TD Cowen Names Agios Pharma (AGIO) 'Best Smidcap Idea'

TD Cowen analyst Marc Frahm reiterated a Buy rating on Agios Pharma (NASDAQ: AGIO).

The analyst commented: "Best Smidcap Ideas: High Conviction Into Mitapivat's SCD Readout by YE:25; We have conviction that mitapivat will demonstrate a VOC benefit (data YE) in the Ph3 RISE-UP trial, opening up ~$4B in SCD sales. With shares trading at an EV of just $500MM, and the backstop of thalassemia sales (Sept 7 PDUFA) that we believe could approach $1B globally, we view the risk-reward into SCD data as highly positive and Agios is our top smid cap pick.

Agios will report Ph III data for mitapivat in SCD in Q4:25. We view prior Ph II SCD data (up to 70% VOC reduction) and corroborating datasets from prior single arm trials and Novo's etavopivat (~46% VOC reduction) as providing compelling validation of PKR activators' ability to drive VOC benefits. We have high conviction that mitapivat's Ph III trial will be successful on VOCs, support up to $4B sales, and drive dramatic upside (100%+) to shares by YE:25."

For an analyst ratings summary and ratings history on Agios Pharma click here. For more ratings news on Agios Pharma click here.

Shares of Agios Pharma closed at $34.30 yesterday.

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