Trading Report: The Acceleron Pharma Inc. (XLRN) Given Outperform Rating at Leerink Swann

The Acceleron Pharma Inc. (XLRN) Given Outperform Rating at Leerink Swann

Leerink Swann reissued their outperform rating on shares of Acceleron Pharma Inc. (NASDAQ:XLRN) in a report published on Friday morning.

XLRN has been the subject of several other research reports. BTIG Research began coverage on Acceleron Pharma in a report on Friday, August 19th. They set a buy rating and a $46.00 price target for the company. Piper Jaffray Cos. reiterated a buy rating on shares of Acceleron Pharma in a report on Friday, June 10th. Morgan Stanley reiterated a buy rating and set a $58.00 price target on shares of Acceleron Pharma in a report on Friday, August 5th. Credit Suisse Group AG reiterated a buy rating and set a $42.00 price target on shares of Acceleron Pharma in a report on Wednesday, September 28th. Finally, FBR & Co reiterated a buy rating and set a $63.00 price target on shares of Acceleron Pharma in a report on Friday, August 5th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Acceleron Pharma presently has an average rating of Buy and a consensus target price of $47.11.

Shares of Acceleron Pharma (NASDAQ:XLRN) traded down 4.27% during midday trading on Friday, reaching $32.29. The company’s stock had a trading volume of 57,605 shares. The stock’s market cap is $1.21 billion. Acceleron Pharma has a one year low of $21.93 and a one year high of $50.86. The firm has a 50-day moving average of $34.13 and a 200-day moving average of $32.70.

Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.59) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by $0.09. The firm had revenue of $3.20 million for the quarter, compared to the consensus estimate of $3.77 million. Acceleron Pharma had a negative net margin of 190.41% and a negative return on equity of 30.00%. The business’s revenue for the quarter was down 43.9% compared to the same quarter last year. On average, analysts forecast that Acceleron Pharma will post ($1.59) EPS for the current year.

In related news, SVP Ravindra Kumar sold 52,486 shares of the stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $33.92, for a total transaction of $1,780,325.12. Following the sale, the senior vice president now owns 91,875 shares of the company’s stock, valued at approximately $3,116,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John D. Quisel sold 21,438 shares of the stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $32.14, for a total value of $689,017.32. Following the sale, the senior vice president now directly owns 86,723 shares in the company, valued at approximately $2,787,277.22. The disclosure for this sale can be found here. Insiders own 12.20% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Schwab Charles Investment Management Inc. boosted its stake in shares of Acceleron Pharma by 5.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 112,057 shares of the biopharmaceutical company’s stock worth $3,808,000 after buying an additional 5,634 shares during the period. Legal & General Group Plc boosted its stake in shares of Acceleron Pharma by 4.3% in the second quarter. Legal & General Group Plc now owns 4,214 shares of the biopharmaceutical company’s stock worth $145,000 after buying an additional 173 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in shares of Acceleron Pharma by 10.1% in the second quarter. Metropolitan Life Insurance Co. NY now owns 20,217 shares of the biopharmaceutical company’s stock worth $687,000 after buying an additional 1,850 shares during the period. Parametric Portfolio Associates LLC boosted its stake in shares of Acceleron Pharma by 1.0% in the second quarter. Parametric Portfolio Associates LLC now owns 8,797 shares of the biopharmaceutical company’s stock worth $299,000 after buying an additional 90 shares during the period. Finally, Pictet Asset Management Ltd. boosted its stake in shares of Acceleron Pharma by 744.9% in the second quarter. Pictet Asset Management Ltd. now owns 727,427 shares of the biopharmaceutical company’s stock worth $24,885,000 after buying an additional 641,327 shares during the period. 75.55% of the stock is currently owned by institutional investors and hedge funds.

Acceleron Pharma Company Profile

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