Acceleron Pharma Inc. (XLRN) Given Average Recommendation of “Buy” by Brokerages
Acceleron Pharma Inc. (NASDAQ:XLRN) has received an average recommendation of “Buy” from the twenty-one brokerages that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $44.69.
A number of research analysts have issued reports on XLRN shares. BidaskClub raised Acceleron Pharma from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Zacks Investment Research raised Acceleron Pharma from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Thursday, July 13th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $40.00 price target on shares of Acceleron Pharma in a report on Friday, July 28th. Citigroup Inc. lifted their price target on Acceleron Pharma to $44.00 and gave the company a “buy” rating in a report on Friday, August 4th. Finally, Credit Suisse Group set a $35.00 price target on Acceleron Pharma and gave the company a “buy” rating in a report on Saturday, August 5th.
In related news, CFO Kevin F. Mclaughlin sold 16,000 shares of Acceleron Pharma stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $38.41, for a total value of $614,560.00. Following the completion of the sale, the chief financial officer now directly owns 50,810 shares in the company, valued at $1,951,612.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP John D. Quisel sold 5,113 shares of Acceleron Pharma stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $38.42, for a total value of $196,441.46. Following the completion of the sale, the senior vice president now owns 57,918 shares of the company’s stock, valued at $2,225,209.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,578 shares of company stock valued at $2,518,117. Corporate insiders own 3.90% of the company’s stock.
A number of hedge funds have recently made changes to their positions in XLRN. BlackRock Inc. increased its position in Acceleron Pharma by 4,559.6% in the first quarter. BlackRock Inc. now owns 3,674,593 shares of the biopharmaceutical company’s stock worth $97,266,000 after purchasing an additional 3,595,733 shares during the period. Westfield Capital Management Co. LP increased its position in Acceleron Pharma by 46.6% in the second quarter. Westfield Capital Management Co. LP now owns 1,682,359 shares of the biopharmaceutical company’s stock worth $51,127,000 after purchasing an additional 534,440 shares during the period. Sectoral Asset Management Inc increased its position in Acceleron Pharma by 378.2% in the second quarter. Sectoral Asset Management Inc now owns 604,499 shares of the biopharmaceutical company’s stock worth $18,371,000 after purchasing an additional 478,099 shares during the period. AXA acquired a new stake in Acceleron Pharma in the second quarter worth about $9,833,000. Finally, UBS Asset Management Americas Inc. acquired a new stake in Acceleron Pharma in the second quarter worth about $9,747,000. Hedge funds and other institutional investors own 77.48% of the company’s stock.
Shares of Acceleron Pharma (NASDAQ XLRN) traded up $0.53 during midday trading on Monday, hitting $37.57. The company’s stock had a trading volume of 52,259 shares, compared to its average volume of 314,226. Acceleron Pharma has a 12 month low of $23.07 and a 12 month high of $41.69.
Acceleron Pharma Company Profile
Acceleron Pharma Inc is a clinical-stage biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapeutics to treat serious and rare diseases. Its research focuses on key natural regulators of cellular growth and repair, particularly the Transforming Growth Factor-Beta (TGF-beta), protein superfamily.
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