BlackRock Fund Advisors increased its position in shares of Acceleron Pharma Inc. (NASDAQ:XLRN) by 6.1% during the third quarter, Holdings Channel reports. The fund owned 1,197,052 shares of the biopharmaceutical company’s stock after buying an additional 68,974 shares during the period. BlackRock Fund Advisors owned approximately 3.18% of Acceleron Pharma worth $43,321,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its stake in Acceleron Pharma by 14.3% in the second quarter. Teacher Retirement System of Texas now owns 3,817 shares of the biopharmaceutical company’s stock worth $130,000 after buying an additional 477 shares during the last quarter. Pacad Investment Ltd. acquired a new stake in shares of Acceleron Pharma during the second quarter valued at $133,000. Legal & General Group Plc increased its stake in shares of Acceleron Pharma by 4.3% in the second quarter. Legal & General Group Plc now owns 4,214 shares of the biopharmaceutical company’s stock valued at $145,000 after buying an additional 173 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Acceleron Pharma by 4,112.5% in the second quarter. PNC Financial Services Group Inc. now owns 5,055 shares of the biopharmaceutical company’s stock valued at $172,000 after buying an additional 4,935 shares in the last quarter. Finally, Wall Street Associates acquired a new stake in shares of Acceleron Pharma during the second quarter valued at $217,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.
Shares of Acceleron Pharma Inc. (NASDAQ:XLRN) traded down 0.99% during midday trading on Friday, hitting $23.98. The stock had a trading volume of 375,021 shares. Acceleron Pharma Inc. has a 1-year low of $22.67 and a 1-year high of $41.69. The firm’s 50-day moving average price is $26.49 and its 200-day moving average price is $31.42. The stock’s market cap is $905.15 million.
Acceleron Pharma (NASDAQ:XLRN) last posted its quarterly earnings data on Thursday, November 3rd. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.53) by $0.02. The business had revenue of $3 million for the quarter, compared to the consensus estimate of $4.08 million. Acceleron Pharma had a negative net margin of 229.77% and a negative return on equity of 30.75%. Analysts forecast that Acceleron Pharma Inc. will post ($1.59) earnings per share for the current year.
Several analysts recently weighed in on the company. Zacks Investment Research downgraded Acceleron Pharma from a “hold” rating to a “sell” rating in a research report on Wednesday, January 11th. Oppenheimer Holdings, Inc. assumed coverage on Acceleron Pharma in a research report on Sunday, December 25th. They set a “buy” rating and a $44.00 price objective for the company. Cann assumed coverage on Acceleron Pharma in a research report on Monday, December 12th. They set an “outperform” rating and a $44.00 price objective for the company. Finally, Leerink Swann set a $50.00 price objective on Acceleron Pharma and gave the stock a “buy” rating in a research report on Thursday, December 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. Acceleron Pharma has a consensus rating of “Buy” and a consensus price target of $45.82.
In related news, Director Terrance Mcguire sold 34,928 shares of Acceleron Pharma stock in a transaction on Thursday, December 8th. The stock was sold at an average price of $30.96, for a total transaction of $1,081,370.88. Following the completion of the sale, the director now owns 1,624 shares of the company’s stock, valued at $50,279.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jean George sold 453,505 shares of Acceleron Pharma stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $38.39, for a total value of $17,410,056.95. The disclosure for this sale can be found here. Insiders have sold 494,633 shares of company stock valued at $18,661,613 in the last three months. 12.20% of the stock is owned by corporate insiders.
Acceleron Pharma Company Profile
Acceleron Pharma Inc is a United States-based clinical stage biopharmaceutical company. The Company focuses on discovering and developing therapies to treat a range of diseases. Its therapeutic candidate, luspatercept, is being evaluated in Phase III studies for the treatment of the hematologic diseases myelodysplastic syndromes (MDS) and beta-thalassemia.
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