Piper Jaffray Companies Reiterates “Buy” Rating for Acceleron Pharma Inc. (NASDAQ:XLRN)
Piper Jaffray Companies reissued their buy rating on shares of Acceleron Pharma Inc. (NASDAQ:XLRN) in a research report report published on Friday. They currently have a $40.00 price target on the biopharmaceutical company’s stock.
Several other equities analysts also recently commented on XLRN. Oppenheimer Holdings, Inc. reissued a market perform rating on shares of Acceleron Pharma in a research note on Tuesday, June 13th. CIBC downgraded shares of Acceleron Pharma from an outperform rating to a market perform rating in a research note on Tuesday, June 13th. Zacks Investment Research raised shares of Acceleron Pharma from a hold rating to a buy rating and set a $37.00 price objective for the company in a research note on Thursday, July 13th. Credit Suisse Group reissued a buy rating and issued a $46.00 price objective on shares of Acceleron Pharma in a research note on Thursday, April 6th. Finally, BidaskClub raised shares of Acceleron Pharma from a buy rating to a strong-buy rating in a research note on Wednesday, July 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $41.73.
Acceleron Pharma (XLRN) opened at 32.15 on Friday. The stock has a 50 day moving average of $31.41 and a 200-day moving average of $28.36. Acceleron Pharma has a 1-year low of $23.07 and a 1-year high of $41.69. The company’s market cap is $1.24 billion.
Acceleron Pharma (NASDAQ:XLRN) last issued its quarterly earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.66) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.58) by $0.08. Acceleron Pharma had a negative return on equity of 38.57% and a negative net margin of 659.04%. The firm had revenue of $3.71 million for the quarter, compared to the consensus estimate of $3.38 million. During the same period last year, the company posted $0.13 EPS. The business’s revenue was down 79.6% on a year-over-year basis. On average, equities research analysts predict that Acceleron Pharma will post ($2.51) earnings per share for the current year.
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In other news, CFO Kevin F. Mclaughlin sold 34,400 shares of the firm’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $32.00, for a total transaction of $1,100,800.00. Following the completion of the transaction, the chief financial officer now owns 80,950 shares of the company’s stock, valued at $2,590,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Matthew L. Sherman sold 16,000 shares of the firm’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $32.00, for a total transaction of $512,000.00. Following the transaction, the executive vice president now directly owns 112,400 shares of the company’s stock, valued at approximately $3,596,800. The disclosure for this sale can be found here. Insiders have sold 51,337 shares of company stock valued at $1,642,784 in the last ninety days. Insiders own 3.90% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in XLRN. Russell Investments Group Ltd. acquired a new position in Acceleron Pharma during the fourth quarter valued at about $378,000. Candriam Luxembourg S.C.A. increased its position in Acceleron Pharma by 20.5% in the first quarter. Candriam Luxembourg S.C.A. now owns 182,000 shares of the biopharmaceutical company’s stock valued at $4,818,000 after buying an additional 31,000 shares during the last quarter. State Street Corp increased its position in Acceleron Pharma by 6.3% in the fourth quarter. State Street Corp now owns 943,174 shares of the biopharmaceutical company’s stock valued at $24,071,000 after buying an additional 56,219 shares during the last quarter. Platinum Investment Management Ltd. acquired a new position in Acceleron Pharma during the first quarter valued at about $1,154,000. Finally, Trexquant Investment LP acquired a new position in Acceleron Pharma during the first quarter valued at about $281,000. 83.51% of the stock is owned by hedge funds and other institutional investors.
About Acceleron Pharma
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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