Xact Kapitalforvaltning AB acquired a new stake in Acceleron Pharma (NASDAQ:XLRN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,123 shares of the biopharmaceutical company’s stock, valued at approximately $217,000.
Several other hedge funds have also recently made changes to their positions in the company. California Public Employees Retirement System increased its holdings in shares of Acceleron Pharma by 6.7% in the fourth quarter. California Public Employees Retirement System now owns 22,300 shares of the biopharmaceutical company’s stock valued at $946,000 after purchasing an additional 1,400 shares during the period. American International Group Inc. increased its holdings in shares of Acceleron Pharma by 8.1% in the third quarter. American International Group Inc. now owns 21,487 shares of the biopharmaceutical company’s stock valued at $802,000 after purchasing an additional 1,607 shares during the period. TIAA CREF Investment Management LLC increased its holdings in shares of Acceleron Pharma by 3.8% in the fourth quarter. TIAA CREF Investment Management LLC now owns 87,027 shares of the biopharmaceutical company’s stock valued at $3,693,000 after purchasing an additional 3,178 shares during the period. Public Employees Retirement Association of Colorado acquired a new position in shares of Acceleron Pharma in the fourth quarter valued at about $138,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Acceleron Pharma by 17.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 28,990 shares of the biopharmaceutical company’s stock valued at $1,231,000 after purchasing an additional 4,381 shares during the period. 88.23% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently weighed in on XLRN shares. Cann reissued a “hold” rating on shares of Acceleron Pharma in a report on Monday, January 8th. Credit Suisse Group reissued an “outperform” rating and issued a $55.00 price objective on shares of Acceleron Pharma in a report on Thursday, January 18th. JPMorgan Chase raised Acceleron Pharma from a “neutral” rating to an “overweight” rating and set a $33.00 price objective on the stock in a report on Monday, February 26th. BidaskClub raised Acceleron Pharma from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. Finally, Citigroup increased their price objective on Acceleron Pharma from $44.00 to $63.00 and gave the company a “positive” rating in a report on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $47.06.
Acceleron Pharma stock opened at $37.96 on Wednesday. The stock has a market cap of $1,700.04, a P/E ratio of -14.16 and a beta of 1.43. Acceleron Pharma has a 52 week low of $24.37 and a 52 week high of $46.93.
Acceleron Pharma (NASDAQ:XLRN) last posted its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.02). The company had revenue of $3.71 million for the quarter, compared to analyst estimates of $3.39 million. Acceleron Pharma had a negative return on equity of 38.71% and a negative net margin of 804.49%. analysts predict that Acceleron Pharma will post -2.5 EPS for the current year.
In related news, EVP Matthew L. Sherman sold 4,600 shares of the firm’s stock in a transaction dated Tuesday, April 3rd. The stock was sold at an average price of $38.43, for a total transaction of $176,778.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP John D. Quisel sold 1,204 shares of the stock in a transaction that occurred on Tuesday, April 3rd. The stock was sold at an average price of $38.40, for a total value of $46,233.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,304 shares of company stock worth $1,930,062. 3.90% of the stock is owned by corporate insiders.
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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