“Acceleron announced today preliminary results from the first two cohorts in Part 1 of the phase II clinical study of ACE-083 in patients with facioscapulohumeral dystrophy (FSHD). Results from the tibialis anterior cohort demonstrated patients treated with ACE-083 generated a mean total muscle volume increase of 12.6%; this was associated with a mean improvement in muscle fat fraction of 5.3%. Results from the biceps brachii cohort of the studyl demonstrated patients treated with ACE-083 generated a mean total muscle volume gain of 13.2%; this was associated with a mean improvement in muscle fat fraction of 0.6%.”,” the firm’s analyst commented.
Several other analysts have also recently commented on XLRN. Credit Suisse Group set a $51.00 target price on Acceleron Pharma and gave the stock a buy rating in a report on Tuesday, November 14th. HC Wainwright started coverage on Acceleron Pharma in a research note on Thursday, October 12th. They set a buy rating and a $57.00 price target on the stock. Royal Bank of Canada reissued a hold rating on shares of Acceleron Pharma in a research note on Thursday, November 2nd. Barclays increased their price target on Acceleron Pharma from $42.00 to $50.00 and gave the stock an overweight rating in a report on Wednesday, September 20th. Finally, Oppenheimer restated a hold rating on shares of Acceleron Pharma in a report on Tuesday, November 14th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. Acceleron Pharma has a consensus rating of Buy and an average target price of $44.56.
Acceleron Pharma (NASDAQ:XLRN) last issued its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.65) EPS for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.02. The company had revenue of $3.00 million during the quarter, compared to analyst estimates of $3.52 million. Acceleron Pharma had a negative return on equity of 40.70% and a negative net margin of 759.34%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.55) earnings per share. sell-side analysts predict that Acceleron Pharma will post -2.65 EPS for the current fiscal year.
In other news, SVP Christopher Rovaldi sold 2,266 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $42.42, for a total value of $96,123.72. Following the transaction, the senior vice president now directly owns 52,977 shares of the company’s stock, valued at approximately $2,247,284.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jean George sold 105,122 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $35.73, for a total value of $3,756,009.06. Following the completion of the transaction, the director now directly owns 1,250 shares in the company, valued at $44,662.50. The disclosure for this sale can be found here. Insiders have sold a total of 135,021 shares of company stock worth $5,034,598 over the last ninety days. Company insiders own 3.90% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Swiss National Bank increased its holdings in Acceleron Pharma by 8.4% during the 2nd quarter. Swiss National Bank now owns 50,300 shares of the biopharmaceutical company’s stock worth $1,529,000 after purchasing an additional 3,900 shares in the last quarter. AXA bought a new stake in Acceleron Pharma during the 2nd quarter worth approximately $9,833,000. Point72 Asset Management L.P. bought a new stake in Acceleron Pharma during the 3rd quarter worth approximately $2,721,000. Fox Run Management L.L.C. increased its holdings in Acceleron Pharma by 111.2% during the 3rd quarter. Fox Run Management L.L.C. now owns 30,200 shares of the biopharmaceutical company’s stock worth $1,127,000 after purchasing an additional 15,900 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Acceleron Pharma by 6.1% during the 2nd quarter. Vanguard Group Inc. now owns 2,029,040 shares of the biopharmaceutical company’s stock worth $61,663,000 after purchasing an additional 116,705 shares in the last quarter. 85.70% of the stock is currently owned by institutional investors and hedge funds.
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About Acceleron Pharma
Acceleron Pharma Inc is a clinical-stage biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapeutics to treat serious and rare diseases. Its research focuses on key natural regulators of cellular growth and repair, particularly the Transforming Growth Factor-Beta (TGF-beta), protein superfamily.
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