Wall Street brokerages expect that Acceleron Pharma Inc (NASDAQ:XLRN) will report sales of $3.45 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Acceleron Pharma’s earnings, with estimates ranging from $2.50 million to $4.31 million. Acceleron Pharma posted sales of $3.01 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 14.6%. The firm is scheduled to report its next quarterly earnings report on Tuesday, November 6th.

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 fiscal 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 calculations are a mean average based on a survey of research firms that that provide coverage for Acceleron Pharma.

Acceleron Pharma (NASDAQ:XLRN) last issued its earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($0.63) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.01. Acceleron Pharma had a negative return on equity of 30.78% and a negative net margin of 795.94%. The company had revenue of $3.69 million for the quarter, compared to analysts’ expectations of $3.37 million. During the same period last year, the business earned ($0.77) EPS. Acceleron Pharma’s quarterly revenue was up 20.5% compared to the same quarter last year.

A number of equities analysts recently issued reports on XLRN shares. ValuEngine upgraded Acceleron Pharma from a “buy” rating to a “strong-buy” rating in a report on Friday, June 29th. Cann reiterated a “hold” rating on shares of Acceleron Pharma in a report on Thursday, July 12th. Piper Jaffray Companies increased their target price on Acceleron Pharma to $55.00 and gave the stock an “overweight” rating in a report on Friday, June 29th. HC Wainwright reiterated a “buy” rating and issued a $73.00 target price on shares of Acceleron Pharma in a report on Friday, August 3rd. Finally, BidaskClub upgraded Acceleron Pharma from a “buy” rating to a “strong-buy” rating in a report on Saturday. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Acceleron Pharma currently has a consensus rating of “Buy” and a consensus price target of $56.30.

In other Acceleron Pharma news, CFO Kevin F. Mclaughlin sold 12,500 shares of the firm’s stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $54.00, for a total transaction of $675,000.00. Following the transaction, the chief financial officer now directly owns 56,439 shares in the company, valued at approximately $3,047,706. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kevin F. Mclaughlin sold 25,000 shares of the firm’s stock in a transaction on Friday, June 29th. The shares were sold at an average price of $48.00, for a total value of $1,200,000.00. Following the transaction, the chief financial officer now owns 68,939 shares in the company, valued at $3,309,072. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in Acceleron Pharma during the 1st quarter valued at $109,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Acceleron Pharma during the 2nd quarter valued at $237,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Acceleron Pharma during the 2nd quarter valued at $259,000. Xact Kapitalforvaltning AB increased its position in shares of Acceleron Pharma by 33.2% during the 1st quarter. Xact Kapitalforvaltning AB now owns 6,823 shares of the biopharmaceutical company’s stock valued at $267,000 after purchasing an additional 1,700 shares during the last quarter. Finally, Parametrica Management Ltd purchased a new stake in shares of Acceleron Pharma during the 2nd quarter valued at $274,000. Institutional investors and hedge funds own 88.66% of the company’s stock.

Shares of XLRN traded down $1.63 during trading hours on Friday, reaching $56.71. The stock had a trading volume of 185,100 shares, compared to its average volume of 371,674. 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 $2.67 billion, a P/E ratio of -21.37 and a beta of 1.39.

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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