Brokerages forecast that Acceleron Pharma Inc (NASDAQ:XLRN) will post sales of $3.79 million for the current quarter, Zacks reports. Three analysts have provided estimates for Acceleron Pharma’s earnings, with the highest sales estimate coming in at $5.62 million and the lowest estimate coming in at $2.50 million. Acceleron Pharma reported sales of $3.23 million in the same quarter last year, which indicates a positive year over year growth rate of 17.3%. The business is scheduled to issue its next quarterly earnings report on Tuesday, May 14th.
On average, analysts expect that Acceleron Pharma will report full year sales of $35.79 million for the current year, with estimates ranging from $17.50 million to $53.00 million. For the next financial year, analysts expect that the company will post sales of $92.12 million, with estimates ranging from $43.90 million to $120.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Acceleron Pharma.
Acceleron Pharma (NASDAQ:XLRN) last posted its earnings results on Wednesday, February 27th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.68) by ($0.07). The firm had revenue of $3.80 million during the quarter, compared to analyst estimates of $3.21 million. Acceleron Pharma had a negative net margin of 849.62% and a negative return on equity of 36.63%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the company posted ($0.62) EPS.
Several brokerages recently issued reports on XLRN. HC Wainwright reissued a “buy” rating and issued a $72.00 price target on shares of Acceleron Pharma in a report on Monday, December 3rd. reiterated a “hold” rating on shares of Acceleron Pharma in a research note on Wednesday, November 28th. BidaskClub upgraded shares of Acceleron Pharma from a “hold” rating to a “buy” rating in a research note on Wednesday, November 28th. Cowen initiated coverage on shares of Acceleron Pharma in a research note on Monday, February 25th. They set an “outperform” rating and a $78.00 price target on the stock. Finally, ValuEngine cut shares of Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 29th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $60.63.
In related news, CFO Kevin F. Mclaughlin sold 5,712 shares of the stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $42.80, for a total transaction of $244,473.60. Following the transaction, the chief financial officer now owns 42,527 shares of the company’s stock, valued at approximately $1,820,155.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Corp /De/ Celgene bought 706,206 shares of Acceleron Pharma stock in a transaction that occurred on Friday, January 18th. The shares were acquired at an average cost of $43.00 per share, for a total transaction of $30,366,858.00. Following the acquisition, the insider now owns 6,824,685 shares in the company, valued at approximately $293,461,455. The disclosure for this purchase can be found here. Insiders sold a total of 19,399 shares of company stock worth $832,460 in the last three months. Insiders own 3.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in XLRN. Clarfeld Financial Advisors LLC bought a new stake in Acceleron Pharma in the 4th quarter worth $44,000. Bank of Montreal Can grew its holdings in Acceleron Pharma by 214.6% in the 3rd quarter. Bank of Montreal Can now owns 1,891 shares of the biopharmaceutical company’s stock worth $108,000 after acquiring an additional 1,290 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Acceleron Pharma in the 4th quarter worth $113,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Acceleron Pharma by 17.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,602 shares of the biopharmaceutical company’s stock worth $113,000 after acquiring an additional 386 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new stake in Acceleron Pharma in the 3rd quarter worth $169,000. 85.36% of the stock is currently owned by institutional investors.
Shares of NASDAQ XLRN traded up $1.84 during mid-day trading on Thursday, hitting $47.07. The company had a trading volume of 321,480 shares, compared to its average volume of 541,925. The company has a market cap of $2.43 billion, a price-to-earnings ratio of -18.17 and a beta of 1.40. Acceleron Pharma has a 12 month low of $32.53 and a 12 month 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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