Metropolitan Life Insurance Co. NY decreased its stake in Acceleron Pharma (NASDAQ:XLRN) by 72.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,968 shares of the biopharmaceutical company’s stock after selling 32,196 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Acceleron Pharma were worth $508,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Public Employees Retirement Association of Colorado purchased a new position in Acceleron Pharma during the 4th quarter valued at $138,000. Amalgamated Bank purchased a new position in Acceleron Pharma during the 4th quarter valued at $217,000. Bailard Inc. purchased a new position in Acceleron Pharma during the 4th quarter valued at $340,000. Wealthstreet Investment Advisors LLC purchased a new position in Acceleron Pharma during the 4th quarter valued at $365,000. Finally, Virtus Fund Advisers LLC purchased a new position in Acceleron Pharma during the 4th quarter valued at $414,000. Hedge funds and other institutional investors own 88.23% of the company’s stock.
In related news, Director Richard F. Pops sold 37,500 shares of the company’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $41.42, for a total transaction of $1,553,250.00. Following the transaction, the director now directly owns 68,750 shares of the company’s stock, valued at approximately $2,847,625. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevin F. Mclaughlin sold 4,000 shares of the company’s stock in a transaction dated Tuesday, April 3rd. The shares were sold at an average price of $38.45, for a total value of $153,800.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,304 shares of company stock valued at $1,930,062. Corporate insiders own 3.90% of the company’s stock.
Several brokerages have weighed in on XLRN. BidaskClub upgraded Acceleron Pharma from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. Oppenheimer reiterated a “hold” rating on shares of Acceleron Pharma in a report on Monday, January 8th. Cann reiterated a “hold” rating on shares of Acceleron Pharma in a report on Monday, January 8th. Credit Suisse Group reiterated an “outperform” rating and issued a $55.00 target price on shares of Acceleron Pharma in a report on Thursday, January 18th. Finally, JPMorgan Chase upgraded Acceleron Pharma from a “neutral” rating to an “overweight” rating and set a $33.00 target price for the company in a report on Monday, February 26th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $47.06.
XLRN opened at $35.91 on Friday. Acceleron Pharma has a 12 month low of $24.37 and a 12 month high of $46.93.
Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($0.62) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.60) by ($0.02). The company had revenue of $3.71 million during the quarter, compared to the consensus estimate of $3.39 million. Acceleron Pharma had a negative return on equity of 38.71% and a negative net margin of 804.49%. sell-side analysts predict that Acceleron Pharma will post -2.5 EPS for the current fiscal year.
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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