TD Cowen analyst Marc Frahm has maintained their bullish stance on AGIO stock, giving a Buy rating yesterday.
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Marc Frahm has given his Buy rating due to a combination of factors surrounding Agios Pharma’s recent developments and future prospects. The company reported higher-than-expected revenue for Q2 from Pyrkynd, indicating strong market performance. Additionally, the submission of mitapivat’s supplemental New Drug Application (sNDA) for thalassemia is under active FDA review, with no advisory committee meeting expected, suggesting a smooth approval process.
Furthermore, Agios is strategically targeting a significant portion of the thalassemia patient population, which could lead to substantial market penetration. The management’s proactive approach, including building a dedicated sales force, positions the company well for future growth. Despite some concerns about liver toxicity in thalassemia patients, these issues appear to be specific and manageable, reinforcing confidence in the broader potential of mitapivat across multiple indications.
In another report released yesterday, H.C. Wainwright also maintained a Buy rating on the stock with a $56.00 price target.