Acceleron Pharma (NASDAQ:XLRN) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Acceleron Pharma (NASDAQ:XLRN) from a sell rating to a hold rating in a report issued on Sunday, 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. “

Several other equities research analysts also recently weighed in on the company. Goldman Sachs Group raised Koninklijke KPN from a neutral rating to a buy rating in a research report on Wednesday, May 29th. Cowen reaffirmed a buy rating on shares of Ovid Therapeutics in a research report on Sunday, May 12th. Piper Jaffray Companies decreased their target price on Motus GI from $8.00 to $6.00 in a research report on Friday, May 10th. ValuEngine downgraded Acceleron Pharma from a strong-buy rating to a buy rating in a research report on Thursday, April 18th. Finally, BidaskClub downgraded Xencor from a sell rating to a strong sell rating in a research report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. Acceleron Pharma has an average rating of Hold and an average price target of $60.88.

Shares of NASDAQ XLRN opened at $41.00 on Friday. Acceleron Pharma has a 1-year low of $37.01 and a 1-year high of $59.59. The stock has a 50-day moving average of $40.39. The company has a debt-to-equity ratio of 0.05, a current ratio of 19.26 and a quick ratio of 19.26. The stock has a market capitalization of $2.17 billion, a P/E ratio of -15.83 and a beta of 1.21.

Acceleron Pharma (NASDAQ:XLRN) last issued its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.74) earnings per share for the quarter, missing the Thomson Reuters’ 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 company had revenue of $2.78 million during the quarter, compared to analysts’ expectations of $3.67 million. During the same period in the previous year, the company earned ($0.58) EPS. Acceleron Pharma’s quarterly revenue was down 13.9% on a year-over-year basis. Sell-side analysts expect that Acceleron Pharma will post -2.44 earnings per share for the current fiscal year.

In related news, Director Jean George sold 37,500 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $39.79, for a total value of $1,492,125.00. Following the completion of the transaction, the director now owns 23,750 shares of the company’s stock, valued at $945,012.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph S. Zakrzewski purchased 5,000 shares of Acceleron Pharma stock in a transaction that occurred on Friday, June 14th. The stock was acquired at an average cost of $38.05 per share, with a total value of $190,250.00. Following the acquisition, the director now directly owns 12,750 shares of the company’s stock, valued at approximately $485,137.50. The disclosure for this purchase can be found here. Corporate insiders own 2.50% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Clarfeld Financial Advisors LLC bought a new position in Acceleron Pharma during the 4th quarter worth approximately $44,000. Citizens Financial Group Inc RI bought a new position in Acceleron Pharma during the 1st quarter worth approximately $47,000. Quadrant Capital Group LLC bought a new position in Acceleron Pharma during the 1st quarter worth approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in 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 buying an additional 356 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. bought a new position in Acceleron Pharma during the 4th quarter worth approximately $157,000. 92.54% of the stock is owned by hedge funds and other institutional investors.

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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