Principal Financial Group Inc. Sells 733 Shares of Acceleron Pharma Inc. (NASDAQ:XLRN)

Principal Financial Group Inc. reduced its holdings in shares of Acceleron Pharma Inc. (NASDAQ:XLRN) by 0.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 161,478 shares of the biopharmaceutical company’s stock after selling 733 shares during the quarter. Principal Financial Group Inc. owned 0.27% of Acceleron Pharma worth $18,171,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Nisa Investment Advisors LLC grew its holdings in shares of Acceleron Pharma by 4.2% during the third quarter. Nisa Investment Advisors LLC now owns 3,726 shares of the biopharmaceutical company’s stock valued at $419,000 after buying an additional 150 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Acceleron Pharma by 6.4% during the second quarter. Bank of Montreal Can now owns 2,505 shares of the biopharmaceutical company’s stock valued at $252,000 after buying an additional 151 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Acceleron Pharma by 5.8% during the second quarter. PNC Financial Services Group Inc. now owns 6,486 shares of the biopharmaceutical company’s stock valued at $618,000 after buying an additional 355 shares during the last quarter. First Mercantile Trust Co. acquired a new position in shares of Acceleron Pharma during the second quarter valued at about $47,000. Finally, NorthRock Partners LLC grew its holdings in shares of Acceleron Pharma by 20.0% during the second quarter. NorthRock Partners LLC now owns 3,000 shares of the biopharmaceutical company’s stock valued at $286,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 79.78% of the company’s stock.

A number of brokerages have recently issued reports on XLRN. Morgan Stanley lifted their price objective on shares of Acceleron Pharma from $125.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, November 6th. Raymond James began coverage on shares of Acceleron Pharma in a report on Monday, August 24th. They set a “strong-buy” rating and a $155.00 price target on the stock. HC Wainwright boosted their price target on shares of Acceleron Pharma from $137.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, November 6th. Oppenheimer boosted their price target on shares of Acceleron Pharma from $120.00 to $131.00 and gave the stock an “outperform” rating in a report on Monday, November 16th. Finally, ValuEngine upgraded shares of Acceleron Pharma from a “hold” rating to a “buy” rating in a report on Thursday, October 1st. Two analysts have rated the stock with a sell rating, one has issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $126.92.

Shares of Acceleron Pharma stock opened at $113.54 on Friday. Acceleron Pharma Inc. has a 52-week low of $42.66 and a 52-week high of $124.01. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of -43.84 and a beta of 0.59. The company has a fifty day moving average of $112.10 and a 200-day moving average of $102.16.

Acceleron Pharma (NASDAQ:XLRN) last announced its quarterly earnings data on Tuesday, November 10th. The biopharmaceutical company reported ($0.66) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.61) by ($0.05). Acceleron Pharma had a negative net margin of 157.84% and a negative return on equity of 31.62%. The business had revenue of $22.60 million during the quarter, compared to analysts’ expectations of $26.52 million. During the same period last year, the company posted ($0.86) EPS. Acceleron Pharma’s revenue for the quarter was up 438.1% on a year-over-year basis. On average, analysts predict that Acceleron Pharma Inc. will post -2.47 earnings per share for the current year.

In other Acceleron Pharma news, Director Terrence C. Kearney sold 37,500 shares of the stock in a transaction on Monday, October 12th. The shares were sold at an average price of $119.36, for a total transaction of $4,476,000.00. Following the completion of the sale, the director now owns 25,127 shares of the company’s stock, valued at approximately $2,999,158.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Adam M. Veness sold 2,000 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $89.50, for a total transaction of $179,000.00. Following the sale, the senior vice president now directly owns 20,090 shares of the company’s stock, valued at approximately $1,798,055. The disclosure for this sale can be found here. Insiders have sold a total of 62,772 shares of company stock valued at $6,758,556 in the last three months. 2.50% of the stock is currently owned by corporate insiders.

Acceleron Pharma Company Profile

Acceleron Pharma Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics to treat serious and rare diseases. It offers luspatercept-aamt for the treatment of anemia in adult patients with beta-thalassemia under the REBLOZYL name. The company also develops luspatercept-aamt for the treatment of myelodysplastic syndromes and myelofibrosis; Sotatercept for the treatment of patients with pulmonary arterial hypertension; and ACE-083, a neuromuscular candidate that is in Phase II clinical trials for the treatment of patients with Charcot-Marie-Tooth disease.

Recommended Story: Overbought

Institutional Ownership by Quarter for Acceleron Pharma (NASDAQ:XLRN)

Receive News & Ratings for Acceleron Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acceleron Pharma and related companies with MarketBeat.com's FREE daily email newsletter.