Zacks: Brokerages Expect Acceleron Pharma Inc (XLRN) Will Announce Quarterly Sales of $27.14 Million

Equities research analysts forecast that Acceleron Pharma Inc (NASDAQ:XLRN) will report $27.14 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Acceleron Pharma’s earnings, with estimates ranging from $25.00 million to $28.40 million. Acceleron Pharma reported sales of $3.69 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 635.5%. The business is expected to announce its next earnings results on Thursday, August 1st.

On average, analysts expect that Acceleron Pharma will report full-year sales of $37.31 million for the current fiscal year, with estimates ranging from $27.80 million to $53.00 million. For the next year, analysts anticipate that the business will report sales of $100.06 million, with estimates ranging from $80.70 million to $115.80 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Acceleron Pharma.

Acceleron Pharma (NASDAQ:XLRN) last posted its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.07). The company had revenue of $2.78 million during the quarter, compared to analyst estimates of $3.67 million. Acceleron Pharma had a negative net margin of 965.39% and a negative return on equity of 35.94%. Acceleron Pharma’s revenue for the quarter was down 13.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.58) EPS.

Several research firms have issued reports on XLRN. BidaskClub cut Acceleron Pharma from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. ValuEngine cut Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 18th. Barclays cut Acceleron Pharma from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $54.00 to $45.00 in a research note on Friday, May 3rd. HC Wainwright raised their target price on Acceleron Pharma from $66.00 to $69.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Finally, Zacks Investment Research cut Acceleron Pharma from a “buy” rating to a “hold” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. Acceleron Pharma currently has a consensus rating of “Buy” and a consensus price target of $57.70.

In other news, CEO Habib J. Dable sold 7,460 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $44.60, for a total transaction of $332,716.00. Following the completion of the transaction, the chief executive officer now directly owns 76,754 shares in the company, valued at $3,423,228.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kevin F. Mclaughlin sold 648 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $48.02, for a total value of $31,116.96. Following the transaction, the chief financial officer now owns 42,279 shares of the company’s stock, valued at $2,030,237.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,730 shares of company stock valued at $1,060,959. Company insiders own 2.50% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in XLRN. Bank of New York Mellon Corp boosted its position in Acceleron Pharma by 10.7% in the third quarter. Bank of New York Mellon Corp now owns 189,390 shares of the biopharmaceutical company’s stock worth $10,839,000 after purchasing an additional 18,286 shares during the last quarter. Man Group plc bought a new stake in Acceleron Pharma during the 3rd quarter valued at approximately $406,000. Teachers Advisors LLC raised its stake in Acceleron Pharma by 4.2% during the 3rd quarter. Teachers Advisors LLC now owns 86,281 shares of the biopharmaceutical company’s stock valued at $4,938,000 after purchasing an additional 3,460 shares during the period. TIAA CREF Investment Management LLC raised its stake in Acceleron Pharma by 17.5% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 120,784 shares of the biopharmaceutical company’s stock valued at $6,912,000 after purchasing an additional 17,986 shares during the period. Finally, Vanguard Group Inc. raised its stake in Acceleron Pharma by 33.0% during the 3rd quarter. Vanguard Group Inc. now owns 3,425,363 shares of the biopharmaceutical company’s stock valued at $196,034,000 after purchasing an additional 849,608 shares during the period. Institutional investors and hedge funds own 85.05% of the company’s stock.

XLRN stock opened at $41.01 on Tuesday. The company has a quick ratio of 16.18, a current ratio of 19.26 and a debt-to-equity ratio of 0.05. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of -15.83 and a beta of 1.31. Acceleron Pharma has a 52-week low of $32.53 and a 52-week high of $59.59.

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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