As previously reported, RBC Capital analyst Luca Issi downgraded Agios Pharmaceuticals (AGIO) to Sector Perform from Outperform with a price target of $28, down from $57, after the company reported top-line data for mitapivat in sickle cell disease. While the drug is “clearly active,” it “fell short on the most important endpoints for patients,” including crisis, hospitalization and fatigue, the analyst tells investors. The firm’s reduced estimates reflect lower odds of success for SCD and lower uptake if approved, the analyst noted.
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Read More on AGIO:
- Buy Rating Reaffirmed for Agios Pharma’s Mitapivat Amid Promising Trial Results and Safety Profile
- Agios downgraded to Sector Perform from Outperform at RBC Capital
- H.C. Wainwright cuts Agios target, says selloff overdone
- Agios Pharmaceuticals falls -50.1%
- Fulcrum’s pociredir shows promising early efficacy vs. mitapivat, says Leerink