Acceleron Pharma (XLRN) Falls: Stock Drops 5.7% in Session

Zacks

Acceleron Pharma, Inc. (XLRN) saw a big move last session, as the company’s shares fell nearly 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for XLRN, as the stock is now down over 23% since Mar 5.
 
This slump shouldn’t be too much of a surprise to investors, as this company in Biomedicine space has seen 1 negative revision in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
 
XLRN currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.0%.
 
Investors interested in the same industry may consider better-ranked stocks like Alexion Pharmaceuticals, Inc. (ALXN), Alkermes plc (ALKS) and ANI Pharmaceuticals, Inc. (ANIP). All these stocks carry a Zacks Rank #1 (Strong Buy).
 
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