Acceleron Pharma Inc. (XLRN) Shares Up 2%
Acceleron Pharma Inc. (NASDAQ:XLRN)’s share price shot up 2% on Monday . The company traded as high as $30.67 and last traded at $30.46, with a volume of 93,431 shares. The stock had previously closed at $29.85.
A number of brokerages recently weighed in on XLRN. FBR & Co reissued a “buy” rating and issued a $63.00 price target on shares of Acceleron Pharma in a research note on Monday, June 13th. Barclays PLC raised their price objective on Acceleron Pharma from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday, June 13th. Leerink Swann restated a “buy” rating on shares of Acceleron Pharma in a research report on Sunday, June 12th. Piper Jaffray Cos. restated a “buy” rating on shares of Acceleron Pharma in a research report on Friday, June 10th. Finally, Credit Suisse Group AG restated a “buy” rating on shares of Acceleron Pharma in a research report on Sunday, July 10th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Acceleron Pharma presently has a consensus rating of “Buy” and a consensus price target of $49.00.
The stock’s 50 day moving average is $32.39 and its 200 day moving average is $30.76. The stock’s market capitalization is $1.16 billion.
Acceleron Pharma (NASDAQ:XLRN) last issued its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by $0.09. The firm earned $3.20 million during the quarter, compared to analyst estimates of $3.77 million. The company’s revenue for the quarter was down 43.9% on a year-over-year basis. Equities research analysts anticipate that Acceleron Pharma Inc. will post ($1.62) earnings per share for the current year.
In related news, CEO John L. Knopf sold 100,000 shares of the company’s stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $33.87, for a total value of $3,387,000.00. Following the completion of the sale, the chief executive officer now owns 147,106 shares in the company, valued at $4,982,480.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin F. Mclaughlin sold 25,300 shares of the company’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $34.66, for a total value of $876,898.00. Following the completion of the sale, the chief financial officer now owns 82,900 shares of the company’s stock, valued at approximately $2,873,314. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Acceleron Pharma stock. Rhumbline Advisers increased its position in shares of Acceleron Pharma Inc. (NASDAQ:XLRN) by 7.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,643 shares of the biopharmaceutical company’s stock after buying an additional 1,475 shares during the period. Rhumbline Advisers owned approximately 0.06% of Acceleron Pharma worth $1,007,000 as of its most recent SEC filing.
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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