BidaskClub Upgrades Acceleron Pharma (NASDAQ:XLRN) to Buy

Acceleron Pharma (NASDAQ:XLRN) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Saturday, BidAskClub reports.

XLRN has been the subject of several other research reports. Oppenheimer restated an “outperform” rating on shares of Acceleron Pharma in a research report on Monday, April 22nd. Piper Jaffray Companies restated an “overweight” rating and issued a $74.00 price target (up previously from $71.00) on shares of Acceleron Pharma in a research report on Friday, May 10th. Barclays downgraded shares of Acceleron Pharma from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $54.00 to $45.00 in a research report on Friday, May 3rd. HC Wainwright restated a “buy” rating and issued a $69.00 price target on shares of Acceleron Pharma in a research report on Tuesday, June 4th. Finally, Zacks Investment Research reiterated a “hold” rating on shares of Acceleron Pharma in a research note on Saturday, July 20th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Acceleron Pharma has a consensus rating of “Buy” and a consensus price target of $60.33.

Shares of NASDAQ:XLRN opened at $46.00 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.11 and a current ratio of 17.11. The company has a market cap of $2.37 billion, a PE ratio of -17.76 and a beta of 1.18. Acceleron Pharma has a 52 week low of $37.01 and a 52 week high of $59.59. The firm has a 50 day simple moving average of $42.63 and a 200 day simple moving average of $42.59.

Acceleron Pharma (NASDAQ:XLRN) last issued its quarterly earnings results on Monday, August 5th. The biopharmaceutical company reported ($0.34) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.10). The firm had revenue of $27.67 million during the quarter, compared to analysts’ expectations of $28.72 million. Acceleron Pharma had a negative net margin of 318.84% and a negative return on equity of 29.51%. The firm’s revenue was up 649.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.63) EPS. On average, equities analysts predict that Acceleron Pharma will post -2.33 earnings per share for the current year.

In other Acceleron Pharma news, VP Adam M. Veness sold 3,268 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $45.00, for a total value of $147,060.00. Following the transaction, the vice president now owns 16,925 shares in the company, valued at approximately $761,625. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jean George sold 37,500 shares of the stock in a transaction on 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 transaction, the director now owns 23,750 shares in the company, valued at approximately $945,012.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,994 shares of company stock worth $2,667,029. Company insiders own 2.50% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Acceleron Pharma by 13.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,958 shares of the biopharmaceutical company’s stock worth $138,000 after purchasing an additional 356 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Acceleron Pharma by 7.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 5,745 shares of the biopharmaceutical company’s stock worth $236,000 after purchasing an additional 422 shares during the last quarter. Citizens Financial Group Inc RI acquired a new position in shares of Acceleron Pharma during the 1st quarter worth $47,000. Quadrant Capital Group LLC acquired a new position in shares of Acceleron Pharma during the 1st quarter worth $46,000. Finally, Virtus ETF Advisers LLC increased its stake in shares of Acceleron Pharma by 22.1% during the 2nd quarter. Virtus ETF Advisers LLC now owns 7,095 shares of the biopharmaceutical company’s stock worth $291,000 after purchasing an additional 1,285 shares during the last quarter. Institutional investors own 92.90% 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.

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Analyst Recommendations for Acceleron Pharma (NASDAQ:XLRN)

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