Acceleron Pharma Inc. (XLRN) Rating Increased to Buy at Zacks Investment Research
Acceleron Pharma Inc. (NASDAQ:XLRN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The firm currently has a $37.00 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target points to a potential upside of 15.91% from the company’s current price.
According to Zacks, “Acceleron Pharma Inc. is a biopharmaceutical company which focuses on the discovery, development and commercialization of protein therapeutics for cancer and rare diseases. Acceleron Pharma Inc. is based in Cambridge, Massachusetts. “
A number of other analysts also recently issued reports on XLRN. BidaskClub raised Acceleron Pharma from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Credit Suisse Group reaffirmed a “buy” rating and set a $46.00 price target on shares of Acceleron Pharma in a report on Tuesday, July 4th. FBR & Co reaffirmed a “buy” rating on shares of Acceleron Pharma in a report on Saturday, April 8th. Cann reaffirmed a “hold” rating on shares of Acceleron Pharma in a report on Tuesday, June 13th. Finally, Instinet reaffirmed a “buy” rating and set a $58.00 price target on shares of Acceleron Pharma in a report on Wednesday, June 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $41.73.
Shares of Acceleron Pharma (XLRN) opened at 32.54 on Thursday. The firm has a 50-day moving average price of $28.88 and a 200-day moving average price of $27.66. The stock’s market capitalization is $1.26 billion. Acceleron Pharma has a 1-year low of $23.07 and a 1-year high of $41.69.
Acceleron Pharma (NASDAQ:XLRN) last released its earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.66) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.58) by $0.08. The company had revenue of $3.71 million for the quarter, compared to analyst estimates of $3.38 million. Acceleron Pharma had a negative return on equity of 38.57% and a negative net margin of 659.04%. The company’s revenue for the quarter was down 79.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.13 earnings per share. On average, equities research analysts forecast that Acceleron Pharma will post ($2.54) earnings per share for the current year.
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In other Acceleron Pharma news, EVP Matthew L. Sherman sold 16,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $32.00, for a total transaction of $512,000.00. Following the transaction, the executive vice president now owns 112,400 shares in the company, valued at approximately $3,596,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Ravindra Kumar sold 937 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $32.00, for a total value of $29,984.00. Following the transaction, the senior vice president now owns 96,264 shares in the company, valued at approximately $3,080,448. The disclosure for this sale can be found here. Insiders sold a total of 51,337 shares of company stock valued at $1,642,784 over the last three months. Company insiders own 3.90% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its stake in Acceleron Pharma by 6.3% in the first quarter. Goldman Sachs Group Inc. now owns 503,439 shares of the biopharmaceutical company’s stock worth $13,326,000 after buying an additional 29,634 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Acceleron Pharma during the first quarter worth $4,837,000. Platinum Investment Management Ltd. purchased a new stake in Acceleron Pharma during the first quarter worth $1,154,000. Tudor Investment Corp ET AL boosted its stake in Acceleron Pharma by 8.5% in the first quarter. Tudor Investment Corp ET AL now owns 9,105 shares of the biopharmaceutical company’s stock worth $241,000 after buying an additional 716 shares in the last quarter. Finally, Eventide Asset Management LLC boosted its stake in Acceleron Pharma by 52.5% in the first quarter. Eventide Asset Management LLC now owns 653,900 shares of the biopharmaceutical company’s stock worth $17,309,000 after buying an additional 225,000 shares in the last quarter. Institutional investors own 83.54% of the company’s stock.
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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