Barclays Maintains Acceleron Pharma Inc to Overweight with Price Target $42.00

Brokerage firm Barclays Maintains its rating on Acceleron Pharma Inc(NASDAQ:XLRN). In a research note issued to the investors, the brokerage major Raises the price-target to $42.00 per share. The shares have been rated Overweight. The rating by Barclays was issued on Jun 13, 2016.

In a different note, Barclays said it Initiates Coverage on Acceleron Pharma Inc, according to a research note issued on Apr 27, 2016. The shares have been rated ‘Overweight’ by the firm.

Acceleron Pharma Inc (XLRN) shares turned negative on Fridays trading session with the shares closing down -1.92 points or -5.29% at a volume of 6,06,901. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $36.42. The peak price level was also seen at $36.42 while the days lowest was $34.25. Finally the shares closed at $34.38. The 52-week high of the shares is $50.86 while the 52-week low is $20. According to the latest information available, the market cap of the company is $1,280 M.

Acceleron Pharma Inc(XLRN) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $18.20M. Analysts had an estimated revenue of $8.70M. Earnings per share were $0.13. Analysts had estimated an EPS of $-0.26.

Several Insider Transactions has been reported to the SEC. On May 25, 2016, Kevin F Mclaughlin (SVP, CFO and Treasurer) sold 25,300 shares at $34.00 per share price.Also, On May 20, 2016, John L Knopf (CEO and President) sold 100,000 shares at $33.08 per share price.On Apr 8, 2016, Steven D Ertel (EVP & Chief Operating Officer) sold 32,270 shares at $32.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Acceleron Pharma Inc. is a biopharmaceutical company focused on the discovery development and commercialization of therapeutic candidates that are based on the mechanisms that the human body uses to regulate the growth and repair of its cells and tissues. The Company’s research focuses on key natural regulators of cellular growth and repair particularly the Transforming Growth Factor-Beta (TGF-b) protein superfamily. By combining its discovery and development know-how including its knowledge of the TGF-b superfamily and its internal protein engineering and manufacturing capabilities the Company has built a discovery and development platform that has generated therapeutic candidates with new mechanisms of action. The Company has four internally discovered therapeutic candidates that are in clinical trials.

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