Wedbush analyst Liana Moussatos believes another bidder may seek to acquire Receptos (RCPT), which has agreed to a $232 per share takeover deal with Celgene (CELG), noting that she previously estimated Receptos could be valued at $348 per share, or about $10.9B, in a buyout. Moussatos noted that Celgene said it expects annual peak sales for Receptos' Ozanimod to reach about $4B-$6B for RMS and UC, making its acquisition price of $7.2BN only a bit more than about 1X peak sales without accounting for other possible indications or the rest of its pipeline. Moussatos, who told investors she sees "plenty" of potential upside to justify a rival bidder stepping in, reiterated the firm's Outperform rating and $348 acquisition value on Receptos shares.