Stock Traders Buy High Volume of Put Options on Acceleron Pharma (NASDAQ:XLRN)

Acceleron Pharma Inc. (NASDAQ:XLRN) was the recipient of unusually large options trading activity on Thursday. Traders bought 1,518 put options on the company. This is an increase of approximately 1,751% compared to the typical volume of 82 put options.

In other news, Director Joseph S. Zakrzewski sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 5th. The stock was sold at an average price of $140.73, for a total value of $1,407,300.00. Following the completion of the transaction, the director now owns 44,499 shares of the company’s stock, valued at $6,262,344.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas A. Mccourt sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, April 19th. The shares were sold at an average price of $119.26, for a total value of $894,450.00. Following the completion of the transaction, the director now directly owns 13,544 shares of the company’s stock, valued at approximately $1,615,257.44. The disclosure for this sale can be found here. Insiders sold 27,500 shares of company stock valued at $3,648,150 in the last three months. Company insiders own 2.50% of the company’s stock.

Large investors have recently modified their holdings of the business. State of Alaska Department of Revenue lifted its stake in Acceleron Pharma by 20.3% during the 1st quarter. State of Alaska Department of Revenue now owns 576 shares of the biopharmaceutical company’s stock valued at $78,000 after acquiring an additional 97 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Acceleron Pharma during the 4th quarter worth $76,000. Canada Pension Plan Investment Board bought a new stake in shares of Acceleron Pharma during the 4th quarter worth $85,000. Chiron Capital Management LLC bought a new stake in shares of Acceleron Pharma during the 3rd quarter worth $84,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Acceleron Pharma during the 4th quarter worth $106,000. Institutional investors and hedge funds own 79.78% of the company’s stock.

XLRN has been the subject of a number of recent analyst reports. HC Wainwright increased their target price on shares of Acceleron Pharma from $148.00 to $168.00 and gave the company a “buy” rating in a research report on Tuesday, January 19th. Zacks Investment Research downgraded shares of Acceleron Pharma from a “hold” rating to a “sell” rating and set a $127.00 target price for the company. in a research report on Wednesday, January 27th. Wolfe Research initiated coverage on shares of Acceleron Pharma in a research report on Wednesday, March 17th. They set an “outperform” rating and a $200.00 target price for the company. Piper Sandler increased their target price on shares of Acceleron Pharma from $130.00 to $143.00 and gave the company an “overweight” rating in a research report on Thursday, March 4th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Acceleron Pharma from $133.00 to $153.00 and gave the stock an “overweight” rating in a research report on Friday, January 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $146.80.

Shares of XLRN opened at $122.30 on Friday. Acceleron Pharma has a 12-month low of $85.32 and a 12-month high of $146.15. The business’s fifty day moving average is $131.72 and its 200 day moving average is $124.00. The stock has a market cap of $7.41 billion, a P/E ratio of -47.22 and a beta of 0.59.

Acceleron Pharma (NASDAQ:XLRN) last issued its quarterly earnings data on Thursday, February 25th. The biopharmaceutical company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.29). Acceleron Pharma had a negative net margin of 157.84% and a negative return on equity of 31.62%. The company had revenue of $25.87 million for the quarter, compared to the consensus estimate of $25.68 million. Analysts anticipate that Acceleron Pharma will post -2.47 earnings per share for the current fiscal year.

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 REBLOZYL (luspatercept-aamt), a first-in-class erythroid maturation agent, for the treatment of anemia in adult patients with beta-thalassemia and transfusion-dependent anemia.

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