Wall Street brokerages expect that Acceleron Pharma Inc. (NASDAQ:XLRN) will report sales of $3.08 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Acceleron Pharma’s earnings. The highest sales estimate is $4.05 million and the lowest is $2.26 million. Acceleron Pharma reported sales of $3.01 million during the same quarter last year, which indicates a positive year-over-year growth rate of 2.3%. The firm is expected to report its next earnings report before the market opens on Tuesday, November 7th.
According to Zacks, analysts expect that Acceleron Pharma will report full-year sales of $3.08 million for the current year, with estimates ranging from $11.80 million to $15.19 million. For the next fiscal year, analysts anticipate that the company will post sales of $30.60 million per share, with estimates ranging from $13.20 million to $37.00 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Acceleron Pharma.
Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.65) by ($0.12). Acceleron Pharma had a negative net margin of 724.22% and a negative return on equity of 44.67%. The company had revenue of $3.10 million during the quarter, compared to the consensus estimate of $3.69 million. During the same quarter in the prior year, the company posted ($0.59) earnings per share. The company’s revenue for the quarter was down 3.1% on a year-over-year basis.
Several brokerages have recently commented on XLRN. BidaskClub raised shares of Acceleron Pharma from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Credit Suisse Group reaffirmed a “buy” rating and set a $46.00 target price on shares of Acceleron Pharma in a report on Tuesday, July 4th. Zacks Investment Research cut shares of Acceleron Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Acceleron Pharma in a report on Tuesday, September 5th. Finally, Citigroup Inc. raised their target price on shares of Acceleron Pharma to $44.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $43.65.
Acceleron Pharma (NASDAQ XLRN) traded up 3.67% during midday trading on Wednesday, hitting $38.12. The stock had a trading volume of 377,360 shares. Acceleron Pharma has a 1-year low of $23.07 and a 1-year high of $41.69. The company’s market cap is $1.47 billion. The company’s 50 day moving average is $37.73 and its 200 day moving average is $32.96.
In other Acceleron Pharma news, CFO Kevin F. Mclaughlin sold 16,000 shares of the firm’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 sale, the chief financial officer now owns 50,810 shares in the company, valued at $1,951,612.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Corp /De/ Celgene bought 745,592 shares of the business’s stock in a transaction on Monday, September 25th. The stock was bought at an average price of $37.00 per share, for a total transaction of $27,586,904.00. Following the transaction, the insider now directly owns 6,118,479 shares of the company’s stock, valued at $226,383,723. The disclosure for this purchase can be found here. Insiders sold 66,578 shares of company stock worth $2,518,117 over the last three months. 3.90% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its position in Acceleron Pharma by 9.0% in the second quarter. BlackRock Inc. now owns 4,005,228 shares of the biopharmaceutical company’s stock valued at $121,719,000 after buying an additional 330,635 shares in the last quarter. Vanguard Group Inc. boosted its position in Acceleron Pharma by 6.1% in the second quarter. Vanguard Group Inc. now owns 2,029,040 shares of the biopharmaceutical company’s stock valued at $61,663,000 after buying an additional 116,705 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in Acceleron Pharma by 46.6% in the second quarter. Westfield Capital Management Co. LP now owns 1,682,359 shares of the biopharmaceutical company’s stock valued at $51,127,000 after buying an additional 534,440 shares in the last quarter. Eagle Asset Management Inc. boosted its position in Acceleron Pharma by 6.6% in the second quarter. Eagle Asset Management Inc. now owns 1,256,642 shares of the biopharmaceutical company’s stock valued at $38,189,000 after buying an additional 77,683 shares in the last quarter. Finally, State Street Corp boosted its position in Acceleron Pharma by 9.4% in the second quarter. State Street Corp now owns 1,131,824 shares of the biopharmaceutical company’s stock valued at $34,386,000 after buying an additional 97,199 shares in the last quarter. Hedge funds and other institutional investors own 77.38% of the company’s stock.
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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