In a report released yesterday, Mark Breidenbach from Oppenheimer maintained a Hold rating on Agios Pharma (AGIO). The company’s shares opened today at $62.
Breidenbach said:
“Monday, Agios reported updated results from an ongoing Phase 1 study of ivosidenib (TIBSOVO) in combination with azacitidine (azaC) in newly diagnosed acute myeloid leukemia (AML) patients with isocitrate dehydrogenase-1 (IDH1) mutations. We are pleased to see deepening responses since the last update, with the CR rate increasing to 57% as of the data cutoff on August 1, 2018 (vs. previously reported CR of 44%). Patients displayed a 12-month survival rate of 82%, which we view as impressive given that the trial enrolled patients medically unfit for standard induction chemotherapy. We believe the safety profile of the TIBSOVO combination was comparable to that of venetoclax + azaC and that TIBSOVO has an excellent chance of label expansion into the frontline setting. Reiterate Perform.”
According to TipRanks.com, Breidenbach is a 2-star analyst with an average return of 0.0% and a 43.4% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics Inc, Alpine Immune Sciences Inc, and Global Blood Therapeutics.
Currently, the analyst consensus on Agios Pharma is a Strong Buy with an average price target 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 57 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.
