BofA Reaffirms Buy Rating for Agios Pharmaceuticals (AGIO)

BofA analyst Alec Stranahan reaffirmed a Buy rating for Agios Pharmaceuticals (AGIO) but reduced its price target to $41 from $44 due to regulatory risks posed by Novo Nordisk’s competing sickle cell disease drug, etavopivat. H.C. Wainwright also lowered its price target on AGIO to $50 from $65, citing the success of Novo Nordisk’s Phase 3 HIBISCUS trial for etavopivat, which is expected to reduce the commercialization potential of Agios’s mitapivat. Despite competitive challenges, AGIO is still considered a strong oversold small-cap stock.

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