BidaskClub Upgrades Acceleron Pharma (NASDAQ:XLRN) to “Sell”

Acceleron Pharma (NASDAQ:XLRN) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Friday, BidAskClub reports.

Other analysts have also recently issued reports about the company. ValuEngine cut Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 18th. Barclays set a $24.00 price target on Orion Engineered Carbons and gave the company a “hold” rating in a research report on Friday, May 3rd. HC Wainwright reiterated a “buy” rating and set a $25.00 price target on shares of Aurinia Pharmaceuticals in a research report on Tuesday, June 4th. Morgan Stanley set a $70.00 price target on Edison International and gave the company a “hold” rating in a research report on Monday, July 15th. Finally, CIBC lowered their price target on Rogers Communications from C$73.00 to C$72.00 in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $60.63.

XLRN opened at $42.33 on Friday. Acceleron Pharma has a 12 month low of $37.01 and a 12 month high of $59.59. The company has a current ratio of 19.26, a quick ratio of 19.26 and a debt-to-equity ratio of 0.05. The firm has a market cap of $2.26 billion, a PE ratio of -16.34 and a beta of 1.21. The firm has a 50 day simple moving average of $40.43.

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

In related news, Director Joseph S. Zakrzewski acquired 5,000 shares of Acceleron Pharma stock in a transaction dated Friday, June 14th. The stock was acquired at an average cost of $38.05 per share, with a total value of $190,250.00. Following the purchase, the director now directly owns 12,750 shares in the company, valued at approximately $485,137.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jean George sold 25,688 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $39.16, for a total value of $1,005,942.08. Following the sale, the director now directly owns 23,750 shares of the company’s stock, valued at $930,050. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,726 shares of company stock worth $2,519,969. 2.50% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Acceleron Pharma by 6.3% during the 1st quarter. FMR LLC now owns 7,363,953 shares of the biopharmaceutical company’s stock worth $342,939,000 after acquiring an additional 435,414 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Acceleron Pharma by 6.5% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,377,123 shares of the biopharmaceutical company’s stock worth $64,133,000 after acquiring an additional 84,410 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Acceleron Pharma by 2.7% during the 1st quarter. Janus Henderson Group PLC now owns 1,310,533 shares of the biopharmaceutical company’s stock worth $61,031,000 after acquiring an additional 34,346 shares in the last quarter. Great Point Partners LLC boosted its stake in shares of Acceleron Pharma by 12.9% during the 4th quarter. Great Point Partners LLC now owns 1,036,575 shares of the biopharmaceutical company’s stock worth $45,143,000 after acquiring an additional 118,808 shares in the last quarter. Finally, TimesSquare Capital Management LLC boosted its stake in shares of Acceleron Pharma by 29.5% during the 1st quarter. TimesSquare Capital Management LLC now owns 920,715 shares of the biopharmaceutical company’s stock worth $42,878,000 after acquiring an additional 209,900 shares in the last quarter. 92.54% of the stock is owned by institutional investors and hedge funds.

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.

Featured Story: How to use beta for portfolio diversification

Analyst Recommendations for Acceleron Pharma (NASDAQ:XLRN)

Receive News & Ratings for Acceleron Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acceleron Pharma and related companies with MarketBeat.com's FREE daily email newsletter.