SG Americas Securities LLC decreased its position in shares of Acceleron Pharma Inc (NASDAQ:XLRN) by 60.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 15,398 shares of the biopharmaceutical company’s stock after selling 23,790 shares during the quarter. SG Americas Securities LLC’s holdings in Acceleron Pharma were worth $717,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in XLRN. Clarfeld Financial Advisors LLC acquired a new position in shares of Acceleron Pharma in the fourth quarter valued at approximately $44,000. Quadrant Capital Group LLC acquired a new position in shares of Acceleron Pharma in the first quarter valued at approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings 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 purchasing an additional 386 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in shares of Acceleron Pharma in the fourth quarter valued at approximately $113,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Acceleron Pharma by 13.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,958 shares of the biopharmaceutical company’s stock valued at $138,000 after purchasing an additional 356 shares during the period. 85.05% of the stock is currently owned by institutional investors.
Acceleron Pharma stock opened at $41.76 on Friday. The company has a current ratio of 19.26, a quick ratio of 16.18 and a debt-to-equity ratio of 0.05. Acceleron Pharma Inc has a 1-year low of $32.53 and a 1-year high of $59.59. The company has a market capitalization of $2.21 billion, a P/E ratio of -16.12 and a beta of 1.31.
Acceleron Pharma (NASDAQ:XLRN) last posted its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.74) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.67) by ($0.07). Acceleron Pharma had a negative net margin of 965.39% and a negative return on equity of 35.94%. The business had revenue of $2.78 million during the quarter, compared to analysts’ expectations of $3.67 million. During the same quarter last year, the firm earned ($0.58) earnings per share. The firm’s quarterly revenue was down 13.9% compared to the same quarter last year. On average, equities analysts anticipate that Acceleron Pharma Inc will post -2.42 earnings per share for the current fiscal year.
In related news, CFO Kevin F. Mclaughlin sold 648 shares of Acceleron Pharma stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 42,279 shares in the company, valued at $2,030,237.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Kevin F. Mclaughlin sold 12,000 shares of Acceleron Pharma stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $44.62, for a total value of $535,440.00. Following the completion of the sale, the chief financial officer now owns 30,379 shares in the company, valued at $1,355,510.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,730 shares of company stock worth $1,060,959. Company insiders own 2.50% of the company’s stock.
A number of research firms have recently issued reports on XLRN. ValuEngine raised Acceleron Pharma from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 4th. BidaskClub lowered Acceleron Pharma from a “hold” rating to a “sell” rating in a report on Friday, April 5th. HC Wainwright reissued a “buy” rating and issued a $67.00 target price (down previously from $72.00) on shares of Acceleron Pharma in a report on Thursday, February 28th. Cowen began coverage on Acceleron Pharma in a report on Monday, February 25th. They issued an “outperform” rating and a $78.00 target price on the stock. Finally, Zacks Investment Research lowered Acceleron Pharma from a “buy” rating to a “hold” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $57.70.
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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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