Raymond James Resumes Agios Pharma (AGIO) at Outperform

Raymond James analyst Danielle Brill resumes coverage on Agios Pharma (NASDAQ: AGIO) with a Outperform rating and a price target of $51.00.

The analyst comments "AGIO - Reinstate at Outperform and a $51 PT. SCD appears to be all upside from current levels, and while we view it as a high-risk trial given the (co)-primary VoC endpoint, we believe the MoA is distinct from Oxbryta (which PFE recently voluntarily pulled from the market). Also, based on KOL checks, it seems more likely that mitapivat's HgB benefits will translate to VoC relief vs Oxbryta. Furthermore, without Oxbryta in the market, the commercial opportunity for SCD is now wide open for AGIO. Given the asymmetric risk/reward ahead of the readout next year, we recommend buy."

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 $40.89 yesterday.

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