Eagle Asset Management Inc. lessened its stake in Acceleron Pharma Inc. (NASDAQ:XLRN) by 0.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 460,253 shares of the biopharmaceutical company’s stock after selling 153 shares during the period. Eagle Asset Management Inc.’s holdings in Acceleron Pharma were worth $57,757,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of XLRN. Capital Analysts LLC purchased a new position in Acceleron Pharma during the 1st quarter valued at about $30,000. Russell Investments Group Ltd. acquired a new stake in Acceleron Pharma in the 1st quarter worth approximately $38,000. Eaton Vance Management acquired a new stake in Acceleron Pharma in the 1st quarter worth approximately $86,000. BNP Paribas Arbitrage SA lifted its stake in Acceleron Pharma by 915.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 782 shares of the biopharmaceutical company’s stock valued at $98,000 after acquiring an additional 705 shares during the period. Finally, Panagora Asset Management Inc. acquired a new stake in Acceleron Pharma during the 1st quarter valued at approximately $121,000. 87.94% of the stock is currently owned by institutional investors.
A number of analysts have recently issued reports on the company. SVB Leerink reaffirmed a “hold” rating on shares of Acceleron Pharma in a research note on Sunday, June 27th. Piper Sandler raised their target price on Acceleron Pharma from $143.00 to $146.00 and gave the stock an “overweight” rating in a research note on Thursday, August 5th. Wolfe Research initiated coverage on Acceleron Pharma in a research note on Monday, July 19th. They set a “buy” rating and a $183.00 target price for the company. Zacks Investment Research cut Acceleron Pharma from a “hold” rating to a “strong sell” rating and set a $104.00 price objective for the company. in a research note on Friday, July 23rd. Finally, Oppenheimer lifted their target price on Acceleron Pharma from $141.00 to $160.00 and gave the company an “outperform” rating in a report on Thursday, June 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Acceleron Pharma currently has an average rating of “Buy” and a consensus price target of $151.67.
Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings results on Wednesday, August 4th. The biopharmaceutical company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.18). Acceleron Pharma had a negative return on equity of 26.79% and a negative net margin of 221.15%. Research analysts expect that Acceleron Pharma Inc. will post -3.96 EPS for the current year.
In related news, CEO Habib J. Dable sold 57,814 shares of the business’s stock in a transaction that occurred on Thursday, July 1st. The stock was sold at an average price of $126.73, for a total transaction of $7,326,768.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.70% of the company’s stock.
Acceleron Pharma Company Profile
Acceleron Pharma, Inc is a biopharmaceutical company, which engages in the discovery, development and commercialization of therapeutics to treat serious and rare diseases. Its product candidates include Luspatercept, designed to patients with chronic anemia associated within a wide range of blood diseases; ACE-083, designed for the treatment of focal muscle disorders; and Sotatercept, designed to treat pulmonary arterial hypertension.
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