Platinum Investment Management Ltd. lowered its stake in Acceleron Pharma Inc. (NASDAQ:XLRN) by 15.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,500 shares of the biopharmaceutical company’s stock after selling 10,500 shares during the quarter. Platinum Investment Management Ltd. owned about 0.13% of Acceleron Pharma worth $2,183,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quantbot Technologies LP raised its stake 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 purchasing an additional 2,352 shares during the period. BNP Paribas Arbitrage SA raised its stake 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 purchasing an additional 3,288 shares during the period. NJ State Employees Deferred Compensation Plan bought a new stake in Acceleron Pharma during the 2nd quarter valued at approximately $213,000. Oppenheimer & Co. Inc. bought a new stake in Acceleron Pharma during the 3rd quarter valued at approximately $225,000. Finally, PNC Financial Services Group Inc. raised its stake 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 purchasing an additional 3,100 shares during the period. 85.84% of the stock is currently owned by hedge funds and other institutional investors.
In other news, major shareholder Corp /De/ Celgene bought 745,592 shares of the stock in a transaction on Monday, September 25th. The stock was acquired at an average cost of $37.00 per share, for a total transaction of $27,586,904.00. Following the acquisition, the insider now owns 6,118,479 shares of the company’s stock, valued at $226,383,723. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP John D. Quisel sold 5,113 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $38.42, for a total value of $196,441.46. Following the completion of the sale, the senior vice president now owns 57,918 shares of the company’s stock, valued at $2,225,209.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,513 shares of company stock valued at $2,055,485. 3.90% of the stock is owned by company insiders.
Several analysts recently issued reports on XLRN shares. HC Wainwright initiated coverage on Acceleron Pharma in a research note on Thursday, October 12th. They set a “buy” rating and a $57.00 target price on the stock. UBS reaffirmed a “buy” rating and issued a $50.00 price objective (up previously from $36.00) on shares of Acceleron Pharma in a research note on Tuesday, September 12th. Credit Suisse Group set a $51.00 price objective on Acceleron Pharma and gave the stock a “buy” rating in a research note on Tuesday, November 14th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Acceleron Pharma in a research note on Thursday, November 2nd. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Acceleron Pharma in a research note on Tuesday, September 5th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $44.56.
Acceleron Pharma Inc. (NASDAQ XLRN) opened at $35.12 on Wednesday. Acceleron Pharma Inc. has a 1-year low of $23.07 and a 1-year high of $40.35.
Acceleron Pharma (NASDAQ:XLRN) last posted its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $3.00 million during the quarter, compared to analysts’ expectations of $3.52 million. During the same quarter in the previous year, the business earned ($0.55) EPS. Acceleron Pharma’s revenue was up .0% compared to the same quarter last year. sell-side analysts forecast that Acceleron Pharma Inc. will post -2.67 EPS for the current year.
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Acceleron Pharma Profile
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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