TD Cowen analyst Marc Frahm has maintained their bullish stance on AGIO stock, giving a Buy rating today.
Marc Frahm has given his Buy rating due to a combination of factors surrounding Agios Pharma’s strategic developments and market potential. The company’s drug, mitapivat, is under FDA review for its supplemental New Drug Application (sNDA) for treating thalassemia, with a PDUFA date set for September 7, 2025. This regulatory progress, coupled with no anticipated advisory committee meeting, suggests a streamlined path towards approval, enhancing investor confidence.
Furthermore, Agios is expanding its commercial infrastructure, including a dedicated sales force, to support the launch of mitapivat. The company targets a significant portion of the thalassemia market, which represents a substantial opportunity given the estimated 6,000 diagnosed patients in the U.S. Despite some challenges like gradual adoption and potential liver toxicity concerns specific to thalassemia, the overall outlook for mitapivat as a multi-billion dollar product across various indications remains strong, underpinning the Buy rating.
In another report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $61.00 price target.