Acceleron Pharma Inc (XLRN) Stake Lowered by Eagle Asset Management Inc.
Eagle Asset Management Inc. reduced its stake in Acceleron Pharma Inc (NASDAQ:XLRN) by 0.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 882,159 shares of the biopharmaceutical company’s stock after selling 6,252 shares during the quarter. Eagle Asset Management Inc. owned 1.91% of Acceleron Pharma worth $50,485,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of XLRN. Amalgamated Bank acquired a new position in shares of Acceleron Pharma in the 2nd quarter worth approximately $281,000. Parametrica Management Ltd acquired a new position in shares of Acceleron Pharma in the 2nd quarter worth approximately $274,000. Integrated Wealth Concepts LLC acquired a new position in shares of Acceleron Pharma in the 2nd quarter worth approximately $237,000. Wealthstreet Investment Advisors LLC lifted its holdings in shares of Acceleron Pharma by 70.3% in the 2nd quarter. Wealthstreet Investment Advisors LLC now owns 14,650 shares of the biopharmaceutical company’s stock worth $711,000 after acquiring an additional 6,050 shares during the last quarter. Finally, Dupont Capital Management Corp lifted its holdings in shares of Acceleron Pharma by 221.9% in the 2nd quarter. Dupont Capital Management Corp now owns 15,488 shares of the biopharmaceutical company’s stock worth $751,000 after acquiring an additional 10,677 shares during the last quarter. Hedge funds and other institutional investors own 88.38% of the company’s stock.
XLRN has been the topic of several recent analyst reports. BidaskClub upgraded shares of Acceleron Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, November 6th. HC Wainwright restated a “buy” rating and issued a $73.00 price objective on shares of Acceleron Pharma in a report on Friday, August 3rd. Morgan Stanley initiated coverage on shares of Acceleron Pharma in a report on Monday, September 10th. They issued an “equal weight” rating and a $55.00 price objective on the stock. Cann restated a “hold” rating on shares of Acceleron Pharma in a report on Wednesday, October 31st. Finally, Piper Jaffray Companies upgraded shares of Acceleron Pharma from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $52.00 to $75.00 in a report on Monday, September 17th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $56.30.
Acceleron Pharma stock opened at $52.23 on Monday. The company has a market cap of $2.41 billion, a price-to-earnings ratio of -19.49 and a beta of 1.49. Acceleron Pharma Inc has a 52-week low of $32.53 and a 52-week high of $59.59.
Acceleron Pharma (NASDAQ:XLRN) last released its earnings results on Tuesday, October 30th. The biopharmaceutical company reported ($0.63) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.66) by $0.03. The company had revenue of $3.30 million for the quarter, compared to analyst estimates of $4.37 million. Acceleron Pharma had a negative net margin of 807.36% and a negative return on equity of 32.69%. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.65) EPS. Equities analysts predict that Acceleron Pharma Inc will post -2.51 earnings per share for the current year.
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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.
Read More: Hedge Funds Explained
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