Insider Selling: Acceleron Pharma Inc. (NASDAQ:XLRN) SVP Sells 6,650 Shares of Stock

Acceleron Pharma Inc. (NASDAQ:XLRN) SVP Adam M. Veness sold 6,650 shares of the firm’s stock in a transaction dated Tuesday, September 21st. The stock was sold at an average price of $150.05, for a total transaction of $997,832.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Acceleron Pharma stock opened at $167.65 on Friday. The firm’s 50 day simple moving average is $128.41 and its 200-day simple moving average is $127.71. The company has a market cap of $10.21 billion, a P/E ratio of -44.73 and a beta of 0.35. Acceleron Pharma Inc. has a fifty-two week low of $99.98 and a fifty-two week high of $174.24.

Acceleron Pharma (NASDAQ:XLRN) last released its earnings results on Wednesday, August 4th. The biopharmaceutical company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.18). Acceleron Pharma had a negative return on equity of 26.79% and a negative net margin of 221.15%. As a group, research analysts predict that Acceleron Pharma Inc. will post -3.96 earnings per share for the current fiscal year.

XLRN has been the topic of several recent research reports. Oppenheimer lifted their price objective on shares of Acceleron Pharma from $141.00 to $160.00 and gave the company an “outperform” rating in a research report on Thursday, June 24th. SVB Leerink reiterated a “hold” rating on shares of Acceleron Pharma in a research report on Sunday, June 27th. Zacks Investment Research downgraded shares of Acceleron Pharma from a “hold” rating to a “strong sell” rating and set a $104.00 price objective on the stock. in a research report on Friday, July 23rd. Wolfe Research started coverage on shares of Acceleron Pharma in a research note on Monday, July 19th. They set a “buy” rating and a $183.00 target price on the stock. Finally, Piper Sandler raised their target price on shares of Acceleron Pharma from $143.00 to $146.00 and gave the company an “overweight” rating in a research note on Thursday, August 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $151.67.

Several institutional investors have recently added to or reduced their stakes in XLRN. Amundi Pioneer Asset Management Inc. increased its position in shares of Acceleron Pharma by 984.1% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 39,026 shares of the biopharmaceutical company’s stock worth $1,818,000 after acquiring an additional 35,426 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Acceleron Pharma by 3.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 102,131 shares of the biopharmaceutical company’s stock worth $13,067,000 after purchasing an additional 3,050 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Acceleron Pharma by 10.1% during the first quarter. Envestnet Asset Management Inc. now owns 17,740 shares of the biopharmaceutical company’s stock worth $2,406,000 after purchasing an additional 1,633 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Acceleron Pharma by 0.8% during the first quarter. Alliancebernstein L.P. now owns 27,064 shares of the biopharmaceutical company’s stock worth $3,670,000 after purchasing an additional 216 shares during the period. Finally, Arizona State Retirement System boosted its holdings in shares of Acceleron Pharma by 1.0% during the first quarter. Arizona State Retirement System now owns 14,909 shares of the biopharmaceutical company’s stock worth $2,022,000 after purchasing an additional 144 shares during the period. 87.94% of the stock is currently owned by institutional investors and hedge funds.

Acceleron Pharma Company Profile

Acceleron Pharma, Inc is a biopharmaceutical company, which engages in the discovery, development and commercialization of therapeutics to treat serious and rare diseases. Its product candidates include Luspatercept, designed to patients with chronic anemia associated within a wide range of blood diseases; ACE-083, designed for the treatment of focal muscle disorders; and Sotatercept, designed to treat pulmonary arterial hypertension.

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Insider Buying and Selling by Quarter for Acceleron Pharma (NASDAQ:XLRN)

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