acceleron Pharma Inc (XLRN) Expected to Post Quarterly Sales of $3.45 Million

Brokerages expect Acceleron Pharma Inc (NASDAQ:XLRN) to post $3.45 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Acceleron Pharma’s earnings, with the lowest sales estimate coming in at $2.50 million and the highest estimate coming in at $4.31 million. Acceleron Pharma reported sales of $3.01 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 14.6%. The business is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, October 30th.

According to Zacks, analysts expect that Acceleron Pharma will report full year sales of $12.78 million for the current year, with estimates ranging from $6.90 million to $15.77 million. For the next year, analysts anticipate that the business will post sales of $54.59 million, with estimates ranging from $17.50 million to $96.05 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Acceleron Pharma.

Acceleron Pharma (NASDAQ:XLRN) last posted its quarterly earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.64) by $0.01. Acceleron Pharma had a negative net margin of 795.94% and a negative return on equity of 30.78%. The company had revenue of $3.69 million for the quarter, compared to analyst estimates of $3.37 million. During the same period in the prior year, the company earned ($0.77) earnings per share. The firm’s revenue was up 20.5% on a year-over-year basis.

XLRN has been the subject of a number of analyst reports. Piper Jaffray Companies downgraded shares of Acceleron Pharma from an “overweight” rating to a “neutral” rating and set a $32.00 price objective for the company. in a research report on Tuesday, July 10th. UBS Group upped their price objective on shares of Acceleron Pharma to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, July 10th. HC Wainwright upped their price objective on shares of Acceleron Pharma to $74.00 and gave the stock a “buy” rating in a research report on Tuesday, July 10th. Cann reiterated a “hold” rating on shares of Acceleron Pharma in a research report on Thursday, July 12th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $48.00 price objective on shares of Acceleron Pharma in a research report on Thursday, July 12th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $56.30.

In other Acceleron Pharma news, CFO Kevin F. Mclaughlin sold 12,500 shares of the company’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $54.00, for a total value of $675,000.00. Following the completion of the transaction, the chief financial officer now owns 56,439 shares in the company, valued at $3,047,706. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in XLRN. JPMorgan Chase & Co. raised its position in shares of Acceleron Pharma by 63.9% during the 1st quarter. JPMorgan Chase & Co. now owns 90,642 shares of the biopharmaceutical company’s stock worth $3,544,000 after purchasing an additional 35,343 shares during the last quarter. UBS Group AG raised its position in shares of Acceleron Pharma by 76.9% during the 1st quarter. UBS Group AG now owns 279,883 shares of the biopharmaceutical company’s stock worth $10,944,000 after purchasing an additional 121,682 shares during the last quarter. Xact Kapitalforvaltning AB raised its position in shares of Acceleron Pharma by 33.2% during the 1st quarter. Xact Kapitalforvaltning AB now owns 6,823 shares of the biopharmaceutical company’s stock worth $267,000 after purchasing an additional 1,700 shares during the last quarter. Brown Advisory Inc. raised its position in shares of Acceleron Pharma by 6.1% during the 1st quarter. Brown Advisory Inc. now owns 504,677 shares of the biopharmaceutical company’s stock worth $19,732,000 after purchasing an additional 28,806 shares during the last quarter. Finally, Neville Rodie & Shaw Inc. acquired a new position in shares of Acceleron Pharma during the 2nd quarter worth about $2,085,000. Hedge funds and other institutional investors own 88.28% of the company’s stock.

NASDAQ:XLRN opened at $50.28 on Thursday. Acceleron Pharma has a one year low of $32.53 and a one year high of $59.59. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of -18.76 and a beta of 1.38.

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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