Acceleron Pharma Inc (XLRN) Expected to Announce Quarterly Sales of $3.39 Million
Analysts expect that Acceleron Pharma Inc (NASDAQ:XLRN) will post $3.39 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Acceleron Pharma’s earnings. The lowest sales estimate is $2.76 million and the highest is $4.50 million. Acceleron Pharma reported sales of $3.37 million during the same quarter last year, which would suggest a positive year over year growth rate of 0.6%. The business is expected to announce its next earnings report on Wednesday, March 7th.
According to Zacks, analysts expect that Acceleron Pharma will report full-year sales of $3.39 million for the current financial year, with estimates ranging from $12.54 million to $14.27 million. For the next financial year, analysts expect that the company will post sales of $27.28 million per share, with estimates ranging from $13.20 million to $37.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Acceleron Pharma.
A number of brokerages have recently issued reports on XLRN. HC Wainwright reaffirmed a “buy” rating and set a $62.00 price objective on shares of Acceleron Pharma in a research note on Monday, December 11th. Oppenheimer reaffirmed a “hold” rating on shares of Acceleron Pharma in a research note on Monday, January 8th. BidaskClub raised Acceleron Pharma from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Royal Bank of Canada reaffirmed a “hold” rating on shares of Acceleron Pharma in a research note on Thursday, November 2nd. Finally, Credit Suisse Group set a $51.00 price objective on Acceleron Pharma and gave the company a “buy” rating in a research note on Tuesday, November 14th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. Acceleron Pharma presently has a consensus rating of “Hold” and an average target price of $44.81.
Institutional investors and hedge funds have recently modified their holdings of the business. Quantbot Technologies LP lifted its holdings in Acceleron Pharma by 416.3% in the third quarter. Quantbot Technologies LP now owns 2,917 shares of the biopharmaceutical company’s stock worth $108,000 after buying an additional 2,352 shares during the period. Public Employees Retirement Association of Colorado purchased a new stake in Acceleron Pharma in the fourth quarter worth about $138,000. Oppenheimer & Co. Inc. purchased a new stake in Acceleron Pharma in the third quarter worth about $225,000. Trexquant Investment LP purchased a new stake in Acceleron Pharma in the third quarter worth about $266,000. Finally, Bailard Inc. purchased a new stake in Acceleron Pharma in the fourth quarter worth about $340,000. Institutional investors and hedge funds own 85.81% of the company’s stock.
Shares of Acceleron Pharma (NASDAQ:XLRN) traded up $0.26 during trading hours on Friday, hitting $39.23. The stock had a trading volume of 298,300 shares, compared to its average volume of 324,471. Acceleron Pharma has a 52-week low of $24.37 and a 52-week high of $46.93. The company has a market capitalization of $1,774.57, a PE ratio of -15.15 and a beta of 1.45.
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Acceleron Pharma Company Profile
Acceleron Pharma Inc is a clinical-stage biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapeutics to treat serious and rare diseases. Its research focuses on key natural regulators of cellular growth and repair, particularly the Transforming Growth Factor-Beta (TGF-beta), protein superfamily.
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