Morgan Stanley assumed coverage on shares of Acceleron Pharma (NASDAQ:XLRN) in a research report report published on Monday morning, MarketBeat reports. The firm issued an equal weight rating and a $55.00 target price on the biopharmaceutical company’s stock.

A number of other research firms have also recently commented on XLRN. BidaskClub upgraded Acceleron Pharma from a hold rating to a buy rating in a research report on Tuesday, August 28th. ValuEngine upgraded Acceleron Pharma from a buy rating to a strong-buy rating in a research report on Friday, June 29th. Cann restated a hold rating on shares of Acceleron Pharma in a research report on Thursday, July 12th. Piper Jaffray Companies cut Acceleron Pharma from an overweight rating to a neutral rating and set a $32.00 target price on the stock. in a research report on Tuesday, July 10th. Finally, HC Wainwright raised their target price on Acceleron Pharma to $74.00 and gave the company a buy rating in a research report on Tuesday, July 10th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Acceleron Pharma currently has a consensus rating of Buy and a consensus target price of $52.00.

NASDAQ:XLRN opened at $51.18 on Monday. Acceleron Pharma has a 52 week low of $32.53 and a 52 week high of $54.34. The stock has a market cap of $2.36 billion, a PE ratio of -19.10 and a beta of 1.39.

Acceleron Pharma (NASDAQ:XLRN) last posted its earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($0.63) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.64) by $0.01. Acceleron Pharma had a negative return on equity of 30.78% and a negative net margin of 795.94%. The firm had revenue of $3.69 million for the quarter, compared to analysts’ expectations of $3.37 million. During the same period last year, the firm earned ($0.77) EPS. The company’s quarterly revenue was up 20.5% on a year-over-year basis. analysts predict that Acceleron Pharma will post -2.51 earnings per share for the current fiscal year.

In related news, CFO Kevin F. Mclaughlin sold 25,000 shares of Acceleron Pharma stock in a transaction dated Friday, June 29th. The stock was sold at an average price of $48.00, for a total value of $1,200,000.00. Following the sale, the chief financial officer now directly owns 68,939 shares in the company, valued at approximately $3,309,072. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kevin F. Mclaughlin sold 12,500 shares of Acceleron Pharma stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $54.00, for a total value of $675,000.00. Following the completion of the sale, the chief financial officer now owns 56,439 shares in the company, valued at $3,047,706. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its holdings in Acceleron Pharma by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 171,104 shares of the biopharmaceutical company’s stock worth $8,302,000 after buying an additional 5,028 shares during the last quarter. California Public Employees Retirement System boosted its holdings in Acceleron Pharma by 241.4% in the 2nd quarter. California Public Employees Retirement System now owns 72,714 shares of the biopharmaceutical company’s stock worth $3,528,000 after buying an additional 51,414 shares during the last quarter. Highland Capital Management LP acquired a new stake in Acceleron Pharma in the 2nd quarter worth about $291,000. Cubist Systematic Strategies LLC acquired a new stake in Acceleron Pharma in the 2nd quarter worth about $259,000. Finally, Crawford Lake Capital Management LLC acquired a new stake in Acceleron Pharma in the 2nd quarter worth about $927,000. Institutional investors own 88.67% of the company’s stock.

About Acceleron Pharma

Acceleron Pharma Inc, a clinical stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics to treat serious and rare diseases. Its therapeutic candidates include luspatercept, which is in Phase III clinical trials for the treatment of myelodysplastic syndromes and beta-thalassemia; Phase II clinical trials for the treatment of patients with transfusion-dependent beta-thalassemia and myelofibrosis.

Read More: Diversification

Analyst Recommendations for Acceleron Pharma (NASDAQ:XLRN)

Receive News & Ratings for Acceleron Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acceleron Pharma and related companies with MarketBeat.com's FREE daily email newsletter.