Acceleron Pharma Inc (XLRN) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $0.13 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.47. Analysts had a consensus of $-0.34. The company posted revenue of $18.20 million in the period, compared to analysts expectations of $8.70 million. The company’s revenue was up 311.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.45 EPS.
Many Wall Street Analysts have commented on Acceleron Pharma Inc. Barclays Initiated Acceleron Pharma Inc on Apr 27, 2016 to “Overweight”, Price Target of the shares are set at $40.
Acceleron Pharma Inc closed down -0.83 points or -2.93% at $27.5 with 4,57,490 shares getting traded on Wednesday. Post opening the session at $28.12, the shares hit an intraday low of $26.72 and an intraday high of $28.33 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Apr 8, 2016, Steven D Ertel (EVP & Chief Operating Officer) sold 32,270 shares at $32.00 per share price. According to the SEC, on Apr 8, 2016, Matthew L Sherman (EVP & Chief Medical Officer) sold 26,000 shares at $32.00 per share price. On Oct 9, 2015, John L Knopf (CEO and President) sold 19,000 shares at $24.30 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.