Brokerages Expect Acceleron Pharma Inc (NASDAQ:XLRN) Will Post Quarterly Sales of $3.45 Million

Equities analysts expect Acceleron Pharma Inc (NASDAQ:XLRN) to report $3.45 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Acceleron Pharma’s earnings. The highest sales estimate is $5.00 million and the lowest is $1.83 million. Acceleron Pharma posted sales of $3.26 million in the same quarter last year, which suggests a positive year over year growth rate of 5.8%. The business is scheduled to issue its next quarterly earnings report on Tuesday, October 29th.

According to Zacks, analysts expect that Acceleron Pharma will report full year sales of $56.42 million for the current fiscal year, with estimates ranging from $34.07 million to $80.00 million. For the next fiscal year, analysts expect that the business will report sales of $90.77 million, with estimates ranging from $77.50 million to $111.40 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Acceleron Pharma.

Acceleron Pharma (NASDAQ:XLRN) last issued its quarterly earnings data on Monday, August 5th. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.10). The company had revenue of $27.67 million for the quarter, compared to analysts’ expectations of $28.72 million. Acceleron Pharma had a negative return on equity of 29.51% and a negative net margin of 318.84%. The business’s revenue for the quarter was up 649.9% on a year-over-year basis. During the same period last year, the company posted ($0.63) EPS.

Several analysts have recently commented on the stock. Morgan Stanley lowered their price target on shares of Acceleron Pharma from $52.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Friday. Citigroup reduced their price objective on shares of Acceleron Pharma from $61.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Leerink Swann dropped coverage on shares of Acceleron Pharma in a research note on Tuesday, September 17th. HC Wainwright reissued a “buy” rating and set a $68.00 price objective on shares of Acceleron Pharma in a research note on Tuesday, September 17th. Finally, BidaskClub downgraded shares of Acceleron Pharma from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Acceleron Pharma presently has an average rating of “Buy” and a consensus price target of $57.83.

Shares of XLRN stock traded up $0.57 during trading hours on Friday, hitting $38.94. The company’s stock had a trading volume of 8,690 shares, compared to its average volume of 302,678. The business has a fifty day moving average of $42.95 and a 200-day moving average of $42.36. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of -15.05 and a beta of 1.25. Acceleron Pharma has a twelve month low of $37.01 and a twelve month high of $59.08. The company has a current ratio of 17.11, a quick ratio of 17.11 and a debt-to-equity ratio of 0.05.

In related news, SVP Ravindra Kumar sold 3,389 shares of Acceleron Pharma stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $45.24, for a total value of $153,318.36. Following the sale, the senior vice president now directly owns 86,986 shares in the company, valued at approximately $3,935,246.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Adam M. Veness sold 824 shares of Acceleron Pharma stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $45.20, for a total transaction of $37,244.80. Following the completion of the sale, the vice president now owns 16,124 shares in the company, valued at $728,804.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,228 shares of company stock worth $1,138,448. Insiders own 2.50% of the company’s stock.

Large investors have recently modified their holdings of the stock. FMR LLC grew its position in Acceleron Pharma by 6.3% during the first quarter. FMR LLC now owns 7,363,953 shares of the biopharmaceutical company’s stock valued at $342,939,000 after purchasing an additional 435,414 shares in the last quarter. BlackRock Inc. lifted its stake in Acceleron Pharma by 2.6% in the second quarter. BlackRock Inc. now owns 4,921,880 shares of the biopharmaceutical company’s stock valued at $202,191,000 after acquiring an additional 124,369 shares during the last quarter. Vanguard Group Inc. lifted its stake in Acceleron Pharma by 1.9% in the second quarter. Vanguard Group Inc. now owns 4,086,713 shares of the biopharmaceutical company’s stock valued at $167,881,000 after acquiring an additional 75,465 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Acceleron Pharma by 6.5% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,377,123 shares of the biopharmaceutical company’s stock valued at $64,133,000 after acquiring an additional 84,410 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its holdings in shares of Acceleron Pharma by 3.4% in the 2nd quarter. Eagle Asset Management Inc. now owns 908,330 shares of the biopharmaceutical company’s stock valued at $37,314,000 after acquiring an additional 29,753 shares in the last quarter. Hedge funds and other institutional investors own 90.12% of the company’s stock.

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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