Zacks: Brokerages Expect Acceleron Pharma Inc (XLRN) Will Announce Quarterly Sales of $3.45 Million

Wall Street brokerages expect Acceleron Pharma Inc (NASDAQ:XLRN) to announce $3.45 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Acceleron Pharma’s earnings, with the highest sales estimate coming in at $4.31 million and the lowest estimate coming in at $2.50 million. Acceleron Pharma posted sales of $3.01 million in the same quarter last year, which suggests a positive year over year growth rate of 14.6%. The firm is expected to report its next quarterly earnings report on Tuesday, November 6th.

On average, analysts expect that Acceleron Pharma will report full year sales of $12.78 million for the current financial year, with estimates ranging from $6.90 million to $15.77 million. For the next financial year, analysts expect that the business will report sales of $54.59 million per share, with estimates ranging from $17.50 million to $96.05 million. Zacks’ sales averages are an average based on a survey of analysts that cover Acceleron Pharma.

Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($0.63) earnings per share 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 during the quarter, compared to analysts’ expectations of $3.37 million. During the same period last year, the firm posted ($0.77) EPS. The business’s revenue was up 20.5% on a year-over-year basis.

XLRN has been the subject of a number of recent analyst reports. BidaskClub cut Acceleron Pharma from a “sell” rating to a “strong sell” rating in a report on Saturday, June 2nd. HC Wainwright reaffirmed a “buy” rating and set a $73.00 price target on shares of Acceleron Pharma in a report on Friday, August 3rd. Morgan Stanley cut Acceleron Pharma from an “overweight” rating to an “equal weight” rating and set a $50.00 price target for the company. in a report on Friday, July 13th. Cann reaffirmed a “hold” rating on shares of Acceleron Pharma in a report on Thursday, July 12th. Finally, Piper Jaffray Companies cut Acceleron Pharma from an “overweight” rating to a “neutral” rating and set a $32.00 price target for the company. in a report on Tuesday, July 10th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $56.30.

In other Acceleron Pharma news, CFO Kevin F. Mclaughlin sold 25,000 shares of the stock in a transaction on 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 transaction, the chief financial officer now directly owns 68,939 shares in the company, valued at approximately $3,309,072. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin F. Mclaughlin sold 12,500 shares of the stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $54.00, for a total value of $675,000.00. Following the completion of the transaction, 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. 3.00% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of Acceleron Pharma in the 1st quarter worth $109,000. Integrated Wealth Concepts LLC bought a new position in shares of Acceleron Pharma in the 2nd quarter worth $237,000. Cubist Systematic Strategies LLC bought a new position in shares of Acceleron Pharma in the 2nd quarter worth $259,000. Parametrica Management Ltd bought a new position in shares of Acceleron Pharma in the 2nd quarter worth $274,000. Finally, Amalgamated Bank bought a new position in shares of Acceleron Pharma in the 2nd quarter worth $281,000. Institutional investors and hedge funds own 88.66% of the company’s stock.

XLRN stock traded up $1.44 during midday trading on Friday, reaching $58.10. 10,635 shares of the company’s stock traded hands, compared to its average volume of 379,575. Acceleron Pharma has a 1-year low of $32.53 and a 1-year high of $59.59. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of -21.72 and a beta of 1.38.

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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