Acceleron Pharma (NASDAQ:XLRN) had its price target upped by HC Wainwright from $148.00 to $168.00 in a report issued on Tuesday, The Fly reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price points to a potential upside of 32.82% from the stock’s current price.
A number of other equities research analysts have also recently commented on XLRN. Oppenheimer increased their price target on Acceleron Pharma from $120.00 to $131.00 and gave the company an “outperform” rating in a research note on Monday, November 16th. Morgan Stanley increased their price target on Acceleron Pharma from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 16th. Barclays increased their price target on Acceleron Pharma from $133.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, December 21st. Finally, SVB Leerink increased their price target on Acceleron Pharma from $134.00 to $138.00 and gave the company an “outperform” rating in a research note on Friday, November 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $131.85.
XLRN opened at $126.49 on Tuesday. Acceleron Pharma has a 12-month low of $50.80 and a 12-month high of $136.25. The business’s fifty day simple moving average is $125.33 and its 200-day simple moving average is $110.10. The company has a market capitalization of $7.62 billion, a price-to-earnings ratio of -48.84 and a beta of 0.59.
Acceleron Pharma (NASDAQ:XLRN) last issued its quarterly earnings data on Tuesday, November 10th. The biopharmaceutical company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.05). The company had revenue of $22.60 million for the quarter, compared to analysts’ expectations of $26.52 million. Acceleron Pharma had a negative return on equity of 31.62% and a negative net margin of 157.84%. The company’s revenue for the quarter was up 438.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.86) earnings per share. On average, equities analysts forecast that Acceleron Pharma will post -2.47 EPS for the current fiscal year.
In other news, SVP Adam M. Veness sold 2,056 shares of the firm’s stock in a transaction dated Tuesday, January 5th. The stock was sold at an average price of $122.56, for a total value of $251,983.36. Following the completion of the transaction, the senior vice president now directly owns 18,219 shares in the company, valued at $2,232,920.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Habib J. Dable sold 4,258 shares of the firm’s stock in a transaction dated Tuesday, January 5th. The stock was sold at an average price of $121.13, for a total value of $515,771.54. Following the completion of the transaction, the chief executive officer now owns 86,046 shares of the company’s stock, valued at $10,422,751.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,622 shares of company stock valued at $8,025,691. Company insiders own 2.50% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in Acceleron Pharma by 4.6% during the third quarter. BlackRock Inc. now owns 4,641,005 shares of the biopharmaceutical company’s stock worth $522,254,000 after acquiring an additional 204,593 shares during the period. Alkeon Capital Management LLC grew its holdings in Acceleron Pharma by 8.3% during the third quarter. Alkeon Capital Management LLC now owns 1,625,606 shares of the biopharmaceutical company’s stock worth $182,929,000 after acquiring an additional 125,000 shares during the period. State Street Corp grew its holdings in Acceleron Pharma by 1.6% during the third quarter. State Street Corp now owns 1,147,151 shares of the biopharmaceutical company’s stock worth $129,089,000 after acquiring an additional 18,148 shares during the period. Lord Abbett & CO. LLC grew its holdings in Acceleron Pharma by 272.5% during the third quarter. Lord Abbett & CO. LLC now owns 1,033,984 shares of the biopharmaceutical company’s stock worth $116,354,000 after acquiring an additional 756,387 shares during the period. Finally, Candriam Luxembourg S.C.A. grew its holdings in Acceleron Pharma by 32.6% during the third quarter. Candriam Luxembourg S.C.A. now owns 505,380 shares of the biopharmaceutical company’s stock worth $56,868,000 after acquiring an additional 124,371 shares during the period. 79.78% of the stock is currently owned by hedge funds and other institutional investors.
Acceleron Pharma Company Profile
Acceleron Pharma Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics to treat serious and rare diseases. It offers luspatercept-aamt for the treatment of anemia in adult patients with beta-thalassemia under the REBLOZYL name. The company also develops luspatercept-aamt for the treatment of myelodysplastic syndromes and myelofibrosis; Sotatercept for the treatment of patients with pulmonary arterial hypertension; and ACE-083, a neuromuscular candidate that is in Phase II clinical trials for the treatment of patients with Charcot-Marie-Tooth disease.
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