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Fly News Breaks for July 13, 2018
XLRN
Jul 13, 2018 | 08:05 EDT
As previously reported, Morgan Stanley analyst Matthew Harrison downgraded Acceleron to Equal Weight from Overweight, stating that he believes the risk/reward is now more balanced with both of its Phase 3 readouts being reflected in valuation with the stock's recent move higher. He expects limited upside for the shares until management presents greater detail on the magnitude of the efficacy response and safety, which he thinks likely will come at the ASH meeting. Harrison keeps a $50 price target on Acceleron shares.
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