Brokerages expect Acceleron Pharma Inc. (NASDAQ:XLRN) to report $3.37 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Acceleron Pharma’s earnings. The highest sales estimate is $4.40 million and the lowest is $2.76 million. Acceleron Pharma also posted sales of $3.37 million in the same quarter last year. The firm is expected to announce its next earnings results on Wednesday, March 7th.
According to Zacks, analysts expect that Acceleron Pharma will report full year sales of $3.37 million for the current year, with estimates ranging from $12.54 million to $14.50 million. For the next financial year, analysts anticipate that the firm will report sales of $27.98 million per share, with estimates ranging from $13.20 million to $37.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Acceleron Pharma.
Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.67) by $0.02. Acceleron Pharma had a negative return on equity of 40.70% and a negative net margin of 759.34%. The business had revenue of $3.00 million during the quarter, compared to the consensus estimate of $3.52 million. During the same quarter in the previous year, the company posted ($0.55) EPS. The business’s revenue was up .0% on a year-over-year basis.
XLRN has been the subject of several analyst reports. Citigroup Inc. boosted their target price on shares of Acceleron Pharma to $44.00 and gave the company a “buy” rating in a research note on Friday, August 4th. BidaskClub cut Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Piper Jaffray Companies restated a “buy” rating and issued a $40.00 price target on shares of Acceleron Pharma in a report on Friday, July 28th. Credit Suisse Group set a $35.00 price target on Acceleron Pharma and gave the company a “buy” rating in a report on Saturday, August 5th. Finally, UBS AG restated a “buy” rating and issued a $50.00 price target (up previously from $36.00) on shares of Acceleron Pharma in a report on Tuesday, September 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $44.88.
In other Acceleron Pharma news, major shareholder Corp /De/ Celgene bought 745,592 shares of the business’s stock in a transaction on Monday, September 25th. The shares were bought at an average cost of $37.00 per share, with a total value of $27,586,904.00. Following the transaction, the insider now directly owns 6,118,479 shares in the company, valued at approximately $226,383,723. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin F. Mclaughlin sold 16,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $38.41, for a total value of $614,560.00. Following the completion of the transaction, the chief financial officer now directly owns 50,810 shares in the company, valued at $1,951,612.10. The disclosure for this sale can be found here. Insiders have sold a total of 53,513 shares of company stock worth $2,055,485 over the last three months. 3.90% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in XLRN. Parametric Portfolio Associates LLC acquired a new position in shares of Acceleron Pharma in the 1st quarter valued at approximately $241,000. Teachers Advisors LLC raised its position in shares of Acceleron Pharma by 2.1% during the 1st quarter. Teachers Advisors LLC now owns 46,080 shares of the biopharmaceutical company’s stock valued at $1,220,000 after acquiring an additional 942 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in shares of Acceleron Pharma by 25.7% during the 1st quarter. TIAA CREF Investment Management LLC now owns 98,743 shares of the biopharmaceutical company’s stock valued at $2,614,000 after acquiring an additional 20,189 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Acceleron Pharma by 9.1% during the 1st quarter. Vanguard Group Inc. now owns 1,912,335 shares of the biopharmaceutical company’s stock valued at $50,619,000 after acquiring an additional 158,714 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Acceleron Pharma by 2.8% during the 1st quarter. Geode Capital Management LLC now owns 271,440 shares of the biopharmaceutical company’s stock valued at $7,185,000 after acquiring an additional 7,378 shares in the last quarter. 75.85% of the stock is currently owned by institutional investors.
Shares of Acceleron Pharma (XLRN) traded up $1.74 during mid-day trading on Tuesday, reaching $38.71. 284,820 shares of the company traded hands, compared to its average volume of 392,826. Acceleron Pharma has a 12-month low of $23.07 and a 12-month high of $40.35.
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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