Acceleron Pharma (NASDAQ:XLRN) Upgraded at BidaskClub

BidaskClub upgraded shares of Acceleron Pharma (NASDAQ:XLRN) from a hold rating to a buy rating in a research note issued to investors on Wednesday, BidAskClub reports.

A number of other equities analysts also recently issued reports on XLRN. Piper Jaffray Companies set a $71.00 price target on shares of Acceleron Pharma and gave the stock a buy rating in a research note on Monday, October 21st. Citigroup decreased their price target on shares of Acceleron Pharma from $61.00 to $52.00 and set a buy rating for the company in a research note on Tuesday, September 17th. Cowen reissued a buy rating on shares of Acceleron Pharma in a research note on Wednesday, November 6th. JPMorgan Chase & Co. decreased their price target on shares of Acceleron Pharma from $61.00 to $58.00 and set an overweight rating for the company in a research note on Tuesday, August 6th. Finally, ValuEngine raised shares of Acceleron Pharma from a buy rating to a strong-buy rating in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Acceleron Pharma currently has an average rating of Buy and a consensus price target of $59.25.

NASDAQ:XLRN traded down $2.02 during midday trading on Wednesday, hitting $40.97. The company had a trading volume of 507,300 shares, compared to its average volume of 299,188. Acceleron Pharma has a 52-week low of $37.01 and a 52-week high of $56.91. The company has a market capitalization of $2.28 billion, a PE ratio of -15.82 and a beta of 1.23. The stock’s fifty day moving average price is $42.07 and its 200-day moving average price is $42.23. The company has a quick ratio of 14.02, a current ratio of 14.02 and a debt-to-equity ratio of 0.05.

Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.86) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.83) by ($0.03). Acceleron Pharma had a negative return on equity of 30.79% and a negative net margin of 353.57%. The company had revenue of $4.20 million during the quarter, compared to the consensus estimate of $4.44 million. During the same period in the previous year, the company earned ($0.63) earnings per share. Acceleron Pharma’s quarterly revenue was up 27.3% on a year-over-year basis. As a group, research analysts forecast that Acceleron Pharma will post -2.22 earnings per share for the current year.

In other Acceleron Pharma news, VP Adam M. Veness sold 824 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $45.20, for a total value of $37,244.80. Following the sale, the vice president now owns 16,124 shares in the company, valued at $728,804.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Ravindra Kumar sold 3,389 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $45.24, for a total transaction of $153,318.36. Following the completion of the sale, the senior vice president now owns 86,986 shares in the company, valued at approximately $3,935,246.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,422 shares of company stock worth $969,486. Corporate insiders own 2.50% of the company’s stock.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Acceleron Pharma by 2.6% during the second quarter. BlackRock Inc. now owns 4,921,880 shares of the biopharmaceutical company’s stock valued at $202,191,000 after buying an additional 124,369 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Acceleron Pharma by 1.9% during the second quarter. Vanguard Group Inc. now owns 4,086,713 shares of the biopharmaceutical company’s stock valued at $167,881,000 after buying an additional 75,465 shares during the last quarter. TimesSquare Capital Management LLC grew its holdings in shares of Acceleron Pharma by 14.4% during the third quarter. TimesSquare Capital Management LLC now owns 1,048,900 shares of the biopharmaceutical company’s stock valued at $41,442,000 after buying an additional 131,930 shares during the last quarter. Eagle Asset Management Inc. grew its holdings in shares of Acceleron Pharma by 1.2% during the third quarter. Eagle Asset Management Inc. now owns 919,358 shares of the biopharmaceutical company’s stock valued at $36,323,000 after buying an additional 11,028 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Acceleron Pharma by 55.9% during the second quarter. Point72 Asset Management L.P. now owns 775,768 shares of the biopharmaceutical company’s stock valued at $31,869,000 after buying an additional 278,068 shares during the last quarter. Hedge funds and other institutional investors own 90.69% of the company’s stock.

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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