Acceleron Pharma Inc. (XLRN) PT Set at $51.00 by Credit Suisse Group
Acceleron Pharma Inc. (NASDAQ:XLRN) has been assigned a $51.00 price target by research analysts at Credit Suisse Group in a report released on Tuesday. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Credit Suisse Group’s price objective indicates a potential upside of 45.63% from the stock’s current price.
Several other brokerages have also recently weighed in on XLRN. Royal Bank Of Canada began coverage on shares of Acceleron Pharma in a research report on Thursday, September 14th. They set a “sector perform” rating and a $44.00 price target for the company. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Acceleron Pharma in a research report on Wednesday, September 20th. Barclays PLC increased their price target on shares of Acceleron Pharma from $42.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, September 20th. HC Wainwright began coverage on shares of Acceleron Pharma in a research report on Thursday, October 12th. They set a “buy” rating and a $57.00 price target for the company. Finally, Cann reissued a “hold” rating on shares of Acceleron Pharma in a research report on Tuesday, September 5th. 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. Acceleron Pharma has a consensus rating of “Buy” and a consensus target price of $44.88.
Shares of Acceleron Pharma (NASDAQ XLRN) opened at $35.02 on Tuesday. Acceleron Pharma has a 12-month low of $23.07 and a 12-month high of $41.69.
Acceleron Pharma (NASDAQ:XLRN) last announced its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.67) by $0.02. The business had revenue of $3.00 million during the quarter, compared to analysts’ expectations of $3.52 million. Acceleron Pharma had a negative net margin of 759.34% and a negative return on equity of 40.70%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.55) EPS. sell-side analysts forecast that Acceleron Pharma will post -2.67 earnings per share for the current year.
In related news, CFO Kevin F. Mclaughlin sold 16,000 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $38.41, for a total value of $614,560.00. Following the completion of the transaction, the chief financial officer now directly owns 50,810 shares in the company, valued at approximately $1,951,612.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 completion of the transaction, 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 sold 53,513 shares of company stock valued at $2,055,485. 3.90% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of XLRN. BlackRock Inc. increased its stake in shares of Acceleron Pharma by 4,559.6% in the 1st quarter. BlackRock Inc. now owns 3,674,593 shares of the biopharmaceutical company’s stock worth $97,266,000 after acquiring an additional 3,595,733 shares in the last quarter. Westfield Capital Management Co. LP grew its position in 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 valued at $51,127,000 after purchasing an additional 534,440 shares during the last quarter. Sectoral Asset Management Inc grew its position in Acceleron Pharma by 378.2% during the 2nd quarter. Sectoral Asset Management Inc now owns 604,499 shares of the biopharmaceutical company’s stock valued at $18,371,000 after purchasing an additional 478,099 shares during the last quarter. AXA purchased a new stake in Acceleron Pharma during the 2nd quarter valued at about $9,833,000. Finally, UBS Asset Management Americas Inc. purchased a new stake in Acceleron Pharma during the 2nd quarter valued at about $9,747,000. Institutional investors own 75.85% of the company’s stock.
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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