Acceleron Pharma Inc. (XLRN) Now Covered by Royal Bank Of Canada
Research analysts at Royal Bank Of Canada assumed coverage on shares of Acceleron Pharma Inc. (NASDAQ:XLRN) in a report issued on Thursday. The firm set a “sector perform” rating and a $44.00 price target on the biopharmaceutical company’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 10.25% from the company’s current price.
A number of other equities analysts have also recently issued reports on the stock. UBS AG reaffirmed a “buy” rating and issued a $50.00 price objective (up from $36.00) on shares of Acceleron Pharma in a research note on Tuesday. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Acceleron Pharma in a research note on Tuesday, September 5th. Cann reiterated a “hold” rating on shares of Acceleron Pharma in a research note on Tuesday, September 5th. ValuEngine upgraded shares of Acceleron Pharma from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Zacks Investment Research lowered shares of Acceleron Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $42.33.
Shares of Acceleron Pharma (NASDAQ:XLRN) opened at 39.91 on Thursday. The stock’s market capitalization is $1.54 billion. Acceleron Pharma has a 12 month low of $23.07 and a 12 month high of $41.69. The stock’s 50 day moving average price is $35.71 and its 200-day moving average price is $30.87.
Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.65) by ($0.12). Acceleron Pharma had a negative net margin of 724.22% and a negative return on equity of 44.67%. The company had revenue of $3.10 million for the quarter, compared to the consensus estimate of $3.69 million. During the same period last year, the company earned ($0.59) earnings per share. Acceleron Pharma’s revenue for the quarter was down 3.1% compared to the same quarter last year. Equities analysts forecast that Acceleron Pharma will post ($2.72) earnings per share for the current fiscal year.
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In related news, SVP Christopher Rovaldi sold 14,000 shares of Acceleron Pharma stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $38.41, for a total transaction of $537,740.00. Following the completion of the sale, the senior vice president now owns 28,232 shares of the company’s stock, valued at approximately $1,084,391.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin F. Mclaughlin sold 34,400 shares of Acceleron Pharma stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $32.00, for a total transaction of $1,100,800.00. Following the sale, the chief financial officer now directly owns 80,950 shares of the company’s stock, valued at approximately $2,590,400. The disclosure for this sale can be found here. In the last three months, insiders sold 117,915 shares of company stock valued at $4,160,901. Insiders own 3.90% of the company’s stock.
Several hedge funds have recently made changes to their positions in XLRN. BlackRock Inc. boosted its holdings in shares of Acceleron Pharma by 4,559.6% during the 1st 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 during the period. Westfield Capital Management Co. LP boosted its holdings in shares of Acceleron Pharma by 46.6% during the 2nd quarter. Westfield Capital Management Co. LP now owns 1,682,359 shares of the biopharmaceutical company’s stock worth $51,127,000 after buying an additional 534,440 shares during the period. Sectoral Asset Management Inc boosted its holdings in shares of Acceleron Pharma by 378.2% during the 2nd quarter. Sectoral Asset Management Inc now owns 604,499 shares of the biopharmaceutical company’s stock worth $18,371,000 after buying an additional 478,099 shares during the period. AXA bought a new stake in shares of Acceleron Pharma during the 2nd quarter worth about $9,833,000. Finally, UBS Asset Management Americas Inc. bought a new stake in shares of Acceleron Pharma during the 2nd quarter worth about $9,747,000. 88.07% of the stock is owned by institutional investors and hedge funds.
Acceleron Pharma Company Profile
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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