BofA Reaffirms Buy Rating for Agios Pharmaceuticals (AGIO)

BofA analyst Alec Stranahan reaffirmed a Buy rating for Agios Pharmaceuticals (AGIO) but reduced the price target to $41 from $44 due to competitive risks from Novo Nordisk’s etavopivat for sickle cell disease. H.C. Wainwright also lowered its price target on AGIO to $50 from $65 for similar reasons, as Novo Nordisk’s once-daily drug is seen as a strong competitor to Agios’s twice-daily mitapivat. Despite these challenges, Agios Pharmaceuticals, which develops therapeutics in cellular metabolism, is still considered among the best oversold small-cap stocks.

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