Acceleron Pharma Inc (NASDAQ:XLRN) Receives Average Recommendation of “Buy” from Analysts

Acceleron Pharma Inc (NASDAQ:XLRN) has been assigned a consensus recommendation of “Buy” from the seventeen ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $61.10.

XLRN has been the subject of a number of research reports. Piper Jaffray Companies reiterated an “overweight” rating and set a $74.00 price objective (up from $71.00) on shares of Acceleron Pharma in a report on Friday, May 10th. Cowen initiated coverage on Acceleron Pharma in a report on Monday, February 25th. They set an “outperform” rating and a $78.00 price objective for the company. BidaskClub downgraded Acceleron Pharma from a “sell” rating to a “strong sell” rating in a report on Tuesday, April 16th. HC Wainwright reiterated a “buy” rating and set a $67.00 price objective (down from $72.00) on shares of Acceleron Pharma in a report on Thursday, February 28th. Finally, Oppenheimer reiterated an “outperform” rating on shares of Acceleron Pharma in a report on Monday, April 22nd.

In related news, CFO Kevin F. Mclaughlin sold 648 shares of the 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 completion of the transaction, the chief financial officer now directly owns 42,279 shares of the company’s stock, valued at $2,030,237.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Habib J. Dable sold 7,460 shares of the 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 of the company’s stock, valued at $3,423,228.40. The disclosure for this sale can be found here. Insiders have sold 23,730 shares of company stock valued at $1,060,959 over the last three months. Insiders own 2.50% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Clarfeld Financial Advisors LLC acquired a new stake in shares of Acceleron Pharma in the fourth quarter valued at approximately $44,000. Quadrant Capital Group LLC acquired a new stake in shares of Acceleron Pharma in the first quarter valued at approximately $46,000. Citizens Financial Group Inc RI acquired a new stake in shares of Acceleron Pharma in the first quarter valued at approximately $47,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Acceleron Pharma in the fourth quarter valued at approximately $113,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Acceleron Pharma by 17.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,602 shares of the biopharmaceutical company’s stock valued at $113,000 after buying an additional 386 shares during the last quarter. 92.54% of the stock is owned by institutional investors.

Shares of Acceleron Pharma stock traded up $1.18 during trading hours on Wednesday, hitting $38.70. The company’s stock had a trading volume of 305,257 shares, compared to its average volume of 412,049. Acceleron Pharma has a 12 month low of $32.53 and a 12 month high of $59.59. The company has a market capitalization of $1.98 billion, a P/E ratio of -14.94 and a beta of 1.28. The company has a debt-to-equity ratio of 0.05, a current ratio of 19.26 and a quick ratio of 19.26.

Acceleron Pharma (NASDAQ:XLRN) last posted its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.74) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.67) by ($0.07). The firm had revenue of $2.78 million for the quarter, compared to the consensus estimate of $3.67 million. Acceleron Pharma had a negative return on equity of 35.94% and a negative net margin of 965.39%. The firm’s quarterly revenue was down 13.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.58) earnings per share. On average, equities analysts anticipate that Acceleron Pharma will post -2.42 EPS for the current fiscal year.

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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Analyst Recommendations for Acceleron Pharma (NASDAQ:XLRN)

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