Raymond James resumed coverage of Agios Pharmaceuticals (AGIO) with an Outperform rating and $51 price target Sickle cell disease appears to be all upside from current levels, and while it is a high-risk trial given the co-primary endpoint of vaso-occlusive crises, Raymond James believes the mechanism of action is distinct from Oxbryta, which Pfizer (PFE) recently voluntarily pulled from the market, the analyst tells investors in a research note. Without Oxbryta in the market, the commercial opportunity for SCD is now wide open for Agios, Raymond James argues.
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