BidaskClub downgraded shares of Acceleron Pharma (NASDAQ:XLRN) from a strong-buy rating to a buy rating in a report issued on Tuesday.

Several other research firms also recently commented on XLRN. Piper Jaffray Companies raised shares of Acceleron Pharma from a neutral rating to an overweight rating and raised their price target for the stock from $52.00 to $75.00 in a research note on Monday, September 17th. Morgan Stanley began coverage on shares of Acceleron Pharma in a research note on Monday, September 10th. They issued an equal weight rating and a $55.00 price target on the stock. ValuEngine raised shares of Acceleron Pharma from a buy rating to a strong-buy rating in a research note on Friday, June 29th. Cann reaffirmed a hold rating on shares of Acceleron Pharma in a research note on Thursday, July 12th. Finally, HC Wainwright increased their target price on shares of Acceleron Pharma to $74.00 and gave the stock a buy rating in a report on Tuesday, July 10th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Acceleron Pharma has a consensus rating of Buy and a consensus price target of $56.30.

XLRN stock opened at $49.86 on Tuesday. The stock has a market capitalization of $2.63 billion, a P/E ratio of -18.63 and a beta of 1.38. Acceleron Pharma has a 12 month low of $32.53 and a 12 month high of $59.59.

Acceleron Pharma (NASDAQ:XLRN) last posted its quarterly earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($0.63) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.64) by $0.01. The company had revenue of $3.69 million for the quarter, compared to the consensus estimate of $3.37 million. Acceleron Pharma had a negative net margin of 795.94% and a negative return on equity of 30.78%. The firm’s revenue was up 20.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.77) EPS. As a group, analysts forecast that Acceleron Pharma will post -2.52 earnings per share for the current fiscal year.

In other Acceleron Pharma news, CFO Kevin F. Mclaughlin sold 12,500 shares of the stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $54.00, for a total transaction of $675,000.00. Following the transaction, the chief financial officer now directly owns 56,439 shares in the company, valued at approximately $3,047,706. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.00% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the business. Rhumbline Advisers grew its holdings in Acceleron Pharma by 3.4% during the 2nd quarter. Rhumbline Advisers now owns 38,122 shares of the biopharmaceutical company’s stock worth $1,850,000 after acquiring an additional 1,268 shares in the last quarter. Bank of Montreal Can grew its holdings in Acceleron Pharma by 214.6% during the 3rd quarter. Bank of Montreal Can now owns 1,891 shares of the biopharmaceutical company’s stock worth $108,000 after acquiring an additional 1,290 shares in the last quarter. Mackay Shields LLC grew its holdings in Acceleron Pharma by 8.7% during the 2nd quarter. Mackay Shields LLC now owns 17,483 shares of the biopharmaceutical company’s stock worth $848,000 after acquiring an additional 1,400 shares in the last quarter. State of Wisconsin Investment Board grew its holdings in Acceleron Pharma by 4.2% during the 2nd quarter. State of Wisconsin Investment Board now owns 39,400 shares of the biopharmaceutical company’s stock worth $1,912,000 after acquiring an additional 1,600 shares in the last quarter. Finally, Xact Kapitalforvaltning AB grew its holdings in Acceleron Pharma by 33.2% during the 1st quarter. Xact Kapitalforvaltning AB now owns 6,823 shares of the biopharmaceutical company’s stock worth $267,000 after acquiring an additional 1,700 shares in the last quarter. Institutional investors own 88.66% of the company’s stock.

Acceleron Pharma Company Profile

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.

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Analyst Recommendations for Acceleron Pharma (NASDAQ:XLRN)

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