On Monday, shares of biopharmaceutical company Celgene Corp. tumbled, and closed the day down 3.31% to $118.36 per share after one of its partners, Acceleron Pharma , reported disappointing first-quarter results. XLRN stock closed down 12.79% to $27.69 per share.
Celgene and Acceleron are currently developing together luspatercept, a treatment for the chronic, sometimes debilitating anemias associated with myelodyspastic syndromes (MDS), a form of leukemia; the companies recently unveiled strong Phase 2 results for the drug, with plans to initiate a Phase 3 trial in early 2018.
Celgene and Acceleron are also working on a treatment dubbed sotatercept, which is being tested in multiple Phase 2 trials for myelofibrosis, a serious bone marrow disorder that disruptsyour body's normal production of blood cells.
Acceleron reported a first-quarter loss of 66 cents per share, missing the Zacks Consensus Estimate of a loss of 58 cents per share and falling a whopping 607% year-over-year. Revenues came in at $3.7 million, beating our consensus estimate of $3.2 million but declining 80% from the prior year period.
Both Celgene and Acceleron sit at a #3 (Hold) on the Zacks Rank. Year-to-date, shares of CELG have gained 5.85%, while XLRN stock is up over 24%.
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On Monday, shares of biopharmaceutical company Celgene Corp. tumbled, and closed the day down 3.31% to $118.36 per share after one of its partners, Acceleron Pharma , reported disappointing first-quarter results. XLRN stock closed down 12.79% to $27.69 per share.
Celgene and Acceleron are currently developing together luspatercept, a treatment for the chronic, sometimes debilitating anemias associated with myelodyspastic syndromes (MDS), a form of leukemia; the companies recently unveiled strong Phase 2 results for the drug, with plans to initiate a Phase 3 trial in early 2018.
Celgene and Acceleron are also working on a treatment dubbed sotatercept, which is being tested in multiple Phase 2 trials for myelofibrosis, a serious bone marrow disorder that disruptsyour body's normal production of blood cells.
Acceleron reported a first-quarter loss of 66 cents per share, missing the Zacks Consensus Estimate of a loss of 58 cents per share and falling a whopping 607% year-over-year. Revenues came in at $3.7 million, beating our consensus estimate of $3.2 million but declining 80% from the prior year period.
Both Celgene and Acceleron sit at a #3 (Hold) on the Zacks Rank. Year-to-date, shares of CELG have gained 5.85%, while XLRN stock is up over 24%.
5 Trades That Could Profit "Big-League" from Trump Policies
If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.
Today, Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>