Acceleron Pharma Inc (XLRN) CEO Sells $671,648.25 in Stock

Acceleron Pharma Inc (NASDAQ:XLRN) CEO Habib J. Dable sold 12,675 shares of the firm’s stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $52.99, for a total value of $671,648.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

XLRN traded up $1.02 during midday trading on Thursday, hitting $49.96. 472,200 shares of the company were exchanged, compared to its average volume of 372,031. The company has a market capitalization of $2.26 billion, a PE ratio of -18.64 and a beta of 1.53. Acceleron Pharma Inc has a 1-year low of $32.53 and a 1-year high of $59.59.

Acceleron Pharma (NASDAQ:XLRN) last announced its earnings results on Tuesday, October 30th. The biopharmaceutical company reported ($0.63) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.66) by $0.03. The firm had revenue of $3.30 million for the quarter, compared to the consensus estimate of $4.37 million. Acceleron Pharma had a negative return on equity of 32.69% and a negative net margin of 807.36%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.65) EPS. Equities research analysts forecast that Acceleron Pharma Inc will post -2.51 EPS for the current fiscal year.

Several equities research analysts recently weighed in on XLRN shares. HC Wainwright reissued a “buy” rating and set a $72.00 price objective on shares of Acceleron Pharma in a report on Monday. Piper Jaffray Companies raised Acceleron Pharma from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $52.00 to $75.00 in a report on Monday, September 17th. BidaskClub raised Acceleron Pharma from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 22nd. Morgan Stanley started coverage on Acceleron Pharma in a report on Monday, September 10th. They set an “equal weight” rating and a $55.00 price objective on the stock. Finally, Cann reissued a “hold” rating on shares of Acceleron Pharma in a report on Wednesday, October 31st. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $56.20.

A number of institutional investors and hedge funds have recently made changes to their positions in XLRN. Bank of Montreal Can lifted 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 buying an additional 1,290 shares during the period. Pacer Advisors Inc. acquired a new position in Acceleron Pharma during the 3rd quarter worth about $169,000. Cubist Systematic Strategies LLC acquired a new position in Acceleron Pharma during the 2nd quarter worth about $259,000. Highland Capital Management LP acquired a new position in Acceleron Pharma during the 2nd quarter worth about $291,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Acceleron Pharma by 36.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,980 shares of the biopharmaceutical company’s stock worth $343,000 after buying an additional 1,596 shares during the period. 95.78% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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Insider Buying and Selling by Quarter for Acceleron Pharma (NASDAQ:XLRN)

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