Acceleron Pharma Inc (XLRN) is Initiated by Citigroup to Neutral, Price Target at $40

Acceleron Pharma Inc (XLRN) was Initiated by Citigroup to “Neutral” and the brokerage firm has set the Price Target at $40. Citigroup advised their investors in a research report released on Sep 29, 2016.

On the company’s financial health, Acceleron Pharma Inc reported $-0.59 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.52. The company had revenue of $3.20 million for the quarter, compared to analysts expectations of $3.66 million. The company’s revenue was down -43.9 % compared to the same quarter last year.

Acceleron Pharma Inc opened for trading at $39.11 and hit $40.7 on the upside on Tuesday, eventually ending the session at $40.47, with a gain of 3.37% or 1.32 points. The heightened volatility saw the trading volume jump to 2,61,672 shares. Company has a market cap of $1,522 M.

In a different news, on Sep 23, 2016, John D Quisel (SVP, Bus. Dev., GC & Secretary) sold 45,952 shares at $38.05 per share price. According to the SEC, on Jul 6, 2016, Matthew L Sherman (EVP & Chief Medical Officer) sold 26,000 shares at $34.54 per share price. On Jul 6, 2016, Steven D Ertel (EVP & Chief Operating Officer) sold 32,270 shares at $33.93 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.

Acceleron Pharma Inc

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