BidaskClub Upgrades Acceleron Pharma (XLRN) to Buy

BidaskClub upgraded shares of Acceleron Pharma (NASDAQ:XLRN) from a hold rating to a buy rating in a research note published on Tuesday.

Other equities research analysts have also issued research reports about the stock. HC Wainwright boosted their price objective on shares of Acceleron Pharma to $74.00 and gave the stock a buy rating in a research note on Tuesday, July 10th. UBS Group boosted their price objective on shares of Acceleron Pharma to $62.00 and gave the stock a buy rating in a research note on Tuesday, July 10th. Morgan Stanley lowered shares of Acceleron Pharma from an overweight rating to an equal weight rating and set a $50.00 price objective on the stock. in a research note on Friday, July 13th. Cann reissued a hold rating on shares of Acceleron Pharma in a research note on Wednesday, October 31st. Finally, Royal Bank of Canada reissued a hold rating and set a $48.00 price objective on shares of Acceleron Pharma in a research note on Thursday, July 12th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Acceleron Pharma presently has an average rating of Buy and a consensus price target of $56.30.

 Tuesday. Acceleron Pharma has a one year low of $32.53 and a one year high of $59.59. The stock has a market cap of $2.47 billion, a P/E ratio of -20.48 and a beta of 1.49.

Acceleron Pharma (NASDAQ:XLRN) last posted its quarterly earnings data on Tuesday, October 30th. The biopharmaceutical company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.66) by $0.03. Acceleron Pharma had a negative net margin of 807.36% and a negative return on equity of 32.69%. The business had revenue of $3.30 million for the quarter, compared to analyst estimates of $4.37 million. During the same quarter in the previous year, the firm posted ($0.65) earnings per share. Acceleron Pharma’s quarterly revenue was up 10.0% on a year-over-year basis. On average, analysts expect that Acceleron Pharma will post -2.51 EPS for the current fiscal year.

In other news, CFO Kevin F. Mclaughlin sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $54.00, for a total value of $675,000.00. Following the transaction, the chief financial officer now owns 56,439 shares in the company, valued at $3,047,706. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.90% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can lifted its stake in shares of Acceleron Pharma by 214.6% in the third quarter. Bank of Montreal Can now owns 1,891 shares of the biopharmaceutical company’s stock worth $108,000 after buying an additional 1,290 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Acceleron Pharma in the second quarter worth approximately $237,000. Cubist Systematic Strategies LLC bought a new position in shares of Acceleron Pharma in the second quarter worth approximately $259,000. Xact Kapitalforvaltning AB lifted its stake in shares of Acceleron Pharma by 33.2% in the first quarter. Xact Kapitalforvaltning AB now owns 6,823 shares of the biopharmaceutical company’s stock worth $267,000 after buying an additional 1,700 shares in the last quarter. Finally, Parametrica Management Ltd bought a new position in shares of Acceleron Pharma in the second quarter worth approximately $274,000. Hedge funds and other institutional investors own 88.42% of the company’s stock.

About Acceleron Pharma

Acceleron Pharma Inc, a clinical stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics to treat serious and rare diseases. Its therapeutic candidates include luspatercept, which is in Phase III clinical trials for the treatment of myelodysplastic syndromes and beta-thalassemia; Phase II clinical trials for the treatment of patients with transfusion-dependent beta-thalassemia and myelofibrosis.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.