Metropolitan Life Insurance Co. NY raised its position in shares of Acceleron Pharma Inc (NASDAQ:XLRN) by 367.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,400 shares of the biopharmaceutical company’s stock after purchasing an additional 9,749 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Acceleron Pharma were worth $540,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Acceleron Pharma by 17.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,602 shares of the biopharmaceutical company’s stock valued at $113,000 after buying an additional 386 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Acceleron Pharma in the fourth quarter worth about $113,000. Smith Asset Management Group LP purchased a new position in shares of Acceleron Pharma in the fourth quarter worth about $154,000. Pacer Advisors Inc. purchased a new position in shares of Acceleron Pharma in the third quarter worth about $169,000. Finally, Advisor Group Inc. increased its stake in shares of Acceleron Pharma by 554.8% in the fourth quarter. Advisor Group Inc. now owns 4,256 shares of the biopharmaceutical company’s stock worth $186,000 after purchasing an additional 3,606 shares in the last quarter. 84.65% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently commented on XLRN shares. BidaskClub cut shares of Acceleron Pharma from a “hold” rating to a “sell” rating in a research note on Tuesday, January 22nd. ValuEngine lowered shares of Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 29th. Cowen initiated coverage on shares of Acceleron Pharma in a report on Monday, February 25th. They issued an “outperform” rating and a $78.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $67.00 target price (down from $72.00) on shares of Acceleron Pharma in a research report on Thursday, February 28th. Finally, Oppenheimer reissued an “outperform” rating on shares of Acceleron Pharma in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. Acceleron Pharma currently has a consensus rating of “Buy” and a consensus price target of $60.63.
XLRN opened at $41.73 on Friday. Acceleron Pharma Inc has a 1 year low of $32.53 and a 1 year high of $59.59. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of -16.11 and a beta of 1.41.
Acceleron Pharma (NASDAQ:XLRN) last issued its quarterly earnings results on Wednesday, February 27th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.67) by ($0.08). Acceleron Pharma had a negative return on equity of 36.63% and a negative net margin of 849.62%. The business had revenue of $3.80 million for the quarter, compared to analysts’ expectations of $3.21 million. During the same quarter in the previous year, the firm posted ($0.62) EPS. Acceleron Pharma’s revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts expect that Acceleron Pharma Inc will post -2.15 EPS for the current fiscal year.
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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