H.C. Wainwright starts Agios Pharmaceuticals coverage with 'buy'

Agios Pharmaceuticals

24/02/2025 12:45

** Brokerage H.C. Wainwright initiates coverage on drugmaker
Agios Pharmaceuticals  AGIO.O  with "buy" rating
    ** Brokerage sees co's lead drug mitapivat as a
"pipeline-in-a-product" 
     ** Expects two new and larger label expansions by 2026 in
blood disorders thalassemia and sickle cell disease
    ** Mitapivat was approved by the U.S. FDA in 2022 and is
sold under the brand name Pyrukynd to treat low red blood cell
counts caused by the early breakdown of red blood cells in
adults with pyruvate kinase deficiency (PKD)
    ** While commercial opportunity in PKD is small, brokerage
believes it increases awareness of mitapivat ahead of larger
launches
    ** Brokerage sees 'significant advantage commercially' for
an efficient launch to treat thalassemia with expected FDA
approval by September 7, and potentially later for sickle cell
disease in H2 2026
     ** The new price target represents a 64.7% upside to the
stock's last close
    ** AGIO has risen ~31% in the last 12 months

 (Reporting by Siddhi Mahatole)
 ((Siddhiprabhanjan.mahatole@thomsonreuters.com))