Shares of Acceleron Pharma Inc. (NASDAQ:XLRN) shot up 4.4% during mid-day trading on Wednesday . The stock traded as high as $34.11 and last traded at $34.11, with a volume of 64,299 shares traded. The stock had previously closed at $32.67.

Several brokerages recently issued reports on XLRN. Barclays PLC began coverage on Acceleron Pharma in a report on Wednesday, April 27th. They set an “overweight” rating and a $40.00 price objective for the company. Piper Jaffray Cos. reiterated a “buy” rating on shares of Acceleron Pharma in a report on Friday, June 10th. Zacks Investment Research upgraded Acceleron Pharma from a “strong sell” rating to a “hold” rating and set a $35.00 price objective for the company in a report on Saturday, May 7th. Morgan Stanley reiterated an “overweight” rating on shares of Acceleron Pharma in a report on Wednesday, June 29th. Finally, Credit Suisse Group AG reiterated a “buy” rating on shares of Acceleron Pharma in a report on Sunday, July 10th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Acceleron Pharma has a consensus rating of “Buy” and an average price target of $48.29.

The firm’s 50-day moving average is $34.11 and its 200-day moving average is $30.92. The company’s market cap is $1.28 billion.

Acceleron Pharma (NASDAQ:XLRN) last posted its quarterly earnings data on Thursday, May 5th. The biopharmaceutical company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.40. During the same quarter in the previous year, the firm posted ($0.45) earnings per share. The business earned $18.20 million during the quarter, compared to the consensus estimate of $8.70 million. The company’s revenue for the quarter was up 311.8% on a year-over-year basis. Equities research analysts anticipate that Acceleron Pharma Inc. will post ($1.55) EPS for the current year.

In related news, EVP Matthew L. Sherman sold 26,000 shares of Acceleron Pharma stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $34.74, for a total transaction of $903,240.00. Following the sale, the executive vice president now directly owns 91,500 shares of the company’s stock, valued at $3,178,710. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO John L. Knopf sold 28,022 shares of Acceleron Pharma stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $34.72, for a total value of $972,923.84. Following the sale, the chief executive officer now directly owns 147,106 shares in the company, valued at $5,107,520.32. The disclosure for this sale can be found here.

A number of large investors have recently added to or reduced their stakes in XLRN. 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 worth $1,960,000 after buying an additional 642 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 worth $1,007,000 after buying an additional 1,475 shares during the period. TD Asset Management Inc. increased its stake in 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 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 worth $1,458,000 after buying an additional 2,619 shares during the period. Finally, Mutual of America Capital Management LLC increased its stake in 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 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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