State Street Corp Sells 122,671 Shares of Acceleron Pharma Inc (NASDAQ:XLRN)

State Street Corp trimmed its position in Acceleron Pharma Inc (NASDAQ:XLRN) by 7.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,423,552 shares of the biopharmaceutical company’s stock after selling 122,671 shares during the period. State Street Corp owned approximately 2.68% of Acceleron Pharma worth $56,245,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. increased its position in Acceleron Pharma by 2.6% in the 2nd quarter. BlackRock Inc. now owns 4,921,880 shares of the biopharmaceutical company’s stock valued at $202,191,000 after buying an additional 124,369 shares in the last quarter. Vanguard Group Inc. increased its position in Acceleron Pharma by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 4,086,713 shares of the biopharmaceutical company’s stock valued at $167,881,000 after buying an additional 75,465 shares in the last quarter. TimesSquare Capital Management LLC increased its position in Acceleron Pharma by 14.4% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,048,900 shares of the biopharmaceutical company’s stock valued at $41,442,000 after buying an additional 131,930 shares in the last quarter. Eagle Asset Management Inc. increased its position in Acceleron Pharma by 1.2% in the 3rd quarter. Eagle Asset Management Inc. now owns 919,358 shares of the biopharmaceutical company’s stock valued at $36,323,000 after buying an additional 11,028 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its position in Acceleron Pharma by 55.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 775,768 shares of the biopharmaceutical company’s stock valued at $31,869,000 after buying an additional 278,068 shares in the last quarter. 89.38% of the stock is owned by institutional investors and hedge funds.

Shares of XLRN opened at $49.92 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 14.02 and a current ratio of 14.02. The stock has a 50 day moving average price of $45.52 and a two-hundred day moving average price of $42.98. The firm has a market capitalization of $2.65 billion, a P/E ratio of -19.27 and a beta of 1.24. Acceleron Pharma Inc has a 52 week low of $37.01 and a 52 week high of $51.05.

Acceleron Pharma (NASDAQ:XLRN) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.86) EPS for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.03). The company had revenue of $4.20 million for the quarter, compared to the consensus estimate of $4.44 million. Acceleron Pharma had a negative return on equity of 30.79% and a negative net margin of 353.57%. The business’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.63) earnings per share. On average, equities analysts forecast that Acceleron Pharma Inc will post -2.22 earnings per share for the current year.

XLRN has been the subject of a number of research analyst reports. HC Wainwright initiated coverage on Acceleron Pharma in a research report on Tuesday. They issued a “buy” rating and a $88.00 target price for the company. Piper Jaffray Companies set a $71.00 target price on Acceleron Pharma and gave the company a “buy” rating in a research report on Monday, October 21st. BidaskClub raised Acceleron Pharma from a “hold” rating to a “buy” rating in a research report on Wednesday, November 13th. Cowen reaffirmed a “buy” rating on shares of Acceleron Pharma in a research report on Wednesday, November 6th. Finally, Oppenheimer set a $58.00 target price on Acceleron Pharma and gave the company a “buy” rating in a research report on Tuesday, September 17th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $59.25.

About Acceleron Pharma

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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Institutional Ownership by Quarter for Acceleron Pharma (NASDAQ:XLRN)

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