Oppenheimer analyst Mark Breidenbach maintained a Hold rating on Agios Pharma (AGIO) today. The company’s shares closed yesterday at $57.71.
Breidenbach observed:
“With two FDA approvals under its belt and multiple label expansions potentially on the horizon, we believe Agios has the hallmarks of a long-term success story. We see IDHIFA and TIBSOVO as important additions to the armamentarium for acute myeloid leukemia (AML), but we believe both drugs may face significant headwinds from an evolving AML competitive landscape, and we are revising our estimates. Further, we applaud development of mitapivat in pyruvate kinase deficiency (PKD), but we foresee potential difficulty in commercializing a drug that may not deliver significant benefit to patients in greatest need—those who suffer from the most severe forms of PKD. In our view, the commercial potential of the company’s lead programs is fairly reflected in Agios’ current market capitalization and we assume coverage with a Perform rating.”
According to TipRanks.com, Breidenbach is a 1-star analyst with an average return of -1.8% and a 38.8% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics Inc, Alpine Immune Sciences Inc, and Global Blood Therapeutics.
Agios Pharma has an analyst consensus of Strong Buy, with a price target consensus of $85.
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Based on Agios Pharma’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $91.79 million. In comparison, last year the company had a GAAP net loss of $88.29 million.
Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AGIO in relation to earlier this year. Most recently, in December 2018, Scott Biller, the CSO of AGIO bought 20,500 shares for a total of $47,765.
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Agios Pharmaceuticals, Inc. is a biopharmaceutical company, which engages in the discovery and development of novel investigational medicines to treat cancer and rare genetic diseases. It focuses on diseases that are directly caused by changes in genes or chromosomes, often passed from one generation to the next.
