Acceleron Pharma Inc. (NASDAQ:XLRN) dropped 4.4% during trading on Tuesday . The stock traded as low as $32.50 and last traded at $32.90, with a volume of 90,366 shares. The stock had previously closed at $34.40.

XLRN has been the topic of several research reports. Morgan Stanley reissued an “overweight” rating on shares of Acceleron Pharma in a research note on Wednesday, June 29th. Zacks Investment Research raised shares of 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. FBR & Co reissued a “buy” rating and set a $63.00 price objective on shares of Acceleron Pharma in a research note on Monday, June 13th. Barclays PLC boosted their price objective on shares of Acceleron Pharma from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Monday, June 13th. Finally, Piper Jaffray Cos. reissued a “buy” rating on shares of Acceleron Pharma in a research note on Friday, June 10th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $48.29.

The stock’s market capitalization is $1.23 billion. The stock has a 50-day moving average of $34.00 and a 200 day moving average of $30.89.

Acceleron Pharma (NASDAQ:XLRN) last posted its quarterly earnings results on Thursday, May 5th. The biopharmaceutical company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business’s quarterly revenue was up 311.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.45) earnings per share. Equities analysts predict that Acceleron Pharma Inc. will post ($1.55) EPS for the current fiscal year.

In other news, COO Steven D. Ertel sold 28,304 shares of Acceleron Pharma stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $34.77, for a total transaction of $984,130.08. Following the completion of the transaction, the chief operating officer now directly owns 137,365 shares of the company’s stock, valued at approximately $4,776,181.05. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Kevin F. Mclaughlin sold 25,300 shares of Acceleron Pharma stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $34.66, for a total transaction of $876,898.00. Following the transaction, the chief financial officer now directly owns 82,900 shares of the company’s stock, valued at $2,873,314. The disclosure for this sale can be found here.

Other institutional investors have recently bought and sold shares of the company. Mutual of America Capital Management LLC raised its position 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 valued at $2,163,000 after buying an additional 260 shares during the period. California State Teachers Retirement System raised its position 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. Finally, Rhumbline Advisers raised its position 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.

Acceleron Pharma Inc is a United States-based clinical stage biopharmaceutical company. The Company focuses on discovering and developing therapies to treat a range of diseases. Its therapeutic candidate, luspatercept, is being evaluated in Phase III studies for the treatment of the hematologic diseases myelodysplastic syndromes (MDS) and beta-thalassemia.

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