Trade Report: The Zacks Investment Research Lowers Acceleron Pharma Inc. (XLRN) to Sell

The Zacks Investment Research Lowers Acceleron Pharma Inc. (XLRN) to Sell

Zacks Investment Research cut shares of Acceleron Pharma Inc. (NASDAQ:XLRN) from a hold rating to a sell rating in a research note published on Thursday.

According to Zacks, “Acceleron Pharma Inc. is a biopharmaceutical company which focuses on the discovery, development and commercialization of protein therapeutics for cancer and rare diseases. Acceleron Pharma Inc. is based in Cambridge, Massachusetts. “

Several other equities analysts have also issued reports on XLRN. Piper Jaffray Cos. reiterated a buy rating on shares of Acceleron Pharma in a research report on Friday, June 10th. FBR & Co restated a buy rating and issued a $63.00 target price on shares of Acceleron Pharma in a research note on Monday, June 13th. Barclays PLC boosted their target price on Acceleron Pharma from $40.00 to $42.00 and gave the company an overweight rating in a research note on Monday, June 13th. Leerink Swann restated a buy rating on shares of Acceleron Pharma in a research note on Sunday, June 12th. Finally, Morgan Stanley restated an overweight rating on shares of Acceleron Pharma in a research note on Wednesday, June 29th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. Acceleron Pharma currently has an average rating of Buy and an average price target of $47.11.

Shares of Acceleron Pharma (NASDAQ:XLRN) opened at 33.73 on Thursday. Acceleron Pharma has a 52 week low of $21.93 and a 52 week high of $50.86. The stock has a 50 day moving average of $34.13 and a 200 day moving average of $32.70. The firm’s market cap is $1.27 billion.

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

In related news, SVP John D. Quisel sold 21,438 shares of the stock in a transaction on 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 owns 86,723 shares in the company, valued at approximately $2,787,277.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Ravindra Kumar sold 52,486 shares of the stock in a transaction on Monday, October 10th. The shares were sold at an average price of $33.92, for a total value of $1,780,325.12. Following the completion of the sale, the senior vice president now owns 91,875 shares in the company, valued at approximately $3,116,400. The disclosure for this sale can be found here. Insiders own 12.20% of the company’s stock.

A number of large investors have recently bought and sold shares of XLRN. Legal & General Group Plc boosted its stake in Acceleron Pharma by 33.8% in the first quarter. Legal & General Group Plc now owns 4,041 shares of the biopharmaceutical company’s stock worth $109,000 after buying an additional 1,020 shares during the period. Acrospire Investment Management LLC acquired a new stake in Acceleron Pharma during the second quarter worth $110,000. Teacher Retirement System of Texas boosted its stake in Acceleron Pharma by 14.3% in the second quarter. Teacher Retirement System of Texas now owns 3,817 shares of the biopharmaceutical company’s stock worth $130,000 after buying an additional 477 shares during the period. Pacad Investment Ltd. acquired a new stake in Acceleron Pharma during the second quarter worth $133,000. Finally, PNC Financial Services Group Inc. boosted its stake in Acceleron Pharma by 4,112.5% in the second quarter. PNC Financial Services Group Inc. now owns 5,055 shares of the biopharmaceutical company’s stock worth $172,000 after buying an additional 4,935 shares during the period. Institutional investors and hedge funds own 75.55% of the company’s stock.

About Acceleron Pharma

Acceleron Pharma Inc is a United States-based clinical stage biopharmaceutical company. The Company focuses on discovering and developing therapies to treat a range of diseases. Its therapeutic candidate, luspatercept, is being evaluated in Phase III studies for the treatment of the hematologic diseases myelodysplastic syndromes (MDS) and beta-thalassemia.

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