Agios Pharmaceuticals price target lowered to $32 from $54 at BofA

BofA analyst Alec Stranahan lowered the firm’s price target on Agios Pharmaceuticals (AGIO) to $32 from $54 and keeps a Buy rating on the shares. The firm notes Agios shares are down meaningfully after announcing topline results for the phase 3 RISE UP study of mitapivat in SCD, the larger of the two binaries expected before year-end 2025. Though hitting on Hb response, mitapivat showed only modest directional benefit on both SCPC and fatigue. While management has highlighted that hitting either primary endpoint would be sufficient for approval, BofA sees an uncertain regulatory and commercial path forward.