Zacks: Brokerages Anticipate Acceleron Pharma Inc (XLRN) Will Post Earnings of -$0.67 Per Share

Wall Street brokerages expect that Acceleron Pharma Inc (NASDAQ:XLRN) will post ($0.67) earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Acceleron Pharma’s earnings. The highest EPS estimate is ($0.60) and the lowest is ($0.77). Acceleron Pharma posted earnings of ($0.62) per share in the same quarter last year, which suggests a negative year-over-year growth rate of 8.1%. The firm is expected to issue its next earnings results on Tuesday, February 26th.

On average, analysts expect that Acceleron Pharma will report full year earnings of ($2.51) per share for the current financial year, with EPS estimates ranging from ($2.61) to ($2.44). For the next financial year, analysts expect that the business will report earnings of ($2.05) per share, with EPS estimates ranging from ($2.48) to ($1.35). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Acceleron Pharma.

Acceleron Pharma (NASDAQ:XLRN) last issued its quarterly earnings data on Tuesday, October 30th. The biopharmaceutical company reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.03. The firm had revenue of $3.30 million during the quarter, compared to analysts’ expectations of $4.37 million. Acceleron Pharma had a negative net margin of 807.36% and a negative return on equity of 32.69%. The business’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the company earned ($0.65) earnings per share.

A number of brokerages have recently issued reports on XLRN. BidaskClub upgraded shares of Acceleron Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, August 28th. HC Wainwright restated a “buy” rating and set a $73.00 price target on shares of Acceleron Pharma in a report on Friday, August 3rd. Piper Jaffray Companies upgraded shares of Acceleron Pharma from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $52.00 to $75.00 in a report on Monday, September 17th. Cann restated a “hold” rating on shares of Acceleron Pharma in a report on Wednesday, October 31st. Finally, Morgan Stanley started coverage on shares of Acceleron Pharma in a report on Monday, September 10th. They set an “equal weight” rating and a $55.00 price target on the stock. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $56.30.

Shares of NASDAQ XLRN opened at $51.42 on Friday. The stock has a market cap of $2.41 billion, a PE ratio of -19.19 and a beta of 1.49. Acceleron Pharma has a 1 year low of $32.53 and a 1 year high of $59.59.

In related news, CFO Kevin F. Mclaughlin sold 12,500 shares of the business’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $54.00, for a total transaction of $675,000.00. Following the transaction, the chief financial officer now directly owns 56,439 shares in the company, valued at $3,047,706. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.00% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in XLRN. FMR LLC boosted its holdings in Acceleron Pharma by 56.6% during the third quarter. FMR LLC now owns 6,900,369 shares of the biopharmaceutical company’s stock worth $394,909,000 after purchasing an additional 2,494,546 shares during the last quarter. Janus Henderson Group PLC purchased a new position in Acceleron Pharma in the second quarter valued at about $59,835,000. BlackRock Inc. boosted its stake in Acceleron Pharma by 4.3% in the second quarter. BlackRock Inc. now owns 4,205,069 shares of the biopharmaceutical company’s stock valued at $204,030,000 after acquiring an additional 175,010 shares during the last quarter. Stanley Laman Group Ltd. purchased a new position in Acceleron Pharma in the third quarter valued at about $7,155,000. Finally, EAM Investors LLC purchased a new position in Acceleron Pharma in the third quarter valued at about $3,063,000. Institutional investors and hedge funds own 93.11% of the company’s stock.

Acceleron Pharma Company Profile

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.

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Earnings History and Estimates for Acceleron Pharma (NASDAQ:XLRN)

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