Acceleron Pharma (XLRN) PT Raised to $160 at Raymond James After Management Conversation

Raymond James analyst Danielle Brill raised the price target on Acceleron Pharma (NASDAQ: XLRN) to $160.00 (from $155.00) after speaking with Acceleron management to get an update on the ongoing Reblozyl launch, and sotatercept's PAH program. XLRN and partner BMS provided peak revenue guidance for Reblozyl of $4B by 2029 on a risk unadjusted basis.

The analyst reiterated a Strong Buy rating, stating "These bullish projections indicate to us that the ongoing launch continues on its strong trajectory, yet the opportunity continues to be underappreciated by the Street. We think there is plenty of upside for investors to capture considering XLRN's current valuation can be supported by Reblozyl royalties alone (~$1B in royalties to XLRN on $4B revs in 2029)". She went on to state "Bottom line, we continue to view XLRN as a must-own biotech name. We think there is significant upside to capture from two de-risked assets. We tweaked our model to reflect XLRN/BMY's long-term guidance for Reblozyl".

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