Granahan Investment Management Inc. MA Grows Holdings in Acceleron Pharma Inc. (XLRN)
Granahan Investment Management Inc. MA raised its position in shares of Acceleron Pharma Inc. (NASDAQ:XLRN) by 15.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 217,091 shares of the biopharmaceutical company’s stock after purchasing an additional 28,694 shares during the period. Granahan Investment Management Inc. MA owned approximately 0.48% of Acceleron Pharma worth $8,102,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in XLRN. Quantbot Technologies LP increased its holdings in shares of Acceleron Pharma by 416.3% in the third quarter. Quantbot Technologies LP now owns 2,917 shares of the biopharmaceutical company’s stock worth $108,000 after buying an additional 2,352 shares during the period. BNP Paribas Arbitrage SA increased its holdings in shares of Acceleron Pharma by 969.9% in the second quarter. BNP Paribas Arbitrage SA now owns 3,627 shares of the biopharmaceutical company’s stock worth $110,000 after buying an additional 3,288 shares during the period. Oppenheimer & Co. Inc. purchased a new position in shares of Acceleron Pharma in the third quarter worth about $225,000. PNC Financial Services Group Inc. increased its holdings in shares of Acceleron Pharma by 57.8% in the second quarter. PNC Financial Services Group Inc. now owns 8,460 shares of the biopharmaceutical company’s stock worth $258,000 after buying an additional 3,100 shares during the period. Finally, Trexquant Investment LP purchased a new position in shares of Acceleron Pharma in the third quarter worth about $266,000. Hedge funds and other institutional investors own 85.84% of the company’s stock.
Shares of Acceleron Pharma Inc. (XLRN) opened at $35.92 on Tuesday. Acceleron Pharma Inc. has a 12-month low of $23.07 and a 12-month high of $40.35.
Acceleron Pharma (NASDAQ:XLRN) last posted its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.67) by $0.02. The business had revenue of $3.00 million for the quarter, compared to analysts’ expectations of $3.52 million. Acceleron Pharma had a negative return on equity of 40.70% and a negative net margin of 759.34%. The business’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.55) EPS. equities analysts forecast that Acceleron Pharma Inc. will post -2.65 EPS for the current year.
In related news, major shareholder Corp /De/ Celgene purchased 745,592 shares of the company’s stock in a transaction dated Monday, September 25th. The shares were purchased at an average cost of $37.00 per share, with a total value of $27,586,904.00. Following the transaction, the insider now directly owns 6,118,479 shares in the company, valued at approximately $226,383,723. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, SVP John D. Quisel sold 5,113 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $38.42, for a total value of $196,441.46. Following the completion of the sale, the senior vice president now directly owns 57,918 shares in the company, valued at $2,225,209.56. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
Several research analysts have recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $62.00 price objective on shares of Acceleron Pharma in a report on Monday. Oppenheimer reissued a “hold” rating on shares of Acceleron Pharma in a research note on Wednesday, September 20th. Royal Bank of Canada reissued a “hold” rating on shares of Acceleron Pharma in a research note on Thursday, November 2nd. Credit Suisse Group set a $51.00 target price on Acceleron Pharma and gave the stock a “buy” rating in a research note on Tuesday, November 14th. Finally, ValuEngine cut Acceleron Pharma from a “hold” rating to a “sell” rating in a research note on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Acceleron Pharma presently has a consensus rating of “Buy” and a consensus price target of $44.56.
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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