Bailard Inc. increased its stake in shares of Acceleron Pharma (NASDAQ:XLRN) by 31.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,500 shares of the biopharmaceutical company’s stock after buying an additional 2,500 shares during the quarter. Bailard Inc.’s holdings in Acceleron Pharma were worth $411,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Swiss National Bank lifted its position in shares of Acceleron Pharma by 8.2% during the 1st quarter. Swiss National Bank now owns 67,400 shares of the biopharmaceutical company’s stock worth $2,635,000 after buying an additional 5,100 shares during the period. Trexquant Investment LP bought a new position in shares of Acceleron Pharma during the 1st quarter worth approximately $324,000. Mackay Shields LLC bought a new position in shares of Acceleron Pharma during the 1st quarter worth approximately $629,000. DekaBank Deutsche Girozentrale lifted its position in shares of Acceleron Pharma by 1,526.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 307,330 shares of the biopharmaceutical company’s stock worth $12,133,000 after buying an additional 288,430 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Acceleron Pharma during the 1st quarter worth approximately $109,000. Institutional investors and hedge funds own 87.80% of the company’s stock.
Several equities analysts recently commented on the company. ValuEngine upgraded Acceleron Pharma from a “hold” rating to a “buy” rating in a research report on Friday, May 4th. HC Wainwright raised their target price on Acceleron Pharma to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, May 9th. Credit Suisse Group set a $55.00 price target on Acceleron Pharma and gave the company a “buy” rating in a report on Wednesday, May 9th. BidaskClub raised Acceleron Pharma from a “hold” rating to a “buy” rating in a report on Thursday, February 15th. Finally, Cann reaffirmed a “hold” rating on shares of Acceleron Pharma in a report on Tuesday, May 1st. Two analysts have rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $48.07.
In other news, Director Richard F. Pops sold 37,500 shares of Acceleron Pharma stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $41.42, for a total value of $1,553,250.00. Following the completion of the sale, the director now directly owns 68,750 shares of the company’s stock, valued at approximately $2,847,625. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John D. Quisel sold 1,204 shares of Acceleron Pharma stock in a transaction on Tuesday, April 3rd. The shares were 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. Insiders sold a total of 47,304 shares of company stock valued at $1,930,062 over the last three months. Insiders own 3.00% of the company’s stock.
XLRN stock opened at $35.44 on Tuesday. Acceleron Pharma has a fifty-two week low of $35.00 and a fifty-two week high of $36.11. The firm has a market cap of $1.63 billion, a P/E ratio of -13.22 and a beta of 1.45.
Acceleron Pharma (NASDAQ:XLRN) last released its earnings results on Tuesday, May 8th. The biopharmaceutical company reported ($0.58) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.64) by $0.06. The company had revenue of $3.23 million during the quarter, compared to analysts’ expectations of $3.77 million. Acceleron Pharma had a negative return on equity of 34.52% and a negative net margin of 839.98%. The business’s revenue for the quarter was down 12.9% on a year-over-year basis. During the same period last year, the firm earned ($0.66) EPS. equities analysts anticipate that Acceleron Pharma will post -2.38 earnings per share 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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