Acceleron cut to neutral by Morgan Stanley

Acceleron downgraded to Equal Weight after data-driven rally at Morgan Stanley. 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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