Brokerages forecast that Acceleron Pharma Inc (NASDAQ:XLRN) will post sales of $3.45 million for the current quarter, Zacks reports. Four analysts have provided estimates for Acceleron Pharma’s earnings, with the highest sales estimate coming in at $4.31 million and the lowest estimate coming in at $2.50 million. Acceleron Pharma reported sales of $3.01 million in the same quarter last year, which indicates a positive year over year growth rate of 14.6%. The business is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, October 30th.

On average, analysts expect that Acceleron Pharma will report full year sales of $12.78 million for the current year, with estimates ranging from $6.90 million to $15.77 million. For the next financial year, analysts expect that the company will post sales of $54.59 million, with estimates ranging from $17.50 million to $96.05 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 quarterly earnings data on Thursday, August 2nd. The biopharmaceutical company reported ($0.63) earnings per share for the quarter, topping the consensus estimate of ($0.64) by $0.01. Acceleron Pharma had a negative net margin of 795.94% and a negative return on equity of 30.78%. The firm had revenue of $3.69 million for the quarter, compared to analysts’ expectations of $3.37 million. During the same period in the previous year, the company posted ($0.77) EPS. The company’s quarterly revenue was up 20.5% compared to the same quarter last year.

Several equities analysts have recently commented on the stock. MED restated a “positive” rating on shares of Acceleron Pharma in a report on Friday, July 13th. Piper Jaffray Companies cut shares of Acceleron Pharma from an “overweight” rating to a “neutral” rating and set a $32.00 price target on the stock. in a report on Tuesday, July 10th. UBS Group boosted their price target on shares of Acceleron Pharma to $62.00 and gave the company a “buy” rating in a report on Tuesday, July 10th. BidaskClub upgraded shares of Acceleron Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, August 28th. Finally, Cann restated a “hold” rating on shares of Acceleron Pharma in a report on Thursday, July 12th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Acceleron Pharma has an average rating of “Buy” and a consensus target price of $56.30.

In related news, CFO Kevin F. Mclaughlin sold 12,500 shares of Acceleron Pharma stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $54.00, for a total value of $675,000.00. Following the completion of the sale, the chief financial officer now owns 56,439 shares of the company’s stock, valued at approximately $3,047,706. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.90% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its stake in shares of Acceleron Pharma by 3.4% in the 2nd quarter. Rhumbline Advisers now owns 38,122 shares of the biopharmaceutical company’s stock valued at $1,850,000 after purchasing an additional 1,268 shares during the last quarter. Crawford Lake Capital Management LLC acquired a new stake in shares of Acceleron Pharma in the 2nd quarter valued at $927,000. Schwab Charles Investment Management Inc. lifted its stake in shares of Acceleron Pharma by 6.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 205,240 shares of the biopharmaceutical company’s stock valued at $9,959,000 after purchasing an additional 12,969 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Acceleron Pharma in the 2nd quarter valued at $59,835,000. Finally, BlackRock Inc. lifted its stake in shares of Acceleron Pharma by 4.3% in the 2nd quarter. BlackRock Inc. now owns 4,205,069 shares of the biopharmaceutical company’s stock valued at $204,030,000 after purchasing an additional 175,010 shares during the last quarter. 88.32% of the stock is owned by institutional investors and hedge funds.

Shares of Acceleron Pharma stock traded up $2.46 on Thursday, hitting $53.71. 431,419 shares of the company traded hands, compared to its average volume of 325,632. Acceleron Pharma has a 12-month low of $32.53 and a 12-month high of $59.59. The stock has a market cap of $2.47 billion, a P/E ratio of -20.04 and a beta of 1.38.

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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Earnings History and Estimates for Acceleron Pharma (NASDAQ:XLRN)

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