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Fly News Breaks for February 25, 2016
CELG, XLRN
Feb 25, 2016 | 14:36 EDT
Piper Jaffray analyst Edward Tenthoff noted that Acceleron (XLRN) and partner Celgene (CELG) are refocusing Sotatercept in pre-dialysis CKD and now expect to provide an update on the development strategy in the second half of the year. Based on that, Tenthoff pushed out his approval expectation for that indication to 2022 and lowered his price target on the stock to $37 from $61, though he maintains an Overweight rating on Acceleron.
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