BidaskClub upgraded shares of Acceleron Pharma (NASDAQ:XLRN) from a hold rating to a buy rating in a research note issued to investors on Saturday, BidAskClub reports.

XLRN has been the topic of a number of other reports. Oppenheimer reaffirmed an outperform rating on shares of Acceleron Pharma in a research report on Monday, April 22nd. Morgan Stanley set a $53.00 price objective on shares of Acceleron Pharma and gave the company a hold rating in a research report on Monday, July 15th. Goldman Sachs Group reaffirmed a neutral rating and set a $54.00 price objective on shares of Acceleron Pharma in a research report on Wednesday, May 29th. HC Wainwright reaffirmed a buy rating and set a $69.00 price objective on shares of Acceleron Pharma in a research report on Tuesday, June 4th. Finally, Zacks Investment Research reaffirmed a hold rating on shares of Acceleron Pharma in a research report on Saturday, July 20th. Five 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 stock. Acceleron Pharma currently has an average rating of Buy and an average price target of $60.33.

Acceleron Pharma stock opened at $45.76 on Friday. The firm’s 50 day simple moving average is $43.03 and its 200-day simple moving average is $42.67. The company has a market cap of $2.42 billion, a P/E ratio of -17.67 and a beta of 1.18. The company has a debt-to-equity ratio of 0.05, a current ratio of 17.11 and a quick ratio of 17.11. Acceleron Pharma has a fifty-two week low of $37.01 and a fifty-two week high of $59.59.

Acceleron Pharma (NASDAQ:XLRN) last announced its quarterly earnings data on Monday, August 5th. The biopharmaceutical company reported ($0.34) EPS for the quarter, missing the Zacks’ 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 company had revenue of $27.67 million for the quarter, compared to analysts’ expectations of $28.72 million. During the same period in the previous year, the firm posted ($0.63) earnings per share. The business’s revenue for the quarter was up 649.9% on a year-over-year basis. On average, analysts expect that Acceleron Pharma will post -2.33 EPS for the current fiscal year.

In other Acceleron Pharma news, VP Adam M. Veness sold 3,268 shares of Acceleron Pharma stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $45.00, for a total value of $147,060.00. Following the completion of the sale, the vice president now directly owns 16,925 shares in the company, valued at $761,625. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jean George sold 37,500 shares of Acceleron Pharma stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $39.79, for a total transaction of $1,492,125.00. Following the completion of the sale, the director now owns 23,750 shares of the company’s stock, valued at $945,012.50. The disclosure for this sale can be found here. Insiders sold 66,994 shares of company stock valued at $2,667,029 over the last quarter. Corporate insiders own 2.50% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quadrant Capital Group LLC acquired a new stake in Acceleron Pharma in the first quarter valued at approximately $46,000. Citizens Financial Group Inc RI acquired a new stake in Acceleron Pharma in the first quarter valued at approximately $47,000. Tower Research Capital LLC TRC acquired a new stake in Acceleron Pharma in the second quarter valued at approximately $89,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Acceleron Pharma by 13.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,958 shares of the biopharmaceutical company’s stock valued at $138,000 after acquiring an additional 356 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in Acceleron Pharma by 4,163.0% in the second quarter. Bank of Montreal Can now owns 3,922 shares of the biopharmaceutical company’s stock valued at $161,000 after acquiring an additional 3,830 shares during the last quarter. Hedge funds and other institutional investors own 91.23% 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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Analyst Recommendations for Acceleron Pharma (NASDAQ:XLRN)

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