Analyst Emily Bodnar of H.C. Wainwright maintained a Buy rating on Agios Pharma, retaining the price target of $56.00.
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Emily Bodnar’s rating is based on the assessment that recent patient deaths associated with Agios Pharma’s Pyrukynd treatment appear to be unrelated to the medication itself. The reported cases involved individuals with significant pre-existing conditions, such as advanced liver cancer, kidney failure, and severe cardiac issues, which are not known side effects of Pyrukynd. This suggests that the fatalities were more likely due to the patients’ underlying health conditions rather than the treatment.
Additionally, the approval of Pyrukynd by the Saudi FDA for the treatment of thalassemia is a positive development for Agios Pharma, indicating potential for market expansion and increased revenue. These factors contribute to a positive outlook for the company, justifying the Buy rating given by Emily Bodnar.
In another report released on August 1, Scotiabank also maintained a Buy rating on the stock with a $65.00 price target.