Acceleron Pharma Inc. (XLRN) Receives New Coverage from Analysts at HC Wainwright
HC Wainwright began coverage on shares of Acceleron Pharma Inc. (NASDAQ:XLRN) in a research note issued to investors on Thursday. The brokerage issued a buy rating and a $57.00 price target on the biopharmaceutical company’s stock.
Other analysts also recently issued reports about the company. Cann restated a hold rating on shares of Acceleron Pharma in a report on Friday, June 23rd. Barclays PLC upped their price objective on Acceleron Pharma from $42.00 to $50.00 and gave the stock an overweight rating in a report on Wednesday, September 20th. ValuEngine downgraded Acceleron Pharma from a hold rating to a sell rating in a report on Friday, October 6th. BidaskClub upgraded Acceleron Pharma from a hold rating to a buy rating in a report on Wednesday, June 21st. Finally, UBS AG restated a buy rating and set a $50.00 price objective (up from $36.00) on shares of Acceleron Pharma in a report on Tuesday, September 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $43.65.
Acceleron Pharma (NASDAQ:XLRN) traded down 0.13% during midday trading on Thursday, reaching $38.83. The company’s stock had a trading volume of 190,662 shares. Acceleron Pharma has a 52 week low of $23.07 and a 52 week high of $41.69. The firm’s 50-day moving average price is $37.62 and its 200-day moving average price is $32.10. The stock’s market capitalization is $1.50 billion.
Acceleron Pharma (NASDAQ:XLRN) last issued its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.65) by ($0.12). The business had revenue of $3.10 million during the quarter, compared to analyst estimates of $3.69 million. Acceleron Pharma had a negative net margin of 724.22% and a negative return on equity of 44.67%. The company’s revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.59) earnings per share. On average, analysts anticipate that Acceleron Pharma will post ($2.68) earnings per share for the current year.
In related news, SVP John D. Quisel sold 5,113 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $38.42, for a total transaction of $196,441.46. Following the completion of the sale, the senior vice president now directly owns 57,918 shares of the company’s stock, valued at approximately $2,225,209.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Christopher Rovaldi sold 14,000 shares of the company’s stock in a transaction on 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 directly 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 ninety days, insiders have sold 66,578 shares of company stock valued at $2,518,117. 3.90% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA boosted its position in Acceleron Pharma by 969.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,627 shares of the biopharmaceutical company’s stock valued at $110,000 after buying an additional 3,288 shares during the last quarter. NJ State Employees Deferred Compensation Plan purchased a new position in Acceleron Pharma in the 2nd quarter valued at about $213,000. PNC Financial Services Group Inc. boosted its position in Acceleron Pharma by 57.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,460 shares of the biopharmaceutical company’s stock valued at $258,000 after buying an additional 3,100 shares during the last quarter. Parametric Portfolio Associates LLC purchased a new position in Acceleron Pharma in the 1st quarter valued at about $241,000. Finally, Tudor Investment Corp ET AL boosted its position in Acceleron Pharma by 8.5% in the 1st quarter. Tudor Investment Corp ET AL now owns 9,105 shares of the biopharmaceutical company’s stock valued at $241,000 after buying an additional 716 shares during the last quarter. 77.35% of the stock is owned by institutional investors.
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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