TD Cowen analyst Marc Frahm has maintained their bullish stance on AGIO stock, giving a Buy rating today.
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Marc Frahm has given his Buy rating due to a combination of factors that highlight Agios Pharma’s promising outlook. The company reported higher-than-expected revenue for its drug Pyrkynd, indicating strong market performance. Additionally, Agios has a substantial cash reserve, which provides financial stability and the ability to invest in future growth opportunities.
Furthermore, the ongoing FDA review of mitapivat for thalassemia, with approvals already being granted in some regions, suggests a positive trajectory for the drug’s market potential. The absence of new liver safety signals and the anticipation of favorable Phase III trial results for sickle cell disease further bolster confidence in Agios’s pipeline. These elements collectively position Agios Pharma as a compelling investment opportunity, justifying the Buy rating.
Frahm covers the Healthcare sector, focusing on stocks such as Incyte, Agios Pharma, and Revolution Medicines. According to TipRanks, Frahm has an average return of 13.1% and a 52.24% success rate on recommended stocks.
In another report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $56.00 price target.