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.