UBS AG reissued their buy rating on shares of Acceleron Pharma Inc. (NASDAQ:XLRN) in a research note released on Tuesday, The Fly reports. They currently have a $50.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $36.00.
A number of other equities research analysts have also recently issued reports on XLRN. BidaskClub raised Acceleron Pharma from a buy rating to a strong-buy rating in a research report on Sunday, August 6th. Zacks Investment Research raised Acceleron Pharma from a hold rating to a buy rating and set a $37.00 target price for the company in a research report on Thursday, July 13th. Credit Suisse Group set a $35.00 target price on Acceleron Pharma and gave the stock a buy rating in a research report on Saturday, August 5th. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Acceleron Pharma in a research report on Tuesday, September 5th. Finally, Piper Jaffray Companies reaffirmed a buy rating and set a $40.00 target price on shares of Acceleron Pharma in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $42.33.
Acceleron Pharma (XLRN) opened at 39.91 on Tuesday. The firm’s market capitalization is $1.54 billion. The firm’s 50-day moving average is $35.71 and its 200-day moving average is $30.87. Acceleron Pharma has a 12 month low of $23.07 and a 12 month high of $41.69.
Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.12). Acceleron Pharma had a negative return on equity of 44.67% and a negative net margin of 724.22%. The firm had revenue of $3.10 million during the quarter, compared to analyst estimates of $3.69 million. During the same quarter in the prior year, the company posted ($0.59) EPS. The company’s quarterly revenue was down 3.1% on a year-over-year basis. On average, equities research analysts expect that Acceleron Pharma will post ($2.72) EPS for the current year.
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In other Acceleron Pharma news, SVP Ravindra Kumar sold 937 shares of the stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $32.00, for a total transaction of $29,984.00. Following the completion of the transaction, the senior vice president now directly owns 96,264 shares in the company, valued at $3,080,448. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin F. Mclaughlin sold 34,400 shares of the stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $32.00, for a total value of $1,100,800.00. Following the transaction, the chief financial officer now owns 80,950 shares of the company’s stock, valued at $2,590,400. The disclosure for this sale can be found here. Insiders have sold 117,915 shares of company stock valued at $4,160,901 over the last quarter. Corporate insiders own 3.90% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Acceleron Pharma by 9.0% during the second quarter. BlackRock Inc. now owns 4,005,228 shares of the biopharmaceutical company’s stock worth $121,719,000 after acquiring an additional 330,635 shares in the last quarter. Vanguard Group Inc. raised its stake in Acceleron Pharma by 6.1% during the second quarter. Vanguard Group Inc. now owns 2,029,040 shares of the biopharmaceutical company’s stock worth $61,663,000 after acquiring an additional 116,705 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in Acceleron Pharma by 46.6% during the second quarter. Westfield Capital Management Co. LP now owns 1,682,359 shares of the biopharmaceutical company’s stock worth $51,127,000 after acquiring an additional 534,440 shares in the last quarter. Eagle Asset Management Inc. raised its stake in Acceleron Pharma by 6.6% during the second quarter. Eagle Asset Management Inc. now owns 1,256,642 shares of the biopharmaceutical company’s stock worth $38,189,000 after acquiring an additional 77,683 shares in the last quarter. Finally, State Street Corp raised its stake in Acceleron Pharma by 9.4% during the second quarter. State Street Corp now owns 1,131,824 shares of the biopharmaceutical company’s stock worth $34,386,000 after acquiring an additional 97,199 shares in the last quarter. Hedge funds and other institutional investors own 88.07% 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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