NF Trinity Capital Hong Kong Ltd acquired a new position in Acceleron Pharma (NASDAQ:XLRN) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,369 shares of the biopharmaceutical company’s stock, valued at approximately $562,000.
A number of other hedge funds also recently bought and sold shares of XLRN. SG Americas Securities LLC bought a new stake in Acceleron Pharma during the 1st quarter worth $109,000. Public Employees Retirement Association of Colorado bought a new position in shares of Acceleron Pharma in the fourth quarter valued at approximately $138,000. Dupont Capital Management Corp bought a new position in shares of Acceleron Pharma in the first quarter valued at approximately $188,000. Amalgamated Bank purchased a new position in Acceleron Pharma in the fourth quarter valued at approximately $217,000. Finally, Xact Kapitalforvaltning AB purchased a new position in Acceleron Pharma in the fourth quarter valued at approximately $217,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.
Shares of NASDAQ XLRN traded up $0.26 during midday trading on Monday, reaching $36.00. The company had a trading volume of 14,578 shares, compared to its average volume of 313,571. The stock has a market cap of $1.64 billion, a P/E ratio of -13.43 and a beta of 1.45. Acceleron Pharma has a 1 year low of $24.37 and a 1 year high of $46.93.
Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings data on Tuesday, May 8th. The biopharmaceutical company reported ($0.58) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.64) by $0.06. Acceleron Pharma had a negative net margin of 839.98% and a negative return on equity of 34.52%. The firm had revenue of $3.23 million for the quarter, compared to analyst estimates of $3.77 million. During the same quarter in the prior year, the business earned ($0.66) earnings per share. The business’s quarterly revenue was down 12.9% compared to the same quarter last year. sell-side analysts forecast that Acceleron Pharma will post -2.38 earnings per share for the current year.
In related news, Director Richard F. Pops sold 37,500 shares of Acceleron Pharma stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $41.42, for a total transaction of $1,553,250.00. Following the sale, the director now directly owns 68,750 shares in the company, valued at $2,847,625. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP John D. Quisel sold 1,204 shares of the business’s stock in a transaction dated Tuesday, April 3rd. The stock was sold at an average price of $38.40, for a total transaction of $46,233.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,304 shares of company stock worth $1,930,062. Company insiders own 3.00% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Credit Suisse Group set a $55.00 price objective on shares of Acceleron Pharma and gave the company a “buy” rating in a research report on Wednesday, May 9th. HC Wainwright upped their price target on shares of Acceleron Pharma to $69.00 and gave the company a “buy” rating in a report on Wednesday, May 9th. ValuEngine upgraded shares of Acceleron Pharma from a “hold” rating to a “buy” rating in a research note on Friday, May 4th. Cann reaffirmed a “hold” rating on shares of Acceleron Pharma in a research report on Tuesday, May 1st. Finally, BidaskClub cut shares of Acceleron Pharma from a “hold” rating to a “sell” rating in a research report on Wednesday, April 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company’s stock. Acceleron Pharma presently has an average rating of “Buy” and an average target price of $50.07.
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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