Acceleron Pharma Inc (NASDAQ:XLRN) PT Set at $35.00 by Credit Suisse Group
Credit Suisse Group set a $35.00 target price on Acceleron Pharma Inc (NASDAQ:XLRN) in a research note published on Saturday morning. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
XLRN has been the topic of a number of other reports. JMP Securities restated an outperform rating and issued a $39.00 target price on shares of Acceleron Pharma in a report on Monday, May 1st. Oppenheimer Holdings, Inc. set a $40.00 target price on shares of Acceleron Pharma and gave the stock a buy rating in a report on Thursday, June 1st. Piper Jaffray Companies restated a buy rating and issued a $40.00 target price on shares of Acceleron Pharma in a report on Friday, July 28th. FBR & Co restated a buy rating on shares of Acceleron Pharma in a report on Thursday, May 18th. Finally, Morgan Stanley reduced their target price on shares of Acceleron Pharma from $51.00 to $42.00 and set an overweight rating on the stock in a report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Acceleron Pharma has a consensus rating of Buy and a consensus target price of $41.53.
Acceleron Pharma (XLRN) opened at 35.39 on Friday. The stock’s 50 day moving average price is $31.52 and its 200-day moving average price is $28.41. The company’s market capitalization is $1.37 billion. 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 earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.65) by $0.12. Acceleron Pharma had a negative return on equity of 59.97% and a negative net margin of 970.53%. The business had revenue of $3.10 million during the quarter, compared to the consensus estimate of $3.69 million. During the same quarter last year, the firm earned ($0.59) earnings per share. The business’s quarterly revenue was down 3.1% on a year-over-year basis. On average, equities research analysts predict that Acceleron Pharma will post ($2.57) earnings per share for the current fiscal year.
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In other Acceleron Pharma news, CFO Kevin F. Mclaughlin sold 34,400 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $32.00, for a total value of $1,100,800.00. Following the transaction, the chief financial officer now directly owns 80,950 shares in the company, valued at approximately $2,590,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Ravindra Kumar sold 937 shares of the company’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $32.00, for a total transaction of $29,984.00. Following the completion of the transaction, the senior vice president now owns 96,264 shares in the company, valued at $3,080,448. The disclosure for this sale can be found here. Insiders have sold a total of 51,337 shares of company stock worth $1,642,784 over the last quarter. 3.90% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of XLRN. Russell Investments Group Ltd. bought a new position in shares of Acceleron Pharma during the fourth quarter worth approximately $378,000. Norges Bank bought a new position in shares of Acceleron Pharma during the fourth quarter worth approximately $8,234,000. Teachers Advisors LLC increased its position in shares of Acceleron Pharma by 3.0% in the fourth quarter. Teachers Advisors LLC now owns 45,138 shares of the biopharmaceutical company’s stock worth $1,152,000 after buying an additional 1,296 shares in the last quarter. Highbridge Capital Management LLC bought a new position in shares of Acceleron Pharma during the fourth quarter worth approximately $462,000. Finally, Bank of Montreal Can bought a new position in shares of Acceleron Pharma during the first quarter worth approximately $237,000. Institutional investors and hedge funds own 83.65% of the company’s stock.
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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