Wells Fargo & Company MN Grows Position in Acceleron Pharma Inc. (NASDAQ:XLRN)

Wells Fargo & Company MN grew its holdings in Acceleron Pharma Inc. (NASDAQ:XLRN) by 47.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 184,815 shares of the biopharmaceutical company’s stock after acquiring an additional 59,120 shares during the period. Wells Fargo & Company MN’s holdings in Acceleron Pharma were worth $23,193,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Eaton Vance Management bought a new stake in shares of Acceleron Pharma in the first quarter worth about $86,000. BNP Paribas Arbitrage SA increased its holdings in shares of Acceleron Pharma by 915.6% in the second quarter. BNP Paribas Arbitrage SA now owns 782 shares of the biopharmaceutical company’s stock worth $98,000 after purchasing an additional 705 shares during the last quarter. AGF Investments Inc. bought a new stake in Acceleron Pharma during the second quarter worth approximately $170,000. Fox Run Management L.L.C. bought a new stake in Acceleron Pharma during the second quarter worth approximately $220,000. Finally, Blueshift Asset Management LLC bought a new stake in Acceleron Pharma during the second quarter worth approximately $292,000. Institutional investors and hedge funds own 90.35% of the company’s stock.

NASDAQ XLRN opened at $178.75 on Thursday. The stock’s fifty day moving average price is $171.32 and its 200 day moving average price is $141.63. Acceleron Pharma Inc. has a 1 year low of $108.82 and a 1 year high of $189.99. The company has a market cap of $10.93 billion, a price-to-earnings ratio of -42.46 and a beta of 0.13.

Acceleron Pharma (NASDAQ:XLRN) last released its earnings results on Thursday, November 4th. The biopharmaceutical company reported ($1.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.98) by ($0.18). Acceleron Pharma had a negative net margin of 226.01% and a negative return on equity of 32.11%. The firm had revenue of $34.20 million during the quarter, compared to analyst estimates of $35.39 million. During the same period in the previous year, the company earned ($0.66) earnings per share. Acceleron Pharma’s revenue was up 51.6% on a year-over-year basis. As a group, sell-side analysts predict that Acceleron Pharma Inc. will post -3.95 earnings per share for the current year.

In related news, SVP Adam M. Veness sold 6,650 shares of the firm’s stock in a transaction dated Tuesday, September 21st. The shares were sold at an average price of $150.05, for a total value of $997,832.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Sujay Kango sold 5,000 shares of the firm’s stock in a transaction dated Monday, September 27th. The shares were sold at an average price of $175.00, for a total transaction of $875,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,286 shares of company stock worth $5,770,648. 1.70% of the stock is owned by insiders.

Several brokerages have weighed in on XLRN. Morgan Stanley reissued an “equal weight” rating and set a $180.00 price objective on shares of Acceleron Pharma in a research note on Friday, October 1st. Piper Sandler cut Acceleron Pharma from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $146.00 to $180.00 in a research note on Thursday, September 30th. Raymond James cut Acceleron Pharma from a “strong-buy” rating to a “market perform” rating in a research note on Monday, October 4th. SVB Leerink upped their target price on Acceleron Pharma from $148.00 to $180.00 and gave the company a “market perform” rating in a research note on Thursday, September 30th. Finally, Cowen cut Acceleron Pharma from an “outperform” rating to a “market perform” rating and upped their target price for the company from $173.00 to $180.00 in a research note on Thursday, September 30th. Eleven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $172.40.

Acceleron Pharma Company Profile

Acceleron Pharma, Inc is a biopharmaceutical company, which engages in the discovery, development and commercialization of therapeutics to treat serious and rare diseases. Its product candidates include Luspatercept, designed to patients with chronic anemia associated within a wide range of blood diseases; ACE-083, designed for the treatment of focal muscle disorders; and Sotatercept, designed to treat pulmonary arterial hypertension.

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Institutional Ownership by Quarter for Acceleron Pharma (NASDAQ:XLRN)

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