Acceleron Pharma (NASDAQ:XLRN) announced its earnings results on Tuesday. The biopharmaceutical company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.66) by $0.03, MarketWatch Earnings reports. The company had revenue of $3.30 million for the quarter, compared to analysts’ expectations of $4.37 million. Acceleron Pharma had a negative return on equity of 30.78% and a negative net margin of 795.94%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.65) earnings per share.
Acceleron Pharma stock traded up $1.83 during mid-day trading on Wednesday, hitting $49.96. The stock had a trading volume of 14,449 shares, compared to its average volume of 334,223. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of -19.20 and a beta of 1.38. Acceleron Pharma has a 12 month low of $32.53 and a 12 month high of $59.59.
Several brokerages have recently commented on XLRN. MED restated a “positive” rating on shares of Acceleron Pharma in a report on Friday, July 13th. Cann restated a “hold” rating on shares of Acceleron Pharma in a report on Wednesday. Piper Jaffray Companies cut Acceleron Pharma from an “overweight” rating to a “neutral” rating and set a $32.00 target price on the stock. in a report on Tuesday, July 10th. UBS Group increased their target price on Acceleron Pharma to $62.00 and gave the stock a “buy” rating in a report on Tuesday, July 10th. Finally, BidaskClub upgraded Acceleron Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, August 28th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $56.30.
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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