BidaskClub cut shares of Acceleron Pharma (NASDAQ:XLRN) from a sell rating to a strong sell rating in a research note issued to investors on Tuesday, BidAskClub reports.

Other analysts also recently issued research reports about the company. Barclays downgraded Acceleron Pharma from an overweight rating to an equal weight rating and cut their price target for the stock from $54.00 to $45.00 in a report on Friday, May 3rd. ValuEngine downgraded Acceleron Pharma from a strong-buy rating to a buy rating in a report on Thursday, April 18th. Citigroup reissued a buy rating and issued a $66.00 price target on shares of Acceleron Pharma in a report on Friday, May 24th. Goldman Sachs Group reissued a neutral rating and issued a $54.00 price target on shares of Acceleron Pharma in a report on Wednesday, May 29th. Finally, Zacks Investment Research downgraded Acceleron Pharma from a buy rating to a hold rating in a report on Friday, May 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. Acceleron Pharma has a consensus rating of Buy and a consensus price target of $59.73.

NASDAQ:XLRN opened at $38.21 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 19.26 and a current ratio of 19.26. Acceleron Pharma has a 52 week low of $32.53 and a 52 week high of $59.59. The company has a market cap of $1.98 billion, a price-to-earnings ratio of -14.75 and a beta of 1.29.

Acceleron Pharma (NASDAQ:XLRN) last released its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.07). Acceleron Pharma had a negative return on equity of 35.94% and a negative net margin of 965.39%. The firm had revenue of $2.78 million for the quarter, compared to the consensus estimate of $3.67 million. During the same period in the prior year, the business earned ($0.58) EPS. The company’s quarterly revenue was down 13.9% on a year-over-year basis. On average, research analysts forecast that Acceleron Pharma will post -2.42 earnings per share for the current fiscal year.

In related news, EVP John D. Quisel sold 3,622 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $44.64, for a total value of $161,686.08. Following the sale, the executive vice president now directly owns 54,004 shares in the company, valued at approximately $2,410,738.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Habib J. Dable sold 7,460 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $44.60, for a total value of $332,716.00. Following the completion of the sale, the chief executive officer now owns 76,754 shares in the company, valued at $3,423,228.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,730 shares of company stock worth $1,060,959. 2.50% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Teachers Advisors LLC grew its holdings in Acceleron Pharma by 4.2% during the third quarter. Teachers Advisors LLC now owns 86,281 shares of the biopharmaceutical company’s stock worth $4,938,000 after acquiring an additional 3,460 shares during the period. TIAA CREF Investment Management LLC boosted its position in Acceleron Pharma by 17.5% during the third quarter. TIAA CREF Investment Management LLC now owns 120,784 shares of the biopharmaceutical company’s stock worth $6,912,000 after purchasing an additional 17,986 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Acceleron Pharma by 17.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,602 shares of the biopharmaceutical company’s stock worth $113,000 after purchasing an additional 386 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Acceleron Pharma during the fourth quarter worth $113,000. Finally, Rhumbline Advisers boosted its position in Acceleron Pharma by 45.8% during the fourth quarter. Rhumbline Advisers now owns 53,334 shares of the biopharmaceutical company’s stock worth $2,323,000 after purchasing an additional 16,757 shares in the last quarter. Hedge funds and other institutional investors own 92.54% of the company’s stock.

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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Analyst Recommendations for Acceleron Pharma (NASDAQ:XLRN)

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