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XLRN

Acceleron

$33.95

1.52 (4.69%)

, CELG

Celgene

$133.68

0.85 (0.64%)

05:40
06/23/17
06/23
05:40
06/23/17
05:40

Acceleron says results from ongoing trials demonstrate increases in hemoglobin

Acceleron Pharma (XLRN) announced preliminary results from the ongoing Phase 2 studies of luspatercept in patients with lower-risk myelodysplastic syndromes, or MDS, at the 22nd Congress of the European Hematology Association in Madrid, Spain. Luspatercept is being developed to treat a range of hematologic diseases including MDS, beta-thalassemia, and myelofibrosis as part of a global collaboration between Acceleron and Celgene (CELG). "This Phase 2 update further supports our confidence that luspatercept could become a potential first-in-class treatment for lower-risk MDS patients. With some patients continuing on study for more than 26 months, we are very encouraged by both the durability of response and safety profile of luspatercept," said Habib Dable, President and CEO of Acceleron. "With Phase 3 trials across two indications ongoing and new studies planned, we and Celgene remain committed to exploring the full opportunity for luspatercept to transform patients' lives."

XLRN

Acceleron

$33.95

1.52 (4.69%)

CELG

Celgene

$133.68

0.85 (0.64%)

  • 23

    Jun

XLRN Acceleron
$33.95

1.52 (4.69%)

06/13/17
OPCO
06/13/17
DOWNGRADE
OPCO
Perform
Acceleron downgraded to Perform from Outperform at Oppenheimer
Oppenheimer analyst Leah Rush Cann downgraded Acceleron Pharma to Perform after dalantercept plus axitinib failed to meet its primary endpoint in advanced renal cell carcinoma. The analyst lowered her 2021 revenue estimate by nearly 68% to $120.6M to reflect the discontinuation of dalantercept.
06/13/17
FBCO
06/13/17
NO CHANGE
Target $35
FBCO
Outperform
Acceleron price target lowered to $35 from $46 at Credit Suisse
Credit Suisse analyst Alethia Young removed dalantercept from her valuation of Acceleron after the company announced that they will discontinue development of the drug following the failure of their RCC study. Removing the drug from her model led Young to lower her price target on the stock to $35 from $46, though she keeps an Outperform rating, citing the long-term potential seen for luspatercept.
06/13/17
JMPS
06/13/17
NO CHANGE
JMPS
Acceleron should be bought on any weakness, says JMP Securities
After Acceleron's dalantercept missed its primary endpoint in advanced renal cell carcinoma in a trial, JMP Securities analyst Michael King says that the drop in the stock is overdone. He cut his price target on the shares to $34 from $39 but recommends buying the shares today on any weakness.
06/13/17
06/13/17
NO CHANGE
Target $63

Outperform
FBR keeps $61 target on Acceleron after dalantercept failure
FBR Capital analyst Ed White says that while the dalantercept failed Phase II study is "disappointing," his focus remains on luspatercept, which is being studied in beta-thalassemia and myelodysplastic syndrome. Celgene (CELG) estimates peak sales potential of over $2B for luspatercept, which could translate into more than $400M in revenue for Acceleron Pharma (XLRN), White tells investors in a research note. He thinks luspatercept could be brought to market by 2019. White's price target for Acceleron remains $63 as he had only a 15% probability of approval and a low revenue estimate for dalantercept. The analyst reiterates an Outperform rating on the shares.
CELG Celgene
$133.68

0.85 (0.64%)

06/16/17
LEER
06/16/17
UPGRADE
Target $150
LEER
Outperform
Celgene upgraded to Outperform from Market Perform at Leerink
Leerink analyst Geoffrey Porges upgraded Celgene to Outperform and raised his price target for the shares to $150 from $146.
06/16/17
LEER
06/16/17
UPGRADE
Target $150
LEER
Outperform
Leerink upgrades Celgene to Outperform on 'discounted valuation'
Leerink analyst Geoffrey Porges upgraded Celgene to Outperform from Market Perform and raised his price target for the shares to $150 from $146. The biopharmaceutical company closed yesterday down 43c to $120.61. The analyst, who points out his revenue estimates for 2017-2019 are above the consensus, views Celgene's valuation as "discounted." The analyst expects the company's operating results to rebound in Q2 and stock's multiple to recover in Q3 "towards a more growth-appropriate range." He also anticipates "significant upward revisions" to consensus expectations in Q3.
06/16/17
06/16/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Teva (TEVA) upgraded to Neutral from Underperform at Mizuho with analyst Irina Koffler citing reduced near-term risk of a Mylan's (MYL) generic Copaxone approval, potential asset sale announcements, and encouraging May subscription trends. 2. Brookfield Infrastructure (BIP) upgraded to Outperform from Neutral at Credit Suisse with analyst Andrew Kuske saying the potential inclusion of Brookfield Infrastructure into the S&P Index is likely to have a "meaningful impact" on demand around the third quarter index revision. 3. Celgene (CELG) upgraded to Outperform from Market Perform at Leerink with analyst Geoffrey Porges saying he views Celgene's valuation as "discounted." 4. Regency Centers (REG) upgraded to Buy from Hold at Jefferies with analyst George Hoglund saying he believes the recent pullback in the shares creates an attractive entry point. 5. Nanometrics (NANO) upgraded to Buy from Hold at Stifel with analyst Patrick Ho citing valuation, along with his belief that wafer lab equipment spending will be strong next year and that the "elevated spending" level may be sustainable. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/22/17
LEER
06/22/17
NO CHANGE
LEER
Leerink sees reasons for biotech rally to continue
Leerink analyst Geoffrey Porges attributes the recent strength in the biotech sector to a lessening of the perceived fears of pricing regulations and a favorable tone from the FDA. However, he believes the sector could advance at least 15% more, as he foresees more positive operating results and still expects more industry consolidation. Among large cap biotech names, Porges maintains Outperform ratings on Regeneron (REGN), Celgene (CELG), Vertex (VRTX) and Alexion(ALXN) and keeps Market Perform ratings on AbbVie (ABBV), Amgen (AMGN), Gilead (GILD) and Biogen (BIIB).

TODAY'S FREE FLY STORIES

KSU

Kansas City Southern

$105.80

-0.07 (-0.07%)

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  • 06

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RXII

RXi Pharmaceuticals

$0.58

-0.02 (-3.36%)

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WIN

Windstream

$1.98

0.06 (3.13%)

17:27
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CVM

CEL-SCI

$2.44

-0.22 (-8.27%)

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Breaking Syndicate news story on CEL-SCI »

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TRN

Trinity Industries

$28.20

-0.03 (-0.11%)

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LPTN

Lpath

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Breaking Hot Stocks news story on Lpath »

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PGR

Progressive

$48.63

0.12 (0.25%)

17:08
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Progressive CFO sells 50,000 common shares »

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TMO

Thermo Fisher

$172.57

-0.32 (-0.19%)

17:06
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17:06
Hot Stocks
Thermo Fisher director sells 11,318 shares »

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  • 06

    Sep

SMBC

Southern Missouri Bancorp

$31.18

-0.05 (-0.16%)

17:06
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Southern Missouri Bancorp and Southern Missouri Bancshares to merge »

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IEP

Icahn Enterprises

$50.00

-0.2 (-0.40%)

16:58
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Breaking Hot Stocks news story on Icahn Enterprises »

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IEP

Icahn Enterprises

$50.00

-0.2 (-0.40%)

16:57
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Breaking Hot Stocks news story on Icahn Enterprises »

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IEP

Icahn Enterprises

$50.00

-0.2 (-0.40%)

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Breaking Hot Stocks news story on Icahn Enterprises »

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IEP

Icahn Enterprises

$50.00

-0.2 (-0.40%)

16:56
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Icahn no longer special advisor to President Trump on regulatory reform issues »

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NVTA

Invitae

$9.60

0.05 (0.52%)

16:55
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08/18
16:55
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Syndicate
Breaking Syndicate news story on Invitae »

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NVTA

Invitae

$9.60

0.05 (0.52%)

16:49
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Syndicate
Breaking Syndicate news story on Invitae »

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MU

Micron

$30.38

0.76 (2.57%)

16:48
08/18/17
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Hot Stocks
Micron director sells 25,000 common shares »

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  • 29

    Aug

  • 06

    Sep

INSY

Insys Therapeutics

$9.17

-0.11 (-1.19%)

16:42
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Insys agrees to pay $4.45M to settle opioid marketing suit »

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AKTX

Akari Therapeutics

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Breaking Syndicate news story on Akari Therapeutics »

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JMBA

Jamba

$9.11

-0.04 (-0.44%)

16:32
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HIL

Hill International

$4.50

0.2 (4.65%)

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TGT

Target

$55.65

-0.47 (-0.84%)

16:30
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16:30
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Options
Preliminary option volume of 23.2M today »

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NBEV

New Age Beverages

$3.51

-0.49 (-12.25%)

16:29
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New Age Beverages director sells nearly 42,000 common shares »

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  • 28

    Sep

ATW

Atwood Oceanics

$6.26

0.22 (3.64%)

, ESV

Ensco

$4.28

0.12 (2.88%)

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Atwood Oceanics, Ensco file proxy materials in connection with pending merger »

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ATW

Atwood Oceanics

$6.26

0.22 (3.64%)

ESV

Ensco

$4.28

0.12 (2.88%)

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NSRGY

Nestle

$83.76

-0.1 (-0.12%)

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