Acceleron Pharma (NASDAQ:XLRN) Upgraded at Zacks Investment Research

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

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 research reports about the company. Citigroup set a $27.00 price target on PhaseBio Pharmaceuticals and gave the stock a buy rating in a research note on Friday, May 24th. Barclays set a $24.00 price target on Orion Engineered Carbons and gave the stock a hold rating in a research note on Friday, May 3rd. ValuEngine downgraded Acceleron Pharma from a strong-buy rating to a buy rating in a research note on Thursday, April 18th. BidaskClub downgraded Xencor from a sell rating to a strong sell rating in a research note on Tuesday, June 11th. Finally, Oppenheimer set a $290.00 price target on Biogen and gave the stock a buy rating in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $60.63.

XLRN stock opened at $41.74 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 19.26 and a quick ratio of 19.26. The company has a market cap of $2.17 billion, a P/E ratio of -16.12 and a beta of 1.21. Acceleron Pharma has a fifty-two week low of $37.01 and a fifty-two week high of $59.59. The business’s fifty day moving average price is $40.38.

Acceleron Pharma (NASDAQ:XLRN) last posted its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.07). The firm had revenue of $2.78 million for the quarter, compared to the consensus estimate of $3.67 million. Acceleron Pharma had a negative return on equity of 35.94% and a negative net margin of 965.39%. The firm’s revenue was down 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.58) EPS. On average, analysts predict that Acceleron Pharma will post -2.44 EPS for the current fiscal year.

In related news, Director Jean George sold 37,500 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $39.79, for a total transaction of $1,492,125.00. Following the sale, the director now owns 23,750 shares of the company’s stock, valued at approximately $945,012.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph S. Zakrzewski acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average cost of $38.05 per share, for a total transaction of $190,250.00. Following the acquisition, the director now directly owns 12,750 shares in the company, valued at approximately $485,137.50. The disclosure for this purchase can be found here. Insiders have sold a total of 63,726 shares of company stock worth $2,519,969 in the last three months. 2.50% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the business. TimesSquare Capital Management LLC raised its holdings in shares of Acceleron Pharma by 29.5% in the 1st quarter. TimesSquare Capital Management LLC now owns 920,715 shares of the biopharmaceutical company’s stock valued at $42,878,000 after acquiring an additional 209,900 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Acceleron Pharma by 132.1% in the 4th quarter. Bank of New York Mellon Corp now owns 439,644 shares of the biopharmaceutical company’s stock valued at $19,147,000 after acquiring an additional 250,254 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in shares of Acceleron Pharma by 367.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 12,400 shares of the biopharmaceutical company’s stock valued at $540,000 after acquiring an additional 9,749 shares in the last quarter. MetLife Investment Advisors LLC raised its holdings in shares of Acceleron Pharma by 10.9% in the 1st quarter. MetLife Investment Advisors LLC now owns 19,308 shares of the biopharmaceutical company’s stock valued at $899,000 after acquiring an additional 1,902 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. raised its holdings in shares of Acceleron Pharma by 94.2% in the 4th quarter. Candriam Luxembourg S.C.A. now owns 242,758 shares of the biopharmaceutical company’s stock valued at $10,572,000 after acquiring an additional 117,758 shares in the last quarter. 92.54% of the stock is currently owned by hedge funds and other institutional investors.

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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