BTIG Starts Acceleron Pharma (XLRN) at Buy

August 19, 2016 8:25 AM EDT
Get Alerts XLRN Hot Sheet
Price: $24.39 -0.33%

Rating Summary:
    10 Buy, 2 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 18 | Down: 17 | New: 10
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BTIG initiated coverage on Acceleron Pharma (NASDAQ: XLRN) with a Buy rating and a price target of $46. Analyst Ling Wang noted its de-risked Phase III trials.

"We see a good chance of success in two ongoing Phase III trials of luspatercept (partnered with Celgene in lower-risk MDS and beta thalassemia. Near-term, we expect updates on response duration from the two Phase II luspatercept trials and initial data from MDS expansion trials to drive upside. We see the luspatercept franchise (projected global peak sales of ~$2B across indications) as sufficient to support XLRN’s current valuation and view the rest of the programs as upside," said Wang.

For an analyst ratings summary and ratings history on Acceleron Pharma click here. For more ratings news on Acceleron Pharma click here.

Shares of Acceleron Pharma closed at $30.00 yesterday.

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