Zacks Investment Research Lowers Acceleron Pharma (XLRN) to Hold

Zacks Investment Research cut shares of Acceleron Pharma (NASDAQ:XLRN) from a buy rating to a hold rating in a research note published on Friday morning, Zacks.com reports.

According to Zacks, “Acceleron Pharma Inc. is a biopharmaceutical company which focuses on the discovery, development and commercialization of protein therapeutics for cancer and rare diseases. Acceleron Pharma Inc. is based in Cambridge, Massachusetts. “

A number of other equities research analysts have also issued reports on XLRN. ValuEngine raised shares of Acceleron Pharma from a buy rating to a strong-buy rating in a research note on Thursday, April 4th. BidaskClub lowered shares of Acceleron Pharma from a hold rating to a sell rating in a research note on Friday, April 5th. HC Wainwright reissued a buy rating and set a $67.00 target price (down previously from $72.00) on shares of Acceleron Pharma in a research note on Thursday, February 28th. Cowen initiated coverage on shares of Acceleron Pharma in a research note on Monday, February 25th. They set an outperform rating and a $78.00 target price for the company. Finally, Piper Jaffray Companies reissued an overweight rating and set a $74.00 target price (up previously from $71.00) on shares of Acceleron Pharma in a research note on Friday, May 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company. Acceleron Pharma presently has a consensus rating of Buy and a consensus target price of $57.70.

NASDAQ XLRN opened at $41.01 on Friday. Acceleron Pharma has a twelve month low of $32.53 and a twelve month high of $59.59. The company has a debt-to-equity ratio of 0.05, a quick ratio of 16.18 and a current ratio of 19.26. The company has a market cap of $2.20 billion, a price-to-earnings ratio of -15.83 and a beta of 1.31.

Acceleron Pharma (NASDAQ:XLRN) last posted its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.07). Acceleron Pharma had a negative return on equity of 35.94% and a negative net margin of 965.39%. The firm had revenue of $2.78 million for the quarter, compared to analysts’ expectations of $3.67 million. During the same quarter in the previous year, the firm posted ($0.58) earnings per share. The company’s revenue for the quarter was down 13.9% on a year-over-year basis. As a group, equities analysts expect that Acceleron Pharma will post -2.42 earnings per share for the current year.

In other Acceleron Pharma news, CEO Habib J. Dable sold 7,460 shares of the business’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $44.60, for a total transaction of $332,716.00. Following the completion of the transaction, the chief executive officer now owns 76,754 shares of the company’s stock, valued at approximately $3,423,228.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin F. Mclaughlin sold 12,000 shares of the business’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $44.62, for a total transaction of $535,440.00. Following the transaction, the chief financial officer now directly owns 30,379 shares of the company’s stock, valued at approximately $1,355,510.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,730 shares of company stock valued at $1,060,959. 2.50% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co NY lifted its position in Acceleron Pharma by 12.6% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 13,963 shares of the biopharmaceutical company’s stock worth $650,000 after acquiring an additional 1,563 shares during the last quarter. FMR LLC lifted its position in Acceleron Pharma by 6.3% during the 1st quarter. FMR LLC now owns 7,363,953 shares of the biopharmaceutical company’s stock worth $342,939,000 after acquiring an additional 435,414 shares during the last quarter. MetLife Investment Advisors LLC lifted its position in Acceleron Pharma by 10.9% during the 1st quarter. MetLife Investment Advisors LLC now owns 19,308 shares of the biopharmaceutical company’s stock worth $899,000 after acquiring an additional 1,902 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Acceleron Pharma by 79.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 460,941 shares of the biopharmaceutical company’s stock worth $21,466,000 after acquiring an additional 203,799 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new position in Acceleron Pharma during the 1st quarter worth $219,000. 85.05% of the stock is owned by hedge funds and other institutional investors.

Acceleron Pharma Company 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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