Acceleron Pharma (NASDAQ:XLRN) Issues Quarterly Earnings Results

Acceleron Pharma (NASDAQ:XLRN) announced its quarterly earnings data on Wednesday. The biopharmaceutical company reported ($0.86) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.83) by ($0.03), Briefing.com reports. The company had revenue of $4.20 million for the quarter, compared to analyst estimates of $4.44 million. Acceleron Pharma had a negative return on equity of 29.51% and a negative net margin of 318.84%. Acceleron Pharma’s revenue was up 27.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.63) earnings per share.

Shares of XLRN stock traded up $2.88 during midday trading on Friday, reaching $43.49. 25,304 shares of the company were exchanged, compared to its average volume of 241,862. Acceleron Pharma has a 12 month low of $37.01 and a 12 month high of $59.08. The company has a market cap of $2.51 billion, a P/E ratio of -16.80 and a beta of 1.23. The company’s 50 day moving average price is $42.01 and its two-hundred day moving average price is $42.14. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.11 and a current ratio of 17.11.

A number of research analysts have recently issued reports on XLRN shares. Citigroup reduced their price target on shares of Acceleron Pharma from $61.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Zacks Investment Research reiterated a “hold” rating on shares of Acceleron Pharma in a research report on Saturday, July 20th. JPMorgan Chase & Co. cut their price objective on shares of Acceleron Pharma from $61.00 to $58.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Credit Suisse Group set a $58.00 price objective on shares of Acceleron Pharma and gave the company a “buy” rating in a research report on Monday, August 26th. Finally, Piper Jaffray Companies set a $71.00 price objective on shares of Acceleron Pharma and gave the company a “buy” rating in a research report on Monday, October 21st. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $57.58.

In other Acceleron Pharma news, SVP Ravindra Kumar sold 3,389 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $45.24, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Habib J. Dable sold 5,625 shares of Acceleron Pharma stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $45.23, for a total transaction of $254,418.75. Following the completion of the transaction, the chief executive officer now directly owns 71,227 shares in the company, valued at approximately $3,221,597.21. The disclosure for this sale can be found here. Insiders have sold a total of 21,422 shares of company stock worth $969,486 over the last 90 days. 2.50% of the stock is owned by insiders.

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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