Wall Street analysts expect that Acceleron Pharma Inc (NASDAQ:XLRN) will post sales of $3.49 million for the current quarter, according to Zacks Investment Research. Five 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 posted sales of $3.01 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 15.9%. The company is expected to issue its next earnings report on Tuesday, November 6th.

According to Zacks, analysts expect that Acceleron Pharma will report full-year sales of $14.02 million for the current fiscal year, with estimates ranging from $12.60 million to $15.77 million. For the next year, analysts anticipate that the business will post sales of $67.03 million per share, with estimates ranging from $17.50 million to $170.19 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Acceleron Pharma.

Acceleron Pharma (NASDAQ:XLRN) last released its earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($0.63) earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $3.69 million during the quarter, compared to analysts’ expectations of $3.37 million. During the same quarter last year, the company earned ($0.77) earnings per share. The firm’s revenue was up 20.5% on a year-over-year basis.

Several research firms recently weighed in on XLRN. BidaskClub upgraded shares of Acceleron Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, June 23rd. ValuEngine upgraded shares of Acceleron Pharma from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 29th. Piper Jaffray Companies increased their target price on shares of Acceleron Pharma to $55.00 and gave the company an “overweight” rating in a research note on Friday, June 29th. UBS Group increased their target price on shares of Acceleron Pharma to $62.00 and gave the company a “buy” rating in a research note on Tuesday, July 10th. Finally, MED restated a “positive” rating on shares of Acceleron Pharma in a research note on Friday, July 13th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $51.50.

Shares of NASDAQ XLRN traded down $0.04 during mid-day trading on Tuesday, hitting $51.05. The company had a trading volume of 140,965 shares, compared to its average volume of 261,709. Acceleron Pharma has a 12 month low of $32.53 and a 12 month high of $54.34. The stock has a market cap of $2.35 billion, a PE ratio of -19.05 and a beta of 1.39.

In other news, CFO Kevin F. Mclaughlin sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $54.00, for a total transaction 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 $3,047,706. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kevin F. Mclaughlin sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, June 29th. The stock was sold at an average price of $48.00, for a total transaction of $1,200,000.00. Following the sale, the chief financial officer now directly owns 68,939 shares of the company’s stock, valued at approximately $3,309,072. The disclosure for this sale can be found here. 3.90% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in shares of Acceleron Pharma by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 171,104 shares of the biopharmaceutical company’s stock worth $8,302,000 after buying an additional 5,028 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of Acceleron Pharma by 241.4% during the second quarter. California Public Employees Retirement System now owns 72,714 shares of the biopharmaceutical company’s stock worth $3,528,000 after buying an additional 51,414 shares in the last quarter. Highland Capital Management LP acquired a new stake in shares of Acceleron Pharma during the second quarter worth approximately $291,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Acceleron Pharma during the second quarter worth approximately $259,000. Finally, Crawford Lake Capital Management LLC acquired a new stake in shares of Acceleron Pharma during the second quarter worth approximately $927,000. 88.67% of the stock is owned by institutional investors.

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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