Westfield Capital Management Co. LP Buys 534,440 Shares of Acceleron Pharma Inc. (XLRN)
Westfield Capital Management Co. LP boosted its stake in shares of Acceleron Pharma Inc. (NASDAQ:XLRN) by 46.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,682,359 shares of the biopharmaceutical company’s stock after buying an additional 534,440 shares during the quarter. Westfield Capital Management Co. LP owned approximately 4.36% of Acceleron Pharma worth $51,127,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. PNC Financial Services Group Inc. lifted its holdings in Acceleron Pharma by 57.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,460 shares of the biopharmaceutical company’s stock worth $258,000 after buying an additional 3,100 shares during the period. BlackRock Inc. lifted its holdings in Acceleron Pharma by 9.0% during the 2nd quarter. BlackRock Inc. now owns 4,005,228 shares of the biopharmaceutical company’s stock worth $121,719,000 after buying an additional 330,635 shares during the period. Nationwide Fund Advisors lifted its holdings in Acceleron Pharma by 8.8% during the 2nd quarter. Nationwide Fund Advisors now owns 24,737 shares of the biopharmaceutical company’s stock worth $752,000 after buying an additional 2,000 shares during the period. Teachers Advisors LLC lifted its holdings in Acceleron Pharma by 25.7% during the 2nd quarter. Teachers Advisors LLC now owns 57,916 shares of the biopharmaceutical company’s stock worth $1,760,000 after buying an additional 11,836 shares during the period. Finally, Oak Ridge Investments LLC lifted its holdings in Acceleron Pharma by 2.1% during the 2nd quarter. Oak Ridge Investments LLC now owns 127,589 shares of the biopharmaceutical company’s stock worth $3,877,000 after buying an additional 2,666 shares during the period. 88.07% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CFO Kevin F. Mclaughlin sold 34,400 shares of the stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $32.00, for a total transaction of $1,100,800.00. Following the completion of the sale, the chief financial officer now directly owns 80,950 shares in the company, valued at $2,590,400. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Christopher Rovaldi sold 14,000 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $38.41, for a total transaction of $537,740.00. Following the sale, the senior vice president now owns 28,232 shares of the company’s stock, valued at $1,084,391.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 117,915 shares of company stock valued at $4,160,901. 3.90% of the stock is currently owned by company insiders.
Several research analysts have commented on XLRN shares. Cann reaffirmed a “buy” rating and set a $40.00 target price on shares of Acceleron Pharma in a report on Thursday, June 1st. Piper Jaffray Companies lifted their target price on Acceleron Pharma from $32.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, June 26th. BidaskClub raised Acceleron Pharma from a “hold” rating to a “buy” rating in a report on Wednesday, June 21st. CIBC downgraded Acceleron Pharma from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 13th. Finally, Morgan Stanley cut 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. 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 assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $42.33.
Acceleron Pharma Inc. (NASDAQ XLRN) traded up 0.03% on Friday, hitting $39.91. The stock had a trading volume of 528,858 shares. The stock’s 50-day moving average is $35.71 and its 200-day moving average is $30.87. The company’s market cap is $1.54 billion. Acceleron Pharma Inc. 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 the Zacks’ consensus estimate of ($0.65) by ($0.12). The firm had revenue of $3.10 million for the quarter, compared to analysts’ expectations of $3.69 million. Acceleron Pharma had a negative return on equity of 44.67% and a negative net margin of 724.22%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.59) earnings per share. Analysts expect that Acceleron Pharma Inc. will post ($2.72) earnings per share for the current year.
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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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