Analyst Alec Stranahan of Bank of America Securities reiterated a Buy rating on Agios Pharma, reducing the price target to $50.00.
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Alec Stranahan has given his Buy rating due to a combination of factors that highlight Agios Pharma’s promising growth prospects. The company has reported stronger-than-expected revenues from its drug Pyrukynd, which is used to treat pyruvate kinase deficiency (PKD). This success is expected to continue as Agios shifts its focus towards the upcoming thalassemia launch, with a PDUFA date set for September 7, 2025. The anticipation of a broad label for thalassemia, combined with diminishing concerns from the AdCom, supports a positive outlook.
Additionally, the RISE UP study results for sickle cell disease (SCD) anticipated in late 2025 are seen as a pivotal moment for Agios’s long-term growth. The company’s strategic partnerships outside the US, particularly with Avanzanite Bioscience and NewBridge, are expected to optimize the launch and allow Agios to concentrate on the US market. Furthermore, Agios’s early-stage pipeline, including developments in SCD and polycythemia vera, continues to progress well, adding to the company’s potential for future expansion.
In another report released yesterday, H.C. Wainwright also maintained a Buy rating on the stock with a $56.00 price target.
AGIO’s price has also changed slightly for the past six months – from $34.390 to $37.220, which is a 8.23% increase.