Acceleron Pharma Inc. (NASDAQ:XLRN) shares shot up 3.9% on Wednesday . The company traded as high as $34.49 and last traded at $34.03, with a volume of 199,905 shares trading hands. The stock had previously closed at $32.76.

A number of research firms recently weighed in on XLRN. Leerink Swann reaffirmed a “buy” rating on shares of Acceleron Pharma in a research report on Sunday, June 12th. Zacks Investment Research lowered Acceleron Pharma from a “buy” rating to a “hold” rating in a research report on Thursday, April 28th. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of Acceleron Pharma in a research report on Sunday, April 17th. Barclays PLC began coverage on Acceleron Pharma in a research report on Wednesday, April 27th. They set an “overweight” rating and a $40.00 price objective for the company. Finally, Piper Jaffray Cos. reaffirmed a “buy” rating on shares of Acceleron Pharma in a research report on Friday, June 10th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $48.14.

The firm’s market capitalization is $1.28 billion. The company has a 50 day moving average price of $34.56 and a 200-day moving average price of $31.93.

Acceleron Pharma (NASDAQ:XLRN) last announced its earnings results on Thursday, May 5th. The biopharmaceutical company reported $0.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.40. The business had revenue of $18.20 million for the quarter, compared to analysts’ expectations of $8.70 million. The firm’s quarterly revenue was up 311.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.45) EPS. On average, equities research analysts expect that Acceleron Pharma Inc. will post ($1.56) earnings per share for the current year.

In related news, COO Steven D. Ertel sold 32,270 shares of the business’s stock in a transaction that occurred on Thursday, April 7th. The stock was sold at an average price of $32.00, for a total value of $1,032,640.00. Following the completion of the sale, the chief operating officer now owns 131,098 shares in the company, valued at $4,195,136. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John L. Knopf sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of $33.07, for a total value of $3,307,000.00. Following the completion of the sale, the chief executive officer now owns 160,674 shares of the company’s stock, valued at approximately $5,313,489.18. The disclosure for this sale can be found here.

Other hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN raised its stake in shares of Acceleron Pharma by 272.9% in the fourth quarter. Wells Fargo & Company MN now owns 24,264 shares of the biopharmaceutical company’s stock worth $1,183,000 after buying an additional 17,758 shares during the last quarter. Mutual of America Capital Management LLC raised its stake in shares of Acceleron Pharma by 0.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 44,363 shares of the biopharmaceutical company’s stock worth $2,163,000 after buying an additional 260 shares during the last quarter. Brown Advisory Inc. raised its stake in shares of Acceleron Pharma by 6.1% in the fourth quarter. Brown Advisory Inc. now owns 283,353 shares of the biopharmaceutical company’s stock worth $13,817,000 after buying an additional 16,370 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Acceleron Pharma by 9.6% in the fourth quarter. ProShare Advisors LLC now owns 29,906 shares of the biopharmaceutical company’s stock worth $1,458,000 after buying an additional 2,619 shares during the last quarter. Finally, TD Asset Management Inc. raised its stake in shares of Acceleron Pharma by 0.8% in the fourth quarter. TD Asset Management Inc. now owns 63,100 shares of the biopharmaceutical company’s stock worth $3,077,000 after buying an additional 500 shares during the last quarter.

Acceleron Pharma Inc is a clinical-stage biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapeutic candidates that are based on the mechanisms that the human body uses to regulate the growth and repair of its cells and tissues. Its segment operates through discovery, development and commercialization of protein therapeutics for cancer and rare diseases.

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