BidaskClub Downgrades Acceleron Pharma (NASDAQ:XLRN) to Buy

BidaskClub lowered shares of Acceleron Pharma (NASDAQ:XLRN) from a strong-buy rating to a buy rating in a report issued on Thursday morning, BidAskClub reports.

Other research analysts have also recently issued research reports about the company. Piper Jaffray Companies set a $71.00 price objective on Acceleron Pharma and gave the stock a buy rating in a research note on Monday, October 21st. Cowen reissued a buy rating on shares of Acceleron Pharma in a research note on Wednesday, November 6th. Morgan Stanley increased their price objective on Acceleron Pharma from $48.00 to $52.00 and gave the stock an equal weight rating in a research note on Tuesday, December 17th. Citigroup increased their price objective on Acceleron Pharma from $52.00 to $75.00 and gave the stock a buy rating in a research note on Wednesday. Finally, Zacks Investment Research cut Acceleron Pharma from a hold rating to a sell rating in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. Acceleron Pharma presently has a consensus rating of Buy and a consensus price target of $61.50.

Shares of NASDAQ XLRN traded down $0.71 during midday trading on Thursday, hitting $52.05. The company’s stock had a trading volume of 343,363 shares, compared to its average volume of 468,029. The company has a current ratio of 14.02, a quick ratio of 14.02 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $52.30 and its two-hundred day moving average is $45.60. Acceleron Pharma has a 12-month low of $37.01 and a 12-month high of $56.90. The firm has a market cap of $2.77 billion, a P/E ratio of -19.35 and a beta of 1.25.

Acceleron Pharma (NASDAQ:XLRN) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($0.03). Acceleron Pharma had a negative return on equity of 30.79% and a negative net margin of 353.57%. The firm had revenue of $4.20 million during the quarter, compared to the consensus estimate of $4.44 million. During the same period last year, the company earned ($0.63) EPS. The firm’s revenue for the quarter was up 27.3% compared to the same quarter last year. On average, analysts predict that Acceleron Pharma will post -2.26 earnings per share for the current fiscal year.

In other news, CFO Kevin F. Mclaughlin sold 5,579 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $52.50, for a total transaction of $292,897.50. Following the completion of the sale, the chief financial officer now owns 8,713 shares in the company, valued at approximately $457,432.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Kevin F. Mclaughlin sold 11,853 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $50.28, for a total value of $595,968.84. Following the sale, the chief financial officer now owns 10,426 shares of the company’s stock, valued at approximately $524,219.28. The disclosure for this sale can be found here. Insiders have sold a total of 27,920 shares of company stock worth $1,434,502 in the last ninety days. Insiders own 2.50% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Strs Ohio purchased a new stake in shares of Acceleron Pharma during the 4th quarter valued at $74,000. Tower Research Capital LLC TRC purchased a new position in Acceleron Pharma in the 2nd quarter worth $89,000. Convergence Investment Partners LLC purchased a new position in Acceleron Pharma in the 3rd quarter worth $149,000. Bank of Montreal Can raised its stake in Acceleron Pharma by 4,163.0% in the 2nd quarter. Bank of Montreal Can now owns 3,922 shares of the biopharmaceutical company’s stock worth $161,000 after acquiring an additional 3,830 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in Acceleron Pharma by 1,947.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 4,300 shares of the biopharmaceutical company’s stock worth $170,000 after acquiring an additional 4,090 shares during the last quarter. Hedge funds and other institutional investors own 89.36% 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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