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.
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.
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