Acceleron Pharma Inc. (XLRN) Stake Boosted by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. increased its stake in Acceleron Pharma Inc. (NASDAQ:XLRN) by 5.9% during the first quarter, Holdings Channel reports. The firm owned 131,841 shares of the biopharmaceutical company’s stock after buying an additional 7,335 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Acceleron Pharma were worth $3,490,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in Acceleron Pharma during the fourth quarter valued at $8,234,000. Teachers Advisors LLC raised its position in Acceleron Pharma by 3.0% in the fourth quarter. Teachers Advisors LLC now owns 45,138 shares of the biopharmaceutical company’s stock valued at $1,152,000 after buying an additional 1,296 shares during the period. Bank of Montreal Can bought a new position in Acceleron Pharma during the first quarter valued at $237,000. Fox Run Management L.L.C. bought a new position in Acceleron Pharma during the first quarter valued at $500,000. Finally, Candriam Luxembourg S.C.A. raised its position in Acceleron Pharma by 20.5% in the first quarter. Candriam Luxembourg S.C.A. now owns 182,000 shares of the biopharmaceutical company’s stock valued at $4,818,000 after buying an additional 31,000 shares during the period. 83.41% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Acceleron Pharma Inc. (NASDAQ XLRN) traded down 0.64% on Friday, hitting $34.22. The stock had a trading volume of 87,619 shares. The company has a 50-day moving average of $32.69 and a 200 day moving average of $29.18. The company’s market capitalization is $1.32 billion. Acceleron Pharma Inc. has a 52 week low of $23.07 and a 52 week high of $41.69.
Acceleron Pharma (NASDAQ:XLRN) last posted its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.65) by $0.12. Acceleron Pharma had a negative return on equity of 44.67% and a negative net margin of 724.22%. The company had revenue of $3.10 million during the quarter, compared to the consensus estimate of $3.69 million. During the same period in the previous year, the business earned ($0.59) earnings per share. Acceleron Pharma’s revenue was down 3.1% on a year-over-year basis. On average, equities research analysts predict that Acceleron Pharma Inc. will post ($2.73) EPS for the current year.
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Several research analysts have weighed in on XLRN shares. JMP Securities reaffirmed an “outperform” rating and set a $39.00 price target on shares of Acceleron Pharma in a research report on Monday, May 1st. Zacks Investment Research lowered Acceleron Pharma from a “hold” rating to a “sell” rating in a research report on Thursday, May 11th. Goldman Sachs Group, Inc. (The) started coverage on Acceleron Pharma in a research report on Wednesday, May 17th. They set a “sell” rating and a $20.00 price target on the stock. FBR & Co reaffirmed a “buy” rating on shares of Acceleron Pharma in a research report on Thursday, May 18th. Finally, Cann reaffirmed a “buy” rating and set a $40.00 price target on shares of Acceleron Pharma in a research report on Thursday, June 1st. One analyst has rated the stock with a sell rating, five have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $41.53.
In other news, CFO Kevin F. Mclaughlin sold 34,400 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $32.00, for a total value of $1,100,800.00. Following the completion of the transaction, the chief financial officer now directly owns 80,950 shares of the company’s stock, valued at $2,590,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Ravindra Kumar sold 13,065 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $35.41, for a total value of $462,631.65. Following the completion of the transaction, the senior vice president now directly owns 108,392 shares of the company’s stock, valued at $3,838,160.72. The disclosure for this sale can be found here. Insiders sold 64,402 shares of company stock valued at $2,105,416 over the last ninety days. Corporate insiders own 3.90% 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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