Agios Pharmaceuticals Inc (NASDAQ:AGIO), a leader in the fields of cancer metabolism and rare genetic disorders of metabolism, announced dose administration for the first patient in a Phase 1, open-label, dose-escalation and expansion study of single agent AG-881, a small molecule that has shown in preclinical studies to fully penetrate the blood-brain barrier and inhibit isocitrate dehydrogenase-1 (IDH1) and IDH2 mutations in cancer models.
“The initiation of this study represents a significant milestone for Agios, as it marks the third program from our portfolio of IDH inhibitors to enter the clinic in less than two years,” said Chris Bowden, M.D., chief medical officer of Agios. “We look forward to producing important early data to guide our future development plans and continuing to demonstrate Agios’ leadership in cancer metabolism and drug development for IDH inhibitors.”
“We are eager to explore the profile of AG-881 as we continue to investigate the role of IDH inhibitors for the treatment of patients with IDH mutant-positive tumors,” said Howard Burris, M.D., Sarah Cannon Research Institute, an investigator for the study. “The Phase 1 study of this second-generation IDH inhibitor expands the opportunities for clinical development in the genetically defined spectrum of IDH1 or IDH2 mutant-positive tumors.” (Original Source)
Shares of Agios Pharmaceuticals closed yesterday at $103.63 . AGIO has a 1-year high of $138.85 and a 1-year low of $33.01. The stock’s 50-day moving average is $113.05 and its 200-day moving average is $110.47.
On the ratings front, Agios Pharmaceuticals has been the subject of a number of recent research reports. In a report issued on June 16, MLV & Co. analyst Arlinda Lee reiterated a Buy rating on AGIO, with a price target of $130, which implies an upside of 25.4% from current levels. Separately, on June 15, Canaccord Genuity’s John Newman reiterated a Hold rating on the stock and has a price target of $93.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Arlinda Lee and John Newman have a total average return of 8.7% and 20.1% respectively. Lee has a success rate of 50.8% and is ranked #887 out of 3640 analysts, while Newman has a success rate of 64.5% and is ranked #90.
The street is mostly Neutral on AGIO stock. Out of 4 analysts who cover the stock, 3 suggest a Hold rating and one recommend to Buy the stock. The 12-month average price target assigned to the stock is $115.67, which implies an upside of 11.6% from current levels.
Agios Pharmaceuticals Inc is engaged in the development of medicines to treat cancer metabolism and inborn errors of metabolism, which are a subset of orphan genetic metabolic diseases.