BTIG Research Initiates Coverage on Acceleron Pharma Inc to Buy

BTIG Research Initiates Coverage on Acceleron Pharma Inc(NASDAQ:XLRN). The shares have been rated Buy. The rating by BTIG Research was issued on Aug 19, 2016.

In a different note, On Jun 13, 2016, Barclays said it Maintains its rating on Acceleron Pharma Inc. In the research note, the firm Raises the price-target to $40.00 per share. The shares have been rated ‘Overweight’ by the firm.

Acceleron Pharma Inc (XLRN) made into the market gainers list on Mondays trading session with the shares advancing 0.23% or 0.07 points. Due to strong positive momentum, the stock ended at $30.28, which is also near the day’s high of $30.51. The stock began the session at $30.33 and the volume stood at 1,24,531 shares. The 52-week high of the shares is $50.86 and the 52 week low is $21.93. The company has a current market capitalization of $1,138 M and it has 3,75,96,691 shares in outstanding.

Acceleron Pharma Inc(XLRN) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $3.19M. Analysts had an estimated revenue of $3.77M. Earnings per share were $-0.59. Analysts had estimated an EPS of $-0.50.

Several Insider Transactions has been reported to the SEC. On Jul 6, 2016, Matthew L Sherman (EVP & Chief Medical Officer) sold 26,000 shares at $34.54 per share price.Also, On Jul 6, 2016, Steven D Ertel (EVP & Chief Operating Officer) sold 32,270 shares at $33.93 per share price.On Jul 6, 2016, Kevin F Mclaughlin (SVP, CFO and Treasurer) sold 25,300 shares at $34.66 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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