UPDATE: Jefferies Starts Acceleron Pharma (XLRN) at Hold

(Updated - October 6, 2021 4:14 PM EDT)

Jefferies analyst Akash Tewari initiates coverage on Acceleron Pharma (NASDAQ: XLRN) with a Hold rating and a price target of $180.00.

The analyst comments "On 9/30 MRK entered into an agreement to acquire XLRN for $180/cash (~$11.5Bn mkt cap). While we do think the deal holds, we believe MRK got a great deal given the upside for Sotatercept in PAH which we think is a $3-5Bn+ opportunity. Our report goes in depth on the upcoming STELLAR trial. Additionally, we think Reblozyl will work in 1L MDS and continue to generate a sig. and growing royalty stream for XLRN. Hold, $180 PT."

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 $177.13 yesterday.

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