Acceleron Pharma (NASDAQ:XLRN) Issues Quarterly Earnings Results

Acceleron Pharma (NASDAQ:XLRN) released its quarterly earnings data on Monday. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.10), Briefing.com reports. The company had revenue of $27.67 million during the quarter, compared to analysts’ expectations of $28.72 million. Acceleron Pharma had a negative net margin of 965.39% and a negative return on equity of 35.94%. Acceleron Pharma’s quarterly revenue was up 649.9% on a year-over-year basis. During the same period last year, the firm earned ($0.63) earnings per share.

Acceleron Pharma stock traded up $0.60 during mid-day trading on Tuesday, reaching $42.09. 20,900 shares of the company traded hands, compared to its average volume of 278,499. The company has a quick ratio of 19.26, a current ratio of 19.26 and a debt-to-equity ratio of 0.05. Acceleron Pharma has a fifty-two week low of $37.01 and a fifty-two week high of $59.59. The firm has a market capitalization of $2.19 billion, a P/E ratio of -16.26 and a beta of 1.18. The company has a fifty day moving average price of $41.70.

Several equities research analysts have recently commented on XLRN shares. Zacks Investment Research restated a “hold” rating on shares of Acceleron Pharma in a report on Saturday, July 20th. ValuEngine lowered shares of Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 18th. HC Wainwright reiterated a “buy” rating and set a $69.00 price objective on shares of Acceleron Pharma in a research note on Tuesday, June 4th. JPMorgan Chase & Co. reduced their price objective on shares of Acceleron Pharma from $61.00 to $58.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, BidaskClub upgraded shares of Acceleron Pharma from a “sell” rating to a “hold” rating in a research note on Friday. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $60.33.

In other Acceleron Pharma news, Director Jean George sold 37,500 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $39.79, for a total transaction of $1,492,125.00. Following the transaction, the director now owns 23,750 shares in the company, valued at approximately $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 the business’s stock in a transaction on Friday, June 14th. The shares were bought at an average price of $38.05 per share, for a total transaction of $190,250.00. Following the purchase, the director now directly owns 12,750 shares in the company, valued at approximately $485,137.50. The disclosure for this purchase can be found here. Insiders have sold a total of 63,726 shares of company stock worth $2,519,969 in the last 90 days. 2.50% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in XLRN. Bank of America Corp DE increased its position in Acceleron Pharma by 14.5% in the fourth quarter. Bank of America Corp DE now owns 50,209 shares of the biopharmaceutical company’s stock worth $2,187,000 after buying an additional 6,366 shares during the period. Amundi Pioneer Asset Management Inc. bought a new position in Acceleron Pharma during the fourth quarter valued at about $157,000. Legal & General Group Plc boosted its stake in Acceleron Pharma by 22.8% during the fourth quarter. Legal & General Group Plc now owns 16,608 shares of the biopharmaceutical company’s stock valued at $723,000 after buying an additional 3,087 shares in the last quarter. Amalgamated Bank bought a new position in Acceleron Pharma during the fourth quarter valued at about $242,000. Finally, Norges Bank bought a new position in Acceleron Pharma during the fourth quarter valued at about $17,535,000. 92.52% of the stock is currently owned by institutional investors and hedge funds.

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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Earnings History for Acceleron Pharma (NASDAQ:XLRN)

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