Why Acceleron Pharma Stock Jumped This Week

·2 min read
Why Acceleron Pharma Stock Jumped This Week

Shares of Acceleron Pharma (NASDAQ: XLRN), a mid-cap hematology and pulmonary drugmaker, rose by a healthy 16.2% this week. While the catalyst behind this double-digit jump wasn't immediately apparent (the company didn't release any material news during the week), Bloomberg News reported late Friday afternoon that the company is in advanced talks to be acquired for approximately $11 billion, or $180 a share in an all-cash deal. Although Bloomberg couldn't identify the potential suitor in its initial report, Bristol Myers Squibb (NYSE: BMY) is the obvious candidate.

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