Agios Pharmaceuticals initiated with an Outperform at Scotiabank

Scotiabank analyst Greg Harrison initiated coverage of Agios Pharmaceuticals with an Outperform rating and $51 price target The firm is bullish on Agios shares as the company executes its vision of developing lead asset Pyrukynd in increasingly larger indications. Two positive Phase 3 readouts have “de-risked” the thalassemia program, which should launch next year and create leverage on top of the initial measured launch in pyruvate kinase deficiency, the analyst tells investors in a research note.