Acceleron Pharma Inc (NASDAQ:XLRN) VP Adam M. Veness sold 538 shares of Acceleron Pharma stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $40.71, for a total transaction of $21,901.98. Following the completion of the transaction, the vice president now owns 20,193 shares of the company’s stock, valued at $822,057.03. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Acceleron Pharma stock traded up $0.74 during mid-day trading on Wednesday, hitting $41.74. The company’s stock had a trading volume of 190,770 shares, compared to its average volume of 400,769. The company has a current ratio of 19.26, a quick ratio of 19.26 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.17 billion, a PE ratio of -16.12 and a beta of 1.21. The business has a 50 day moving average of $40.38. Acceleron Pharma Inc has a 12 month low of $37.01 and a 12 month high of $59.59.

Acceleron Pharma (NASDAQ:XLRN) last posted its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.07). The business had revenue of $2.78 million during the quarter, compared to the consensus estimate of $3.67 million. Acceleron Pharma had a negative return on equity of 35.94% and a negative net margin of 965.39%. The business’s revenue for the quarter was down 13.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.58) earnings per share. Equities analysts forecast that Acceleron Pharma Inc will post -2.44 earnings per share for the current year.

XLRN has been the subject of a number of recent research reports. CIBC reduced their price objective on shares of Rogers Communications from C$73.00 to C$72.00 in a research note on Monday, April 22nd. Cowen reiterated a “buy” rating on shares of Ovid Therapeutics in a research note on Sunday, May 12th. Barclays set a $24.00 price objective on shares of Orion Engineered Carbons and gave the company a “hold” rating in a research note on Friday, May 3rd. Piper Jaffray Companies reduced their price objective on shares of Motus GI from $8.00 to $6.00 in a research note on Friday, May 10th. Finally, ValuEngine lowered shares of Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $60.63.

A number of institutional investors have recently bought and sold shares of the business. Clarfeld Financial Advisors LLC purchased a new stake in Acceleron Pharma in the fourth quarter worth about $44,000. Quadrant Capital Group LLC bought a new position in shares of Acceleron Pharma in the first quarter worth approximately $46,000. Citizens Financial Group Inc RI bought a new position in shares of Acceleron Pharma in the first quarter worth approximately $47,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Acceleron Pharma by 13.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,958 shares of the biopharmaceutical company’s stock worth $138,000 after buying an additional 356 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. bought a new position in shares of Acceleron Pharma in the fourth quarter worth approximately $157,000. 92.54% of the stock is owned by institutional investors and hedge funds.

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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