MLV Reiterates Buy On Agios Pharmaceuticals Following AG-221 Clinical Data Release
In a research report published Wednesday, MLV analyst Arlinda Lee reiterated a Buy rating on Agios Pharmaceuticals (NASDAQ:AGIO) with a price target of $123, as the company presented clinical data for its AG-221 in AML and first clinical data for AG-348, at the annual American Society of Hematology (ASH) meeting.
Lee noted, “AG-221’s 56% RR appears consistent and durable, and AG-348’s pharmacologic profile and biologic activity look promising.” She continued, “In 2015, we expect AG-221 Ph1 expansion cohort data in AML/MDS and potentially AG-221 Ph2 solid tumor data, start of AG-120 Ph1 dose expansion cohorts in hematologic malignancies (1Q) and first AG-120 Ph1 solid tumor data, and start of Ph2 AG-348 in PKD.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Arlinda Lee has a total average return of 4.2% and a 50.0% success rate. Lee has a 6.2% average return when recommending AGIO, and is ranked #1732 out of 3401 analysts.