Acceleron Pharma Inc (NASDAQ:XLRN) Expected to Post Quarterly Sales of $3.45 Million

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Wall Street brokerages forecast that Acceleron Pharma Inc (NASDAQ:XLRN) will post $3.45 million in sales for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Acceleron Pharma’s earnings. The lowest sales estimate is $1.83 million and the highest is $5.00 million. Acceleron Pharma posted sales of $3.26 million during the same quarter last year, which suggests a positive year over year growth rate of 5.8%. The firm is scheduled to issue its next earnings results on Tuesday, October 29th.

According to Zacks, analysts expect that Acceleron Pharma will report full-year sales of $56.42 million for the current year, with estimates ranging from $34.07 million to $80.00 million. For the next financial year, analysts anticipate that the firm will report sales of $90.77 million, with estimates ranging from $77.50 million to $111.40 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Acceleron Pharma.

Acceleron Pharma (NASDAQ:XLRN) last announced its earnings results on Monday, August 5th. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.10). Acceleron Pharma had a negative return on equity of 29.51% and a negative net margin of 318.84%. The firm had revenue of $27.67 million for the quarter, compared to analyst estimates of $28.72 million. During the same quarter last year, the business posted ($0.63) EPS. The firm’s revenue was up 649.9% compared to the same quarter last year.

A number of analysts recently issued reports on XLRN shares. Zacks Investment Research restated a “hold” rating on shares of Acceleron Pharma in a research report on Saturday, July 20th. Leerink Swann dropped coverage on shares of Acceleron Pharma in a research report on Tuesday, September 17th. Morgan Stanley decreased their target price on shares of Acceleron Pharma from $52.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Friday. HC Wainwright restated a “buy” rating and set a $68.00 target price on shares of Acceleron Pharma in a research report on Tuesday, September 17th. Finally, Citigroup decreased their target price on shares of Acceleron Pharma from $61.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $57.83.

In other Acceleron Pharma news, VP Adam M. Veness sold 3,268 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $45.00, for a total transaction of $147,060.00. Following the transaction, the vice president now owns 16,925 shares of the company’s stock, valued at $761,625. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Adam M. Veness sold 824 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $45.20, for a total transaction of $37,244.80. Following the transaction, the vice president now directly owns 16,124 shares in the company, valued at approximately $728,804.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,228 shares of company stock worth $1,138,448. 2.50% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of the business. FMR LLC raised its stake in Acceleron Pharma by 6.3% during the first quarter. FMR LLC now owns 7,363,953 shares of the biopharmaceutical company’s stock worth $342,939,000 after purchasing an additional 435,414 shares during the period. BlackRock Inc. raised its stake in shares of Acceleron Pharma by 2.6% in the 2nd quarter. BlackRock Inc. now owns 4,921,880 shares of the biopharmaceutical company’s stock valued at $202,191,000 after acquiring an additional 124,369 shares during the period. Vanguard Group Inc. raised its stake in shares of Acceleron Pharma by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 4,086,713 shares of the biopharmaceutical company’s stock valued at $167,881,000 after acquiring an additional 75,465 shares during the period. Westfield Capital Management Co. LP raised its stake in shares of Acceleron Pharma by 6.5% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,377,123 shares of the biopharmaceutical company’s stock valued at $64,133,000 after acquiring an additional 84,410 shares during the period. Finally, Eagle Asset Management Inc. raised its stake in shares of Acceleron Pharma by 3.4% in the 2nd quarter. Eagle Asset Management Inc. now owns 908,330 shares of the biopharmaceutical company’s stock valued at $37,314,000 after acquiring an additional 29,753 shares during the period. 90.12% of the stock is currently owned by institutional investors.

NASDAQ XLRN traded up $0.57 during mid-day trading on Friday, reaching $38.94. 8,690 shares of the stock were exchanged, compared to its average volume of 302,678. Acceleron Pharma has a 1-year low of $37.01 and a 1-year high of $59.08. The business’s fifty day simple moving average is $42.95 and its 200 day simple moving average is $42.36. The stock has a market capitalization of $2.13 billion, a PE ratio of -15.05 and a beta of 1.25. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.11 and a current ratio of 17.11.

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.

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