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Fly News Breaks for May 19, 2016
CELG, AGIO
May 19, 2016 | 09:09 EDT
Janney Capital analyst Debjit Chattopadhyay says Agios Pharmaceuticals' (AGIO) new deal with Celgene (CELG) adds $200M to Agios' balance sheet, and eliminates any near-term financing overhang as the company is now likely to exit 2016 with $390M in cash. The analyst raised his fair value estimate on Agios' shares to $52 from $43 but reiterates a Neutral rating on the stock.
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