Acceleron Pharma (NASDAQ:XLRN) was upgraded by research analysts at BidaskClub from a "sell" rating to a "hold" rating in a note issued to investors on Wednesday, BidAskClub reports.
A number of other research firms have also recently commented on XLRN. Royal Bank of Canada boosted their price target on shares of Acceleron Pharma from $72.00 to $99.00 and gave the stock a "sector perform" rating in a research note on Thursday, June 25th. ValuEngine cut shares of Acceleron Pharma from a "buy" rating to a "hold" rating in a research note on Thursday, July 2nd. Credit Suisse Group upped their price objective on shares of Acceleron Pharma from $134.00 to $135.00 and gave the company an "outperform" rating in a research note on Friday, August 7th. Morgan Stanley upped their price objective on shares of Acceleron Pharma from $122.00 to $123.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. Finally, Raymond James began coverage on shares of Acceleron Pharma in a research note on Monday, August 24th. They issued a "strong-buy" rating and a $155.00 price objective for the company. Two research analysts have rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Acceleron Pharma currently has an average rating of "Buy" and a consensus price target of $120.57.
XLRN stock opened at $101.88 on Wednesday. Acceleron Pharma has a one year low of $37.60 and a one year high of $110.75. The stock has a market cap of $6.10 billion, a PE ratio of -39.34 and a beta of 0.71. The firm has a 50 day simple moving average of $96.55 and a two-hundred day simple moving average of $94.40.
Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.34) EPS for the quarter, topping the Zacks' consensus estimate of ($0.55) by $0.21. Acceleron Pharma had a negative net margin of 157.84% and a negative return on equity of 31.62%. The business had revenue of $39.75 million during the quarter, compared to analysts' expectations of $30.08 million. During the same quarter in the previous year, the company earned ($0.34) EPS. The business's quarterly revenue was up 43.7% compared to the same quarter last year. On average, sell-side analysts forecast that Acceleron Pharma will post -2.47 earnings per share for the current fiscal year.
In related news, major shareholder Corp /De/ Celgene sold 2,241 shares of the company's stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $102.28, for a total transaction of $229,209.48. Following the completion of the sale, the insider now directly owns 7,008,510 shares in the company, valued at approximately $716,830,402.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas A. Mccourt sold 23,272 shares of the company's stock in a transaction on Friday, September 11th. The shares were sold at an average price of $90.39, for a total transaction of $2,103,556.08. Following the sale, the director now owns 24,422 shares of the company's stock, valued at $2,207,504.58. The disclosure for this sale can be found here. Insiders have sold a total of 77,513 shares of company stock valued at $7,332,266 over the last quarter. 2.50% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of XLRN. Amundi Pioneer Asset Management Inc. raised its holdings in Acceleron Pharma by 984.1% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 39,026 shares of the biopharmaceutical company's stock valued at $1,818,000 after buying an additional 35,426 shares during the last quarter. Public Employees Retirement Association of Colorado raised its holdings in Acceleron Pharma by 120.4% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 7,154 shares of the biopharmaceutical company's stock worth $643,000 after purchasing an additional 3,908 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Acceleron Pharma by 3.8% in the 1st quarter. Victory Capital Management Inc. now owns 7,645 shares of the biopharmaceutical company's stock worth $687,000 after purchasing an additional 281 shares in the last quarter. Aperio Group LLC raised its holdings in Acceleron Pharma by 41.2% in the 1st quarter. Aperio Group LLC now owns 9,136 shares of the biopharmaceutical company's stock worth $821,000 after purchasing an additional 2,664 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in Acceleron Pharma by 2.2% in the 1st quarter. Rhumbline Advisers now owns 71,076 shares of the biopharmaceutical company's stock worth $6,388,000 after purchasing an additional 1,540 shares in the last quarter. Institutional investors own 79.78% 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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