Acceleron Pharma Inc. (XLRN) PT Raised to $44.00 at Citigroup Inc.
Acceleron Pharma Inc. (NASDAQ:XLRN) had its target price lifted by Citigroup Inc. to $44.00 in a research note released on Friday, The Fly reports. They currently have a buy rating on the biopharmaceutical company’s stock.
Other equities analysts have also recently issued research reports about the company. FBR & Co reiterated a buy rating on shares of Acceleron Pharma in a report on Saturday, April 8th. CIBC cut Acceleron Pharma from an outperform rating to a market perform rating in a report on Tuesday, June 13th. Morgan Stanley reduced their target price on Acceleron Pharma from $51.00 to $42.00 and set an overweight rating on the stock in a report on Tuesday, June 13th. Oppenheimer Holdings, Inc. restated a market perform rating on shares of Acceleron Pharma in a report on Tuesday, June 13th. Finally, Cann restated a hold rating on shares of Acceleron Pharma in a report on Tuesday, June 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $42.27.
Shares of Acceleron Pharma (XLRN) traded up 7.44% during midday trading on Friday, reaching $35.69. 515,677 shares of the company’s stock traded hands. The firm’s market capitalization is $1.38 billion. The stock’s 50 day moving average price is $31.52 and its 200 day moving average price is $28.41. Acceleron Pharma has a 52-week low of $23.07 and a 52-week high of $41.69.
Acceleron Pharma (NASDAQ:XLRN) last posted its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by $0.12. The firm had revenue of $3.10 million during the quarter, compared to the consensus estimate of $3.69 million. Acceleron Pharma had a negative net margin of 724.22% and a negative return on equity of 43.02%. Acceleron Pharma’s revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.59) EPS. On average, equities research analysts anticipate that Acceleron Pharma will post ($2.51) EPS for the current fiscal year.
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In related news, EVP Matthew L. Sherman sold 16,000 shares of Acceleron Pharma stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $32.00, for a total value of $512,000.00. Following the sale, the executive vice president now owns 112,400 shares of the company’s stock, valued at approximately $3,596,800. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Ravindra Kumar sold 937 shares of Acceleron Pharma stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $32.00, for a total value of $29,984.00. Following the completion of the sale, the senior vice president now directly owns 96,264 shares in the company, valued at approximately $3,080,448. The disclosure for this sale can be found here. In the last three months, insiders sold 51,337 shares of company stock worth $1,642,784. 3.90% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Acceleron Pharma by 4,559.6% in the first quarter. BlackRock Inc. now owns 3,674,593 shares of the biopharmaceutical company’s stock worth $97,266,000 after buying an additional 3,595,733 shares in the last quarter. Vanguard Group Inc. increased its position in Acceleron Pharma by 9.1% in the first quarter. Vanguard Group Inc. now owns 1,912,335 shares of the biopharmaceutical company’s stock worth $50,619,000 after buying an additional 158,714 shares in the last quarter. Eagle Asset Management Inc. increased its position in Acceleron Pharma by 0.3% in the first quarter. Eagle Asset Management Inc. now owns 1,178,959 shares of the biopharmaceutical company’s stock worth $31,207,000 after buying an additional 4,100 shares in the last quarter. State Street Corp increased its position in Acceleron Pharma by 9.7% in the first quarter. State Street Corp now owns 1,034,625 shares of the biopharmaceutical company’s stock worth $27,395,000 after buying an additional 91,451 shares in the last quarter. Finally, Pictet Asset Management Ltd. increased its position in Acceleron Pharma by 2.4% in the second quarter. Pictet Asset Management Ltd. now owns 664,145 shares of the biopharmaceutical company’s stock worth $16,942,000 after buying an additional 15,612 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.
About Acceleron Pharma
Acceleron Pharma Inc is a clinical-stage biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapeutics to treat serious and rare diseases. Its research focuses on key natural regulators of cellular growth and repair, particularly the Transforming Growth Factor-Beta (TGF-beta), protein superfamily.
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