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Fly News Breaks for January 28, 2020
XLRN
Jan 28, 2020 | 07:28 EDT
Credit Suisse analyst Martin Auster raised his price target for Acceleron to $99 from $58 following "positive" sotatercept PULSAR PAH Phase 2 results. The analyst argues that positive development of sotatercept provides two sources of value, namely provides Acceleron with its first wholly owned late-stage asset, expanding the story beyond the prevailing consensus of being "just a luspatercept royalty stream," and elevates the company's M&A attractiveness. Auster has an Outperform rating on the shares.
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