Credit Suisse Group reaffirmed their outperform rating on shares of Acceleron Pharma (NASDAQ:XLRN) in a report released on Thursday morning. Credit Suisse Group currently has a $55.00 target price on the biopharmaceutical company’s stock.
XLRN has been the topic of several other research reports. HC Wainwright reaffirmed a buy rating and issued a $62.00 price objective on shares of Acceleron Pharma in a research note on Monday, December 11th. Oppenheimer reaffirmed a hold rating on shares of Acceleron Pharma in a research note on Monday, January 8th. BidaskClub raised Acceleron Pharma from a hold rating to a buy rating in a research note on Wednesday, December 27th. Royal Bank of Canada reaffirmed a hold rating on shares of Acceleron Pharma in a research note on Thursday, November 2nd. Finally, Cann reaffirmed a hold rating on shares of Acceleron Pharma in a research note on Monday, January 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $44.81.
Acceleron Pharma (NASDAQ XLRN) traded up $0.69 during midday trading on Thursday, hitting $43.04. The stock had a trading volume of 197,438 shares, compared to its average volume of 275,733. Acceleron Pharma has a 1 year low of $23.07 and a 1 year high of $46.93. The company has a market capitalization of $1,915.70, a P/E ratio of -16.62 and a beta of 1.59.
In related news, Director Jean George sold 105,122 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $35.73, for a total transaction of $3,756,009.06. Following the completion of the sale, the director now owns 1,250 shares in the company, valued at $44,662.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Christopher Rovaldi sold 11,000 shares of the stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $45.00, for a total value of $495,000.00. Following the sale, the senior vice president now owns 35,701 shares of the company’s stock, valued at approximately $1,606,545. The disclosure for this sale can be found here. Insiders have sold 146,021 shares of company stock valued at $5,529,598 in the last quarter. 3.90% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in XLRN. Quantbot Technologies LP grew its holdings in Acceleron Pharma by 416.3% during the 3rd quarter. Quantbot Technologies LP now owns 2,917 shares of the biopharmaceutical company’s stock valued at $108,000 after buying an additional 2,352 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in Acceleron Pharma by 969.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,627 shares of the biopharmaceutical company’s stock valued at $110,000 after buying an additional 3,288 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in Acceleron Pharma during the 3rd quarter valued at approximately $225,000. PNC Financial Services Group Inc. grew its holdings in Acceleron Pharma by 57.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,460 shares of the biopharmaceutical company’s stock valued at $258,000 after buying an additional 3,100 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in Acceleron Pharma during the 3rd quarter valued at approximately $266,000. Institutional investors and hedge funds own 85.70% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Acceleron Pharma (XLRN) Earns Outperform Rating from Credit Suisse Group” was posted by BBNS and is owned by of BBNS. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark law. The correct version of this article can be accessed at https://baseballnewssource.com/markets/acceleron-pharma-xlrn-earns-outperform-rating-from-credit-suisse-group/1848870.html.
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.
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.