Acceleron Pharma Inc. (NASDAQ:XLRN) shares traded down 3.8% during mid-day trading on Wednesday . The stock traded as low as $33.24 and last traded at $33.77, with a volume of 82,665 shares. The stock had previously closed at $35.10.

Several research analysts recently issued reports on the company. Barclays PLC assumed coverage on Acceleron Pharma in a research note on Wednesday, April 27th. They issued an “overweight” rating and a $40.00 price objective on the stock. Piper Jaffray Cos. reissued a “buy” rating on shares of Acceleron Pharma in a research note on Friday, June 10th. Zacks Investment Research raised Acceleron Pharma from a “strong sell” rating to a “hold” rating and set a $35.00 price objective on the stock in a research note on Saturday, May 7th. Morgan Stanley reissued an “overweight” rating on shares of Acceleron Pharma in a research note on Wednesday, June 29th. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of Acceleron Pharma in a research note on Sunday. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Acceleron Pharma has a consensus rating of “Buy” and an average target price of $48.14.

The firm’s market capitalization is $1.22 billion. The company’s 50 day moving average is $34.77 and its 200 day moving average is $31.55.

Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings results on Thursday, May 5th. The biopharmaceutical company reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.40. The firm 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% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.45) EPS. Equities research analysts expect that Acceleron Pharma Inc. will post ($1.55) earnings per share for the current year.

In other news, COO Steven D. Ertel sold 32,270 shares of Acceleron Pharma stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $34.56, for a total transaction of $1,115,251.20. Following the sale, the chief operating officer now owns 137,365 shares of the company’s stock, valued at approximately $4,747,334.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO John L. Knopf sold 100,000 shares of Acceleron Pharma stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of $33.07, for a total transaction of $3,307,000.00. Following the sale, the chief executive officer now directly owns 160,674 shares in the company, valued at approximately $5,313,489.18. The disclosure for this sale can be found here.

A number of hedge funds recently bought and sold shares of the stock. Wells Fargo & Company MN increased its stake in Acceleron Pharma by 272.9% in the fourth quarter. Wells Fargo & Company MN now owns 24,264 shares of the biopharmaceutical company’s stock valued at $1,183,000 after buying an additional 17,758 shares during the period. Brown Advisory Inc. increased its stake in Acceleron Pharma by 6.1% in the fourth quarter. Brown Advisory Inc. now owns 283,353 shares of the biopharmaceutical company’s stock valued at $13,817,000 after buying an additional 16,370 shares during the period. ProShare Advisors LLC increased its stake in Acceleron Pharma by 9.6% in the fourth quarter. ProShare Advisors LLC now owns 29,906 shares of the biopharmaceutical company’s stock valued at $1,458,000 after buying an additional 2,619 shares during the period. Rhumbline Advisers increased its stake in Acceleron Pharma by 7.7% in the fourth quarter. Rhumbline Advisers now owns 20,643 shares of the biopharmaceutical company’s stock valued at $1,007,000 after buying an additional 1,475 shares during the period. Finally, California State Teachers Retirement System increased its stake in Acceleron Pharma by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 40,191 shares of the biopharmaceutical company’s stock valued at $1,960,000 after buying an additional 642 shares during the period.

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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