Acceleron Pharma (NASDAQ:XLRN) PT Lowered to $52.00 at Citigroup

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Acceleron Pharma (NASDAQ:XLRN) had its price target decreased by Citigroup from $61.00 to $52.00 in a research report report published on Tuesday morning, The Fly reports. Citigroup currently has a buy rating on the biopharmaceutical company’s stock.

Other analysts have also issued research reports about the stock. Zacks Investment Research reiterated a hold rating on shares of Acceleron Pharma in a research note on Saturday, July 20th. Goldman Sachs Group reiterated a neutral rating and issued a $54.00 target price on shares of Acceleron Pharma in a research note on Wednesday, May 29th. BidaskClub lowered shares of Acceleron Pharma from a buy rating to a hold rating in a research note on Tuesday, August 27th. JPMorgan Chase & Co. reduced their target price 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. Finally, Morgan Stanley set a $53.00 target price on shares of Acceleron Pharma and gave the stock a hold rating in a research note on Monday, July 15th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $58.60.

Shares of Acceleron Pharma stock opened at $43.29 on Tuesday. The business has a 50-day moving average of $44.54 and a 200-day moving average of $42.89. The company has a debt-to-equity ratio of 0.05, a current ratio of 17.11 and a quick ratio of 17.11. The company has a market capitalization of $2.35 billion, a PE ratio of -16.71 and a beta of 1.23. Acceleron Pharma has a 1-year low of $37.01 and a 1-year high of $59.59.

Acceleron Pharma (NASDAQ:XLRN) last announced its earnings results on Monday, August 5th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.10). Acceleron Pharma had a negative net margin of 318.84% and a negative return on equity of 29.51%. The business had revenue of $27.67 million for the quarter, compared to analyst estimates of $28.72 million. During the same quarter in the prior year, the business earned ($0.63) earnings per share. The firm’s revenue was up 649.9% on a year-over-year basis. On average, equities analysts expect that Acceleron Pharma will post -2.33 earnings per share for the current fiscal year.

In related news, VP Adam M. Veness sold 824 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $45.20, for a total transaction of $37,244.80. Following the completion of the transaction, the vice president now owns 16,124 shares in the company, valued at $728,804.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Habib J. Dable sold 5,625 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $45.23, for a total transaction of $254,418.75. Following the transaction, the chief executive officer now owns 71,227 shares of the company’s stock, valued at approximately $3,221,597.21. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 88,416 shares of company stock valued at $3,636,515. 2.50% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC grew its stake in Acceleron Pharma by 6.3% during the first quarter. FMR LLC now owns 7,363,953 shares of the biopharmaceutical company’s stock worth $342,939,000 after buying an additional 435,414 shares during the last quarter. BlackRock Inc. grew its stake in shares of Acceleron Pharma by 2.6% during the 2nd quarter. BlackRock Inc. now owns 4,921,880 shares of the biopharmaceutical company’s stock valued at $202,191,000 after acquiring an additional 124,369 shares during the period. Vanguard Group Inc. grew its stake in shares of Acceleron Pharma by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 4,086,713 shares of the biopharmaceutical company’s stock valued at $167,881,000 after acquiring an additional 75,465 shares during the period. Westfield Capital Management Co. LP grew its stake in shares of Acceleron Pharma by 6.5% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,377,123 shares of the biopharmaceutical company’s stock valued at $64,133,000 after acquiring an additional 84,410 shares during the period. Finally, TimesSquare Capital Management LLC grew its stake in shares of Acceleron Pharma by 29.5% during the 1st quarter. TimesSquare Capital Management LLC now owns 920,715 shares of the biopharmaceutical company’s stock valued at $42,878,000 after acquiring an additional 209,900 shares during the period. Institutional investors own 90.12% of the company’s stock.

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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