Acceleron Pharma (NASDAQ:XLRN) Given Buy Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Acceleron Pharma (NASDAQ:XLRN) in a research report released on Monday, The Fly reports. HC Wainwright currently has a $88.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $68.00.

XLRN has been the subject of a number of other reports. Leerink Swann dropped coverage on shares of Acceleron Pharma in a research note on Tuesday, September 17th. Zacks Investment Research reiterated a hold rating on shares of Acceleron Pharma in a research note on Saturday, July 20th. JPMorgan Chase & Co. reduced their price target 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, August 6th. Citigroup reduced their price target on shares of Acceleron Pharma from $61.00 to $52.00 and set a buy rating for the company in a research note on Tuesday, September 17th. Finally, BidaskClub upgraded shares of Acceleron Pharma from a sell rating to a hold rating in a research note on Friday, October 18th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Buy and an average target price of $59.25.

NASDAQ:XLRN traded down $2.02 on Monday, reaching $40.97. 507,300 shares of the stock traded hands, compared to its average volume of 355,570. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of -15.82 and a beta of 1.23. The company has a current ratio of 14.02, a quick ratio of 14.02 and a debt-to-equity ratio of 0.05. Acceleron Pharma has a 12 month low of $37.01 and a 12 month high of $56.91. The company’s fifty day simple moving average is $42.07 and its 200 day simple moving average is $42.23.

Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.03). The firm had revenue of $4.20 million for the quarter, compared to the consensus estimate of $4.44 million. Acceleron Pharma had a negative net margin of 353.57% and a negative return on equity of 30.79%. The firm’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.63) earnings per share. Equities analysts anticipate that Acceleron Pharma will post -2.22 EPS for the current fiscal year.

In related news, VP Adam M. Veness sold 824 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $45.20, for a total value of $37,244.80. Following the transaction, the vice president now owns 16,124 shares of the company’s stock, valued at $728,804.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Habib J. Dable sold 5,625 shares of the firm’s 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 sold 21,422 shares of company stock valued at $969,486 over the last quarter. Company insiders own 2.50% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of XLRN. Tower Research Capital LLC TRC purchased a new position in shares of Acceleron Pharma in the second quarter worth approximately $89,000. Convergence Investment Partners LLC purchased a new position in shares of Acceleron Pharma in the third quarter worth approximately $149,000. Bank of Montreal Can boosted its holdings in shares of Acceleron Pharma by 4,163.0% in the second quarter. Bank of Montreal Can now owns 3,922 shares of the biopharmaceutical company’s stock worth $161,000 after buying an additional 3,830 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Acceleron Pharma by 1,947.6% in the third quarter. Nisa Investment Advisors LLC now owns 4,300 shares of the biopharmaceutical company’s stock worth $170,000 after buying an additional 4,090 shares during the last quarter. Finally, Aperio Group LLC purchased a new position in shares of Acceleron Pharma in the second quarter worth approximately $190,000. 90.69% of the stock is currently owned by 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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