Northern Trust Corp Has $21.98 Million Stake in Acceleron Pharma Inc (XLRN)

Northern Trust Corp increased its position in Acceleron Pharma Inc (NASDAQ:XLRN) by 3.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 453,058 shares of the biopharmaceutical company’s stock after buying an additional 15,661 shares during the period. Northern Trust Corp owned about 0.98% of Acceleron Pharma worth $21,982,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of XLRN. JPMorgan Chase & Co. grew its holdings in Acceleron Pharma by 63.9% in the first quarter. JPMorgan Chase & Co. now owns 90,642 shares of the biopharmaceutical company’s stock valued at $3,544,000 after purchasing an additional 35,343 shares during the period. Xact Kapitalforvaltning AB grew its holdings in Acceleron Pharma by 33.2% in the first quarter. Xact Kapitalforvaltning AB now owns 6,823 shares of the biopharmaceutical company’s stock valued at $267,000 after purchasing an additional 1,700 shares during the period. Brown Advisory Inc. grew its holdings in Acceleron Pharma by 6.1% in the first quarter. Brown Advisory Inc. now owns 504,677 shares of the biopharmaceutical company’s stock valued at $19,732,000 after purchasing an additional 28,806 shares during the period. Neville Rodie & Shaw Inc. purchased a new stake in Acceleron Pharma in the second quarter valued at approximately $2,085,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Acceleron Pharma in the second quarter valued at approximately $349,000. 88.28% of the stock is owned by institutional investors and hedge funds.

XLRN opened at $50.28 on Tuesday. Acceleron Pharma Inc has a 52-week low of $32.53 and a 52-week high of $59.59. The company has a market cap of $2.47 billion, a price-to-earnings ratio of -18.76 and a beta of 1.38.

Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings data on Thursday, August 2nd. The biopharmaceutical company reported ($0.63) earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $3.37 million. During the same period in the previous year, the firm earned ($0.77) earnings per share. Acceleron Pharma’s revenue for the quarter was up 20.5% on a year-over-year basis. As a group, sell-side analysts predict that Acceleron Pharma Inc will post -2.52 EPS for the current year.

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

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

Acceleron Pharma 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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Institutional Ownership by Quarter for Acceleron Pharma (NASDAQ:XLRN)

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