SVB Leerink Downgrades Agios Pharma (AGIO) to Market Perform as Sickle Cell Program Delayed to 2022

March 1, 2021 7:26 AM EST
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Price: $54.69 -0.64%

Rating Summary:
    14 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 13 | New: 41
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SVB Leerink analyst Andrew Berens downgraded Agios Pharma (NASDAQ: AGIO) from Outperform to Market Perform with a price target of $50.00 (from $55.00) after the company reported 4Q20 earnings, updating a number of pipeline programs that shift the investment inflection to 2022.

The analyst stated "The update cal lgave us few reasons to believe there is additional near-term value that
could likely be recognized, particularly since the key sickle cell disease program will be delayed vs. our expectations. The thesis for AGIO shifted primarily to mitapivat and the anemia program, which includes pyruvate kinase deficiency (PKD), sickle cell disease (SCD) and thalassemia, opportunities that we think are fully valued in the near-term, with the core debates playing out in 2022 and beyond."

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 $47.44 yesterday.

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