UPDATE: Wolfe Research Starts Acceleron Pharma (XLRN) at Outperform, Top Pick
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Wolfe Research analyst Akash Tewari initiates coverage on Acceleron Pharma (NASDAQ: XLRN) with a Outperform rating and a price target of $200.00.
The analyst comments "We think XLRN still has a lot of room to run here based on our opinion that pipeline drug Sotatercept will HIT in it’s phase 3 PAH trial given the good phase 2 data and a handful of “smart” trial tweaks mgt is making in ph3 to tip the scales in their favor. We believe this drug could become the first disease modifying PAH treatment and become the backbone of combination therapy, generating over $2B in sales."
Shares of Acceleron Pharma closed at $128.94 yesterday.
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