Altshuler Shaham Ltd decreased its stake in shares of Acceleron Pharma Inc (NASDAQ:XLRN) by 50.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 16,167 shares of the biopharmaceutical company’s stock after selling 16,167 shares during the period. Altshuler Shaham Ltd’s holdings in Acceleron Pharma were worth $925,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Rhumbline Advisers increased its holdings in Acceleron Pharma by 3.4% during the 2nd quarter. Rhumbline Advisers now owns 38,122 shares of the biopharmaceutical company’s stock worth $1,850,000 after purchasing an additional 1,268 shares during the period. Bank of Montreal Can increased its holdings in shares of Acceleron Pharma by 214.6% in the 3rd quarter. Bank of Montreal Can now owns 1,891 shares of the biopharmaceutical company’s stock valued at $108,000 after acquiring an additional 1,290 shares during the last quarter. Mackay Shields LLC increased its holdings in shares of Acceleron Pharma by 8.7% in the 2nd quarter. Mackay Shields LLC now owns 17,483 shares of the biopharmaceutical company’s stock valued at $848,000 after acquiring an additional 1,400 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Acceleron Pharma by 36.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,980 shares of the biopharmaceutical company’s stock valued at $343,000 after acquiring an additional 1,596 shares during the last quarter. Finally, State of Wisconsin Investment Board increased its holdings in shares of Acceleron Pharma by 4.2% in the 2nd quarter. State of Wisconsin Investment Board now owns 39,400 shares of the biopharmaceutical company’s stock valued at $1,912,000 after acquiring an additional 1,600 shares during the last quarter. Institutional investors own 93.11% of the company’s stock.
A number of research analysts have recently commented on XLRN shares. BidaskClub downgraded Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 9th. HC Wainwright reiterated a “buy” rating and issued a $73.00 price objective on shares of Acceleron Pharma in a report on Friday, August 3rd. Morgan Stanley started coverage on Acceleron Pharma in a report on Monday, September 10th. They issued an “equal weight” rating and a $55.00 price objective on the stock. Cann reiterated a “hold” rating on shares of Acceleron Pharma in a report on Wednesday, October 31st. Finally, Piper Jaffray Companies upgraded Acceleron Pharma from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $52.00 to $75.00 in a report on Monday, September 17th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $56.30.
Acceleron Pharma (NASDAQ:XLRN) last announced its earnings results 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 return on equity of 32.69% and a negative net margin of 807.36%. The business’s revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.65) EPS. Research analysts anticipate that Acceleron Pharma Inc will post -2.51 earnings per share for the current year.
In related news, CFO Kevin F. Mclaughlin sold 12,500 shares of the company’s stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $54.00, for a total value of $675,000.00. Following the completion of the sale, the chief financial officer now directly owns 56,439 shares of the company’s stock, valued at approximately $3,047,706. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.90% of the stock is owned by corporate insiders.
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.
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