Acceleron Pharma Inc (NASDAQ:XLRN) major shareholder Corp /De/ Celgene purchased 706,206 shares of the business’s stock in a transaction on Friday, January 18th. The stock was purchased at an average cost of $43.00 per share, for a total transaction of $30,366,858.00. Following the acquisition, the insider now owns 6,824,685 shares in the company, valued at $293,461,455. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Shares of XLRN opened at $40.64 on Wednesday. The stock has a market cap of $1.89 billion, a PE ratio of -15.16 and a beta of 1.39. Acceleron Pharma Inc has a 1-year low of $32.53 and a 1-year high of $59.59.

Acceleron Pharma (NASDAQ:XLRN) last announced its earnings results on Tuesday, October 30th. The biopharmaceutical company reported ($0.63) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.03. The firm had revenue of $3.30 million for the quarter, compared to analyst estimates of $4.37 million. Acceleron Pharma had a negative net margin of 807.36% and a negative return on equity of 32.69%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.65) EPS. On average, sell-side analysts forecast that Acceleron Pharma Inc will post -2.51 earnings per share for the current fiscal year.

A number of equities research analysts have issued reports on XLRN shares. BidaskClub lowered shares of Acceleron Pharma from a “hold” rating to a “sell” rating in a report on Tuesday. reissued a “hold” rating on shares of Acceleron Pharma in a report on Wednesday, October 31st. Finally, HC Wainwright reissued a “buy” rating and issued a $72.00 price target on shares of Acceleron Pharma in a report on Monday, December 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $56.20.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in shares of Acceleron Pharma by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 171,104 shares of the biopharmaceutical company’s stock worth $8,302,000 after purchasing an additional 5,028 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Acceleron Pharma by 6.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 205,240 shares of the biopharmaceutical company’s stock worth $9,959,000 after purchasing an additional 12,969 shares during the period. BlackRock Inc. raised its position in shares of Acceleron Pharma by 4.3% during the second quarter. BlackRock Inc. now owns 4,205,069 shares of the biopharmaceutical company’s stock worth $204,030,000 after purchasing an additional 175,010 shares during the period. Bank of America Corp DE raised its position in shares of Acceleron Pharma by 45.5% during the second quarter. Bank of America Corp DE now owns 83,241 shares of the biopharmaceutical company’s stock worth $4,039,000 after purchasing an additional 26,046 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Acceleron Pharma during the second quarter worth $259,000. 95.78% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Further Reading: Mutual Funds

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

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