Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Acceleron Pharma Inc (NASDAQ:XLRN) by 13.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,958 shares of the biopharmaceutical company’s stock after buying an additional 356 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Acceleron Pharma were worth $138,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in XLRN. Quadrant Capital Group LLC bought a new position in shares of Acceleron Pharma in the first quarter valued at approximately $46,000. BNP Paribas Arbitrage SA lifted its stake in Acceleron Pharma by 1,068.1% in the first quarter. BNP Paribas Arbitrage SA now owns 10,151 shares of the biopharmaceutical company’s stock valued at $473,000 after purchasing an additional 9,282 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Acceleron Pharma in the first quarter valued at approximately $779,000. Rhenman & Partners Asset Management AB purchased a new position in Acceleron Pharma in the first quarter valued at approximately $3,260,000. Finally, Geode Capital Management LLC lifted its stake in Acceleron Pharma by 7.7% in the fourth quarter. Geode Capital Management LLC now owns 453,463 shares of the biopharmaceutical company’s stock valued at $19,748,000 after purchasing an additional 32,521 shares during the last quarter. 85.05% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently commented on the company. BidaskClub downgraded Acceleron Pharma from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. ValuEngine downgraded Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 18th. Barclays downgraded Acceleron Pharma from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $54.00 to $45.00 in a research report on Friday, May 3rd. HC Wainwright increased their target price on Acceleron Pharma from $66.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Finally, Zacks Investment Research downgraded Acceleron Pharma from a “buy” rating to a “hold” rating in a research report on Friday, May 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $57.70.
Shares of Acceleron Pharma stock traded down $0.41 during trading on Wednesday, hitting $42.49. The stock had a trading volume of 1,111 shares, compared to its average volume of 428,959. The stock has a market cap of $2.16 billion, a P/E ratio of -16.51 and a beta of 1.31. Acceleron Pharma Inc has a 12 month low of $32.53 and a 12 month high of $59.59. The company has a debt-to-equity ratio of 0.05, a quick ratio of 16.18 and a current ratio of 19.26.
Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.07). The firm had revenue of $2.78 million during the quarter, compared to the consensus estimate of $3.67 million. Acceleron Pharma had a negative return on equity of 35.94% and a negative net margin of 965.39%. The company’s revenue for the quarter was down 13.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.58) EPS. Sell-side analysts predict that Acceleron Pharma Inc will post -2.42 earnings per share for the current year.
In related news, EVP John D. Quisel sold 3,622 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $44.64, for a total value of $161,686.08. Following the transaction, the executive vice president now owns 54,004 shares of the company’s stock, valued at $2,410,738.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin F. Mclaughlin sold 648 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $48.02, for a total value of $31,116.96. Following the completion of the transaction, the chief financial officer now directly owns 42,279 shares in the company, valued at approximately $2,030,237.58. The disclosure for this sale can be found here. In the last three months, insiders sold 23,730 shares of company stock worth $1,060,959. 2.50% of the stock is owned by insiders.
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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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