Goldman Sachs Downgrades Agios Pharma (AGIO) to Sell

July 30, 2021 6:55 AM EDT
Get Alerts AGIO Hot Sheet
Price: $47.55 -0.42%

Rating Summary:
    15 Buy, 6 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 17 | Down: 5 | New: 35
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Goldman Sachs analyst Salveen Richter downgraded Agios Pharma (NASDAQ: AGIO) from Neutral to Sell with a price target of $39.00 (from $58.00).

The analyst comments "We downgrade AGIO from Neutral to Sell and lower our 12-month PT to $39 from $58. AGIO's late-stage clinical pipeline is centered on a single asset, mitapivat, a small molecule activator of pyruvate kinase R (PKR) that is awaiting approval (we anticipate a 2022 launch) in the lead indication of pyruvate kinase deficiency – informed by KOL diligence, we reduce our revenue projections on concerns around patient identification, market size and uptake. We also question the follow-on opportunity in sickle cell disease (SCD), given the evolving competitive landscape/current launches. Further, we see a lack of meaningful near-term, value driving catalysts. We do not view AGIO’s strategic decision to engage in share buybacks rather than pursue novel R&D or BD following the sale of the oncology business to Servier as constructive."

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 $49.84 yesterday.



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