Acceleron Pharma (NASDAQ:XLRN) had its target price lowered by Citigroup from $61.00 to $52.00 in a research note issued to investors on Tuesday morning, The Fly reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

A number of other research firms have also commented on XLRN. BidaskClub lowered Acceleron Pharma from a buy rating to a hold rating in a research report on Tuesday, August 27th. JPMorgan Chase & Co. dropped their price target on Acceleron Pharma from $61.00 to $58.00 and set an overweight rating on the stock in a research report on Tuesday, August 6th. HC Wainwright reaffirmed a buy rating and set a $69.00 price target on shares of Acceleron Pharma in a research report on Friday, September 6th. Credit Suisse Group set a $58.00 price target on Acceleron Pharma and gave the stock a buy rating in a research report on Monday, August 26th. Finally, Zacks Investment Research reaffirmed a hold rating on shares of Acceleron Pharma in a research report on Saturday, July 20th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $58.25.

NASDAQ:XLRN opened at $43.10 on Tuesday. Acceleron Pharma has a 1-year low of $37.01 and a 1-year high of $59.59. The business’s 50-day moving average price is $44.52 and its two-hundred day moving average price is $42.87. The company has a current ratio of 17.11, a quick ratio of 17.11 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of -16.64 and a beta of 1.23.

Acceleron Pharma (NASDAQ:XLRN) last released its earnings results on Monday, August 5th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.10). Acceleron Pharma had a negative net margin of 318.84% and a negative return on equity of 29.51%. The company had revenue of $27.67 million during the quarter, compared to analyst estimates of $28.72 million. During the same period in the previous year, the company posted ($0.63) EPS. The company’s quarterly revenue was up 649.9% compared to the same quarter last year. Sell-side analysts predict that Acceleron Pharma will post -2.33 earnings per share for the current year.

In related news, Director Jean George sold 37,500 shares of Acceleron Pharma stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $39.79, for a total value of $1,492,125.00. Following the sale, the director now owns 23,750 shares of the company’s stock, valued at approximately $945,012.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Adam M. Veness sold 824 shares of Acceleron Pharma stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $45.20, for a total value of $37,244.80. Following the completion of the sale, the vice president now directly owns 16,124 shares in the company, valued at approximately $728,804.80. The disclosure for this sale can be found here. In the last three months, insiders sold 88,416 shares of company stock worth $3,636,515. 2.50% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in the company. FMR LLC raised its stake in shares of Acceleron Pharma by 6.3% during the 1st quarter. FMR LLC now owns 7,363,953 shares of the biopharmaceutical company’s stock worth $342,939,000 after purchasing an additional 435,414 shares in the last quarter. BlackRock Inc. raised its stake in shares of Acceleron Pharma by 2.6% during the 2nd quarter. BlackRock Inc. now owns 4,921,880 shares of the biopharmaceutical company’s stock worth $202,191,000 after purchasing an additional 124,369 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Acceleron Pharma by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 4,086,713 shares of the biopharmaceutical company’s stock worth $167,881,000 after purchasing an additional 75,465 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in shares of Acceleron Pharma by 6.5% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,377,123 shares of the biopharmaceutical company’s stock worth $64,133,000 after purchasing an additional 84,410 shares in the last quarter. Finally, TimesSquare Capital Management LLC raised its stake in shares of Acceleron Pharma by 29.5% during the 1st quarter. TimesSquare Capital Management LLC now owns 920,715 shares of the biopharmaceutical company’s stock worth $42,878,000 after purchasing an additional 209,900 shares in the last quarter. Institutional investors own 90.12% 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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