A number of other brokerages have also recently issued reports on XLRN. BidaskClub upgraded Acceleron Pharma from a sell rating to a hold rating in a report on Wednesday, March 6th. HC Wainwright reiterated a buy rating and issued a $67.00 target price (down from $72.00) on shares of Acceleron Pharma in a report on Thursday, February 28th. Finally, Cowen began coverage on Acceleron Pharma in a report on Monday, February 25th. They issued an outperform rating and a $78.00 target price on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. Acceleron Pharma has a consensus rating of Buy and a consensus target price of $60.63.
Shares of XLRN opened at $39.69 on Thursday. Acceleron Pharma has a 12-month low of $32.53 and a 12-month high of $59.59. The firm has a market capitalization of $2.09 billion, a P/E ratio of -15.32 and a beta of 1.41.
Acceleron Pharma (NASDAQ:XLRN) last issued its earnings results on Wednesday, February 27th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.07). Acceleron Pharma had a negative return on equity of 36.63% and a negative net margin of 849.62%. The firm had revenue of $3.80 million during the quarter, compared to the consensus estimate of $3.21 million. During the same quarter in the prior year, the business earned ($0.62) earnings per share. Acceleron Pharma’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, analysts predict that Acceleron Pharma will post -2.21 earnings per share for the current year.
In other Acceleron Pharma news, CFO Kevin F. Mclaughlin sold 12,000 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $44.62, for a total transaction of $535,440.00. Following the transaction, the chief financial officer now directly owns 30,379 shares in the company, valued at approximately $1,355,510.98. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Habib J. Dable sold 7,460 shares of the firm’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $44.60, for a total value of $332,716.00. Following the transaction, the chief executive officer now owns 76,754 shares in the company, valued at $3,423,228.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,730 shares of company stock worth $1,060,959. Company insiders own 2.50% of the company’s stock.
A number of large investors have recently modified their holdings of the business. FMR LLC lifted its stake in Acceleron Pharma by 0.4% during the 4th quarter. FMR LLC now owns 6,928,539 shares of the biopharmaceutical company’s stock valued at $301,738,000 after acquiring an additional 28,170 shares in the last quarter. BlackRock Inc. raised its stake in shares of Acceleron Pharma by 1.9% during the 4th quarter. BlackRock Inc. now owns 4,428,894 shares of the biopharmaceutical company’s stock worth $192,880,000 after purchasing an additional 81,002 shares during the period. Vanguard Group Inc. raised its stake in shares of Acceleron Pharma by 33.0% during the 3rd quarter. Vanguard Group Inc. now owns 3,425,363 shares of the biopharmaceutical company’s stock worth $196,034,000 after purchasing an additional 849,608 shares during the period. Vanguard Group Inc raised its stake in shares of Acceleron Pharma by 33.0% during the 3rd quarter. Vanguard Group Inc now owns 3,425,363 shares of the biopharmaceutical company’s stock worth $196,034,000 after purchasing an additional 849,608 shares during the period. Finally, Westfield Capital Management Co. LP raised its stake in shares of Acceleron Pharma by 9.2% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,292,713 shares of the biopharmaceutical company’s stock worth $56,298,000 after purchasing an additional 108,405 shares during the period. Institutional investors and hedge funds own 86.13% 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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