Acceleron soars on bumped-up IPO

Acceleron Pharma Inc. (NASDAQ:XLRN) was up $4.99 (33%) to $19.99 on Thursday after raising $83.7 million through the sale of 5.6 million shares at $15 in a bumped-up IPO at the high end of its proposed range. The $15 price valued the company at $399.5 million, not including the $10 million in shares partner Celgene Corp. (NASDAQ:CELG) purchased in a concurrent private placement at the same price.

Acceleron set a price range of $13-$15 earlier this month, proposing to sell 4.7 million shares. The company filed to raise up to $74.8 million in August. Citigroup; Leerink; Piper Jaffray; and JMP Securities are underwriters of the IPO. ...