Acceleron Pharma Inc (NASDAQ:XLRN) Expected to Post Quarterly Sales of $27.14 Million

Equities analysts predict that Acceleron Pharma Inc (NASDAQ:XLRN) will post sales of $27.14 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Acceleron Pharma’s earnings. The highest sales estimate is $28.40 million and the lowest is $25.00 million. Acceleron Pharma posted sales of $3.69 million in the same quarter last year, which suggests a positive year-over-year growth rate of 635.5%. The firm is scheduled to announce its next earnings results on Thursday, August 1st.

According to Zacks, analysts expect that Acceleron Pharma will report full year sales of $37.31 million for the current year, with estimates ranging from $27.80 million to $53.00 million. For the next year, analysts anticipate that the company will post sales of $100.06 million, with estimates ranging from $80.70 million to $115.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Acceleron Pharma.

Acceleron Pharma (NASDAQ:XLRN) last posted its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $2.78 million during the quarter, compared to analyst estimates of $3.67 million. During the same quarter in the previous year, the business posted ($0.58) earnings per share. The company’s revenue for the quarter was down 13.9% compared to the same quarter last year.

A number of brokerages have recently issued reports on XLRN. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price target on shares of Aurinia Pharmaceuticals in a report on Tuesday, June 4th. Citigroup set a $27.00 price objective on shares of PhaseBio Pharmaceuticals and gave the company a “buy” rating in a report on Friday, May 24th. ValuEngine lowered shares of Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 18th. CIBC cut their price objective on shares of Rogers Communications from C$73.00 to C$72.00 in a report on Monday, April 22nd. Finally, Piper Jaffray Companies cut their target price on shares of Motus GI from $8.00 to $6.00 in a report on Friday, May 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. Acceleron Pharma currently has a consensus rating of “Buy” and an average price target of $60.88.

XLRN stock traded up $0.30 during trading on Friday, hitting $40.86. 221,843 shares of the stock traded hands, compared to its average volume of 359,111. Acceleron Pharma has a 1 year low of $37.01 and a 1 year high of $59.59. The stock has a 50 day simple moving average of $40.47. The stock has a market capitalization of $2.14 billion, a PE ratio of -15.78 and a beta of 1.21. The company has a current ratio of 19.26, a quick ratio of 19.26 and a debt-to-equity ratio of 0.05.

In other news, Director Joseph S. Zakrzewski acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was purchased at an average cost of $38.05 per share, for a total transaction of $190,250.00. Following the completion of the acquisition, the director now directly owns 12,750 shares of the company’s stock, valued at approximately $485,137.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jean George sold 25,688 shares of Acceleron Pharma stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $39.16, for a total value of $1,005,942.08. Following the completion of the sale, the director now owns 23,750 shares of the company’s stock, valued at $930,050. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Clarfeld Financial Advisors LLC purchased a new stake in shares of Acceleron Pharma in the fourth quarter worth about $44,000. Quadrant Capital Group LLC acquired a new stake in shares of Acceleron Pharma during the 1st quarter worth approximately $46,000. Citizens Financial Group Inc RI acquired a new stake in shares of Acceleron Pharma during the 1st quarter worth approximately $47,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Acceleron Pharma by 13.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,958 shares of the biopharmaceutical company’s stock worth $138,000 after purchasing an additional 356 shares during the period. Finally, Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Acceleron Pharma during the 4th quarter worth approximately $157,000. Hedge funds and other institutional investors own 92.54% 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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