WCM Investment Management LLC Acquires Shares of 12,851 Acceleron Pharma Inc (NASDAQ:XLRN)

WCM Investment Management LLC acquired a new stake in Acceleron Pharma Inc (NASDAQ:XLRN) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 12,851 shares of the biopharmaceutical company’s stock, valued at approximately $528,000.

Other institutional investors have also added to or reduced their stakes in the company. Citizens Financial Group Inc RI bought a new position in shares of Acceleron Pharma in the first quarter valued at $47,000. Quadrant Capital Group LLC bought a new position in shares of Acceleron Pharma in the first quarter valued at $46,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Acceleron Pharma by 13.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,958 shares of the biopharmaceutical company’s stock valued at $138,000 after buying an additional 356 shares in the last quarter. Aperio Group LLC bought a new position in shares of Acceleron Pharma in the second quarter valued at $190,000. Finally, Financial Counselors Inc. bought a new position in shares of Acceleron Pharma in the first quarter valued at $216,000. 91.23% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have weighed in on XLRN. ValuEngine raised shares of Acceleron Pharma from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 8th. Goldman Sachs Group reissued a “neutral” rating and set a $54.00 price target on shares of Acceleron Pharma in a research report on Wednesday, May 29th. Piper Jaffray Companies reissued an “overweight” rating and set a $74.00 price target (up from $71.00) on shares of Acceleron Pharma in a research report on Friday, May 10th. BidaskClub raised shares of Acceleron Pharma from a “hold” rating to a “buy” rating in a research report on Saturday, August 17th. Finally, Zacks Investment Research reissued a “hold” rating on shares of Acceleron Pharma in a research report on Saturday, July 20th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Acceleron Pharma currently has a consensus rating of “Buy” and an average price target of $60.33.

Shares of XLRN traded down $2.56 during trading hours on Friday, reaching $43.65. 11,616 shares of the stock traded hands, compared to its average volume of 291,155. The company has a current ratio of 17.11, a quick ratio of 17.11 and a debt-to-equity ratio of 0.05. The stock has a fifty day simple moving average of $43.21 and a 200 day simple moving average of $42.71. Acceleron Pharma Inc has a 52 week low of $37.01 and a 52 week high of $59.59. The company has a market cap of $2.43 billion, a price-to-earnings ratio of -17.29 and a beta of 1.18.

Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings results on Monday, August 5th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.10). Acceleron Pharma had a negative net margin of 318.84% and a negative return on equity of 29.51%. The firm had revenue of $27.67 million for the quarter, compared to the consensus estimate of $28.72 million. During the same period in the previous year, the business earned ($0.63) earnings per share. The firm’s revenue for the quarter was up 649.9% on a year-over-year basis. Analysts predict that Acceleron Pharma Inc will post -2.33 earnings per share for the current fiscal year.

In other Acceleron Pharma news, VP Adam M. Veness sold 3,268 shares of Acceleron Pharma stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $45.00, for a total value of $147,060.00. Following the sale, the vice president now owns 16,925 shares of the company’s stock, valued at $761,625. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jean George sold 37,500 shares of Acceleron Pharma 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 completion of the sale, the director now directly owns 23,750 shares in the company, valued at approximately $945,012.50. The disclosure for this sale can be found here. Insiders have sold 66,994 shares of company stock worth $2,667,029 over the last three months. 2.50% of the stock is owned by insiders.

Acceleron Pharma 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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Institutional Ownership by Quarter for Acceleron Pharma (NASDAQ:XLRN)

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