Acceleron Pharma Inc (NASDAQ:XLRN) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $55.25 and last traded at $53.34, with a volume of 21631 shares trading hands. The stock had previously closed at $54.53.

A number of brokerages recently issued reports on XLRN. Piper Jaffray Companies raised Acceleron Pharma from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $52.00 to $75.00 in a research note on Monday. BidaskClub raised Acceleron Pharma from a “strong sell” rating to a “sell” rating in a research note on Friday, June 15th. Morgan Stanley began coverage on Acceleron Pharma in a research note on Monday, September 10th. They set an “equal weight” rating and a $55.00 price target for the company. Credit Suisse Group raised their price target on Acceleron Pharma from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, June 29th. Finally, Cann reissued a “hold” rating on shares of Acceleron Pharma in a research note on Thursday, June 28th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $56.30.

The firm has a market capitalization of $2.39 billion, a P/E ratio of -19.38 and a beta of 1.38.

Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings data on Thursday, August 2nd. The biopharmaceutical company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.64) by $0.01. Acceleron Pharma had a negative return on equity of 30.78% and a negative net margin of 795.94%. The company had revenue of $3.69 million for the quarter, compared to the consensus estimate of $3.37 million. During the same period last year, the business posted ($0.77) EPS. Acceleron Pharma’s quarterly revenue was up 20.5% on a year-over-year basis. analysts expect that Acceleron Pharma Inc will post -2.51 earnings per share for the current fiscal year.

In other news, CFO Kevin F. Mclaughlin sold 25,000 shares of Acceleron Pharma stock in a transaction on Friday, June 29th. The stock was sold at an average price of $48.00, for a total value of $1,200,000.00. Following the transaction, the chief financial officer now directly owns 68,939 shares in the company, valued at approximately $3,309,072. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin F. Mclaughlin sold 12,500 shares of Acceleron Pharma stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $54.00, for a total value of $675,000.00. Following the completion of the transaction, the chief financial officer now owns 56,439 shares in the company, valued at $3,047,706. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.

Large investors have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System increased its holdings in shares of Acceleron Pharma by 14.4% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 21,751 shares of the biopharmaceutical company’s stock valued at $1,055,000 after acquiring an additional 2,740 shares during the period. Crawford Lake Capital Management LLC purchased a new position in shares of Acceleron Pharma in the 2nd quarter valued at $927,000. Swiss National Bank increased its holdings in shares of Acceleron Pharma by 8.2% in the 1st quarter. Swiss National Bank now owns 67,400 shares of the biopharmaceutical company’s stock valued at $2,635,000 after acquiring an additional 5,100 shares during the period. Wealthstreet Investment Advisors LLC increased its holdings in shares of Acceleron Pharma by 70.3% in the 2nd quarter. Wealthstreet Investment Advisors LLC now owns 14,650 shares of the biopharmaceutical company’s stock valued at $711,000 after acquiring an additional 6,050 shares during the period. Finally, Janus Henderson Group PLC purchased a new position in Acceleron Pharma during the 2nd quarter worth $59,835,000. Institutional investors and hedge funds own 88.67% of the company’s stock.

Acceleron Pharma Company Profile (NASDAQ:XLRN)

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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