Leerink initiates Acceleron Pharma at Outperform, sees 50% upside

Leerink starts Acceleron Pharma (XLRN -0.3%) at Outperform.

The company is "pushing innovation boundaries with lead compounds for anemia (Sotatercept, ACE-536) and oncology (Dalantercept)," analyst Marko Kozul says.

Leerink thinks Sotatercept and ACE-536 "have potential to compete directly with ESAs" such as Aranesp and Epogen (AMGN) and Procrit (JNJ).

As for Dalantercept (ACE-041), Kozul says it "could be used synergistically with any VEGF-inhibitor."

Finally, Kozul says XLRN "has important catalysts for almost every quarter through YE14."

Price target is set at $33.

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