Acceleron Pharma (XLRN) Rating Reiterated by Cowen

Cowen reiterated their buy rating on shares of Acceleron Pharma (NASDAQ:XLRN) in a research report released on Sunday morning, AnalystRatings.com reports. They currently have a $78.00 target price on the biopharmaceutical company’s stock.

Several other analysts also recently weighed in on XLRN. BidaskClub upgraded Acceleron Pharma from a strong sell rating to a sell rating in a research report on Friday, May 10th. Piper Jaffray Companies reiterated an overweight rating and issued a $74.00 price objective (up previously from $71.00) on shares of Acceleron Pharma in a research report on Friday, May 10th. ValuEngine upgraded Acceleron Pharma from a buy rating to a strong-buy rating in a research report on Thursday, April 4th. Zacks Investment Research raised Acceleron Pharma from a hold rating to a buy rating and set a $46.00 target price on the stock in a research note on Friday, May 3rd. Finally, Barclays cut Acceleron Pharma from an overweight rating to an equal weight rating and reduced their target price for the company from $54.00 to $45.00 in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. Acceleron Pharma currently has a consensus rating of Buy and an average price target of $57.70.

Shares of XLRN stock opened at $42.11 on Friday. The company has a quick ratio of 16.18, a current ratio of 19.26 and a debt-to-equity ratio of 0.05. Acceleron Pharma has a fifty-two week low of $32.53 and a fifty-two week high of $59.59. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of -16.26 and a beta of 1.31.

Acceleron Pharma (NASDAQ:XLRN) last announced its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.74) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by ($0.07). Acceleron Pharma had a negative net margin of 965.39% and a negative return on equity of 35.94%. The company had revenue of $2.78 million during the quarter, compared to the consensus estimate of $3.67 million. During the same quarter in the previous year, the firm posted ($0.58) EPS. The business’s revenue for the quarter was down 13.9% compared to the same quarter last year. On average, equities analysts predict that Acceleron Pharma will post -2.31 EPS for the current year.

In other news, CFO Kevin F. Mclaughlin sold 648 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $48.02, for a total transaction of $31,116.96. Following the transaction, the chief financial officer now directly owns 42,279 shares of the company’s stock, valued at $2,030,237.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Habib J. Dable sold 7,460 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $44.60, for a total value of $332,716.00. Following the transaction, the chief executive officer now directly owns 76,754 shares in the company, valued at $3,423,228.40. The disclosure for this sale can be found here. Insiders have sold 23,730 shares of company stock worth $1,060,959 over the last three months. Insiders own 2.50% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. MetLife Investment Advisors LLC grew its stake in Acceleron Pharma by 10.9% in the first quarter. MetLife Investment Advisors LLC now owns 19,308 shares of the biopharmaceutical company’s stock worth $899,000 after purchasing an additional 1,902 shares during the period. Goldman Sachs Group Inc. grew its stake in Acceleron Pharma by 79.3% in the first quarter. Goldman Sachs Group Inc. now owns 460,941 shares of the biopharmaceutical company’s stock worth $21,466,000 after purchasing an additional 203,799 shares during the period. Hsbc Holdings PLC purchased a new stake in Acceleron Pharma in the first quarter worth $219,000. Wellington Management Group LLP purchased a new stake in Acceleron Pharma in the first quarter worth $68,379,000. Finally, Voya Investment Management LLC grew its stake in Acceleron Pharma by 1.6% in the first quarter. Voya Investment Management LLC now owns 16,831 shares of the biopharmaceutical company’s stock worth $784,000 after purchasing an additional 257 shares during the period. 85.05% of the stock is currently owned by institutional investors.

About Acceleron Pharma

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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Analyst Recommendations for Acceleron Pharma (NASDAQ:XLRN)

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