Trading Report: Today, Acceleron Pharma Inc. (XLRN) Raised to Hold at Zacks Investment Research

Today, Acceleron Pharma Inc. (XLRN) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Acceleron Pharma Inc. (NASDAQ:XLRN) from a sell rating to a hold rating in a research report released on Wednesday morning.

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. “

Other research analysts also recently issued reports about the company. Credit Suisse Group AG reissued a buy rating on shares of Acceleron Pharma in a report on Sunday, July 10th. FBR & Co reissued a buy rating on shares of Acceleron Pharma in a report on Wednesday, September 28th. Morgan Stanley reissued a buy rating and issued a $58.00 target price on shares of Acceleron Pharma in a report on Friday, August 5th. BTIG Research started coverage on Acceleron Pharma in a report on Friday, August 19th. They issued a buy rating and a $46.00 target price on the stock. Finally, Citigroup Inc. started coverage on Acceleron Pharma in a report on Thursday, September 29th. They issued a neutral rating and a $40.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $47.11.

Shares of Acceleron Pharma (NASDAQ:XLRN) opened at 29.86 on Wednesday. Acceleron Pharma has a 1-year low of $22.67 and a 1-year high of $50.86. The company’s market capitalization is $1.12 billion. The stock’s 50 day moving average price is $34.13 and its 200 day moving average price is $32.84.

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

In other Acceleron Pharma news, SVP John D. Quisel sold 45,952 shares of the company’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $38.05, for a total transaction of $1,748,473.60. Following the completion of the sale, the senior vice president now owns 77,004 shares in the company, valued at approximately $2,930,002.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John D. Quisel sold 21,438 shares of the company’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $32.14, for a total transaction of $689,017.32. Following the sale, the senior vice president now owns 86,723 shares of the company’s stock, valued at approximately $2,787,277.22. The disclosure for this sale can be found here. Company insiders own 12.20% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. Acrospire Investment Management LLC acquired a new stake in shares of Acceleron Pharma during the second quarter valued at approximately $110,000. Teacher Retirement System of Texas boosted its stake in shares of 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 valued at $130,000 after buying an additional 477 shares during the last quarter. Pacad Investment Ltd. acquired a new stake in shares of Acceleron Pharma during the second quarter valued at approximately $133,000. Legal & General Group Plc boosted its stake in shares of Acceleron Pharma by 33.8% in the first quarter. Legal & General Group Plc now owns 4,041 shares of the biopharmaceutical company’s stock valued at $109,000 after buying an additional 1,020 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of 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 valued at $172,000 after buying an additional 4,935 shares during the last quarter. Institutional investors own 75.51% of the company’s stock.

Acceleron Pharma Company Profile

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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