Acceleron Pharma Inc. (NASDAQ:XLRN)‘s stock had its “hold” rating reissued by equities researchers at Oppenheimer Holdings, Inc. in a research note issued to investors on Tuesday.
XLRN has been the subject of a number of other reports. ValuEngine downgraded Acceleron Pharma from a “hold” rating to a “sell” rating in a research note on Friday, October 6th. Barclays PLC upped their price objective on Acceleron Pharma from $42.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 20th. Cann restated a “hold” rating on shares of Acceleron Pharma in a research note on Tuesday, September 5th. HC Wainwright initiated coverage on Acceleron Pharma in a research note on Thursday, October 12th. They issued a “buy” rating and a $57.00 price target for the company. Finally, UBS AG reissued a “buy” rating and issued a $50.00 price target (up previously from $36.00) on shares of Acceleron Pharma in a research note on Tuesday, September 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $44.88.
Acceleron Pharma (NASDAQ:XLRN) opened at $34.12 on Tuesday. Acceleron Pharma has a 52-week low of $23.07 and a 52-week high of $41.69.
Acceleron Pharma (NASDAQ:XLRN) last announced its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.67) by $0.02. Acceleron Pharma had a negative return on equity of 40.70% and a negative net margin of 759.34%. The company had revenue of $3.00 million for the quarter, compared to analyst estimates of $3.52 million. During the same period in the prior year, the company posted ($0.55) EPS. Acceleron Pharma’s quarterly revenue was up .0% on a year-over-year basis. research analysts anticipate that Acceleron Pharma will post -2.67 EPS for the current year.
In related news, CFO Kevin F. Mclaughlin sold 16,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $38.41, for a total transaction of $614,560.00. Following the completion of the sale, the chief financial officer now owns 50,810 shares in the company, valued at approximately $1,951,612.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Corp /De/ Celgene bought 745,592 shares of the firm’s stock in a transaction that occurred on Monday, September 25th. The shares were acquired at an average price of $37.00 per share, with a total value of $27,586,904.00. Following the purchase, the insider now owns 6,118,479 shares in the company, valued at $226,383,723. The disclosure for this purchase can be found here. In the last three months, insiders have sold 53,513 shares of company stock worth $2,055,485. 3.90% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in XLRN. Quantbot Technologies LP lifted its position in shares of Acceleron Pharma by 416.3% in the 3rd quarter. Quantbot Technologies LP now owns 2,917 shares of the biopharmaceutical company’s stock worth $108,000 after acquiring an additional 2,352 shares during the period. BNP Paribas Arbitrage SA lifted its position in shares of Acceleron Pharma by 969.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,627 shares of the biopharmaceutical company’s stock worth $110,000 after acquiring an additional 3,288 shares during the period. Oppenheimer & Co. Inc. bought a new stake in shares of Acceleron Pharma in the 3rd quarter worth approximately $225,000. NJ State Employees Deferred Compensation Plan bought a new position in shares of Acceleron Pharma during the 2nd quarter worth approximately $213,000. Finally, Trexquant Investment LP bought a new position in shares of Acceleron Pharma during the 3rd quarter worth approximately $266,000. Institutional investors own 75.85% of the company’s stock.
About Acceleron Pharma
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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