Goldman Sachs Group Reiterates “Neutral” Rating for Acceleron Pharma (XLRN)
Goldman Sachs Group reaffirmed their neutral rating on shares of Acceleron Pharma (NASDAQ:XLRN) in a report issued on Wednesday morning, BenzingaRatingsTable reports. Goldman Sachs Group currently has a $54.00 price objective on the biopharmaceutical company’s stock.
A number of other research firms also recently commented on XLRN. ValuEngine upgraded Acceleron Pharma from a buy rating to a strong-buy rating in a research note on Thursday, April 4th. BidaskClub downgraded Acceleron Pharma from a hold rating to a sell rating in a research note on Friday, April 5th. HC Wainwright reiterated a buy rating and issued a $67.00 price target (down from $72.00) on shares of Acceleron Pharma in a research note on Thursday, February 28th. Cowen assumed coverage on Acceleron Pharma in a research note on Monday, February 25th. They issued an outperform rating and a $78.00 price target for the company. Finally, Zacks Investment Research downgraded Acceleron Pharma from a buy rating to a hold rating in a research note on Friday, May 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $59.73.
NASDAQ:XLRN opened at $39.89 on Wednesday. The stock has a market capitalization of $2.14 billion, a P/E ratio of -15.40 and a beta of 1.31. Acceleron Pharma has a one year low of $32.53 and a one year high of $59.59. The company has a debt-to-equity ratio of 0.05, a current ratio of 19.26 and a quick ratio of 19.26.
In other Acceleron Pharma news, CFO Kevin F. Mclaughlin sold 648 shares of Acceleron Pharma stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $48.02, for a total value of $31,116.96. Following the completion of the transaction, the chief financial officer now directly owns 42,279 shares in the company, valued at $2,030,237.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Habib J. Dable sold 7,460 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $44.60, for a total value of $332,716.00. Following the transaction, the chief executive officer now owns 76,754 shares of the company’s stock, 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 valued at $1,060,959. 2.50% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Clarfeld Financial Advisors LLC acquired a new position in shares of Acceleron Pharma during the fourth quarter worth approximately $44,000. Citizens Financial Group Inc RI acquired a new position in shares of Acceleron Pharma during the first quarter worth approximately $47,000. Quadrant Capital Group LLC acquired a new position in shares of Acceleron Pharma during the first quarter worth approximately $46,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Acceleron Pharma during the fourth quarter worth approximately $113,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of 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 buying an additional 386 shares during the period. Institutional investors and hedge funds own 92.54% of the company’s stock.
Acceleron Pharma Company Profile
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.
Further Reading: Strangles
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