$27.14 Million in Sales Expected for Acceleron Pharma Inc (NASDAQ:XLRN) This Quarter

Share on StockTwits

Wall Street analysts expect Acceleron Pharma Inc (NASDAQ:XLRN) to announce $27.14 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Acceleron Pharma’s earnings. The lowest sales estimate is $25.00 million and the highest is $28.40 million. Acceleron Pharma posted sales of $3.69 million in the same quarter last year, which would indicate a positive year over year growth rate of 635.5%. The business is expected to report its next earnings report on Thursday, August 1st.

According to Zacks, analysts expect that Acceleron Pharma will report full year sales of $37.31 million for the current financial year, with estimates ranging from $27.80 million to $53.00 million. For the next financial year, analysts forecast that the firm will report sales of $100.06 million, with estimates ranging from $80.70 million to $115.80 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Acceleron Pharma.

Acceleron Pharma (NASDAQ:XLRN) last released its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.07). Acceleron Pharma had a negative return on equity of 35.94% and a negative net margin of 965.39%. The company had revenue of $2.78 million during the quarter, compared to analysts’ expectations of $3.67 million. During the same period last year, the firm posted ($0.58) EPS. Acceleron Pharma’s quarterly revenue was down 13.9% compared to the same quarter last year.

Several brokerages recently weighed in on XLRN. Citigroup set a $27.00 price target on shares of PhaseBio Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, May 24th. Zacks Investment Research restated a “sell” rating on shares of ZALANDO SE/ADR in a research report on Sunday, June 30th. Piper Jaffray Companies lowered their price objective on Motus GI from $8.00 to $6.00 in a research report on Friday, May 10th. Barclays set a $24.00 price objective on Orion Engineered Carbons and gave the stock a “hold” rating in a research report on Friday, May 3rd. Finally, HC Wainwright restated a “buy” rating and issued a $25.00 price objective on shares of Aurinia Pharmaceuticals in a research report on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $60.88.

Shares of XLRN stock traded up $0.30 during mid-day trading on Friday, hitting $40.86. The company had a trading volume of 221,843 shares, compared to its average volume of 359,111. The company has a 50 day simple moving average of $40.47. Acceleron Pharma has a 52-week low of $37.01 and a 52-week high of $59.59. The stock has a market capitalization of $2.14 billion, a P/E ratio of -15.78 and a beta of 1.21. The company has a debt-to-equity ratio of 0.05, a current ratio of 19.26 and a quick ratio of 19.26.

In other news, Director Jean George sold 25,688 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $39.16, for a total transaction of $1,005,942.08. Following the transaction, the director now owns 23,750 shares in the company, valued at approximately $930,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph S. Zakrzewski bought 5,000 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were acquired at an average price of $38.05 per share, for a total transaction of $190,250.00. Following the transaction, the director now directly owns 12,750 shares in the company, valued at $485,137.50. The disclosure for this purchase can be found here. Company insiders own 2.50% of the company’s stock.

Large investors have recently made changes to their positions in the company. Comerica Bank lifted its stake in Acceleron Pharma by 1.2% during the fourth quarter. Comerica Bank now owns 24,369 shares of the biopharmaceutical company’s stock worth $964,000 after purchasing an additional 290 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Acceleron Pharma by 24.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the biopharmaceutical company’s stock valued at $323,000 after purchasing an additional 1,460 shares during the last quarter. BlackRock Inc. boosted its position in Acceleron Pharma by 1.9% during the fourth quarter. BlackRock Inc. now owns 4,428,894 shares of the biopharmaceutical company’s stock valued at $192,880,000 after purchasing an additional 81,002 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Acceleron Pharma by 132.1% during the fourth quarter. Bank of New York Mellon Corp now owns 439,644 shares of the biopharmaceutical company’s stock valued at $19,147,000 after purchasing an additional 250,254 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in Acceleron Pharma during the fourth quarter valued at $223,000. Hedge funds and other institutional investors own 92.54% 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.

Read More: Cost of equity and a company’s balance sheet

Get a free copy of the Zacks research report on Acceleron Pharma (XLRN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Acceleron Pharma (NASDAQ:XLRN)

Receive News & Ratings for Acceleron Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acceleron Pharma and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.