SVB Leerink analyst Andrew Berens upgraded Agios Pharmaceuticals to Outperform from Market Perform and maintained an $80 price target. Following the company's Q4 earnings, Berens says he expects a rebound in investor sentiment, driven by the realization that the stock reaction to competitive and safety concerns in AML was likely "overstated." While he continues to believe that progress in the company's solid tumor pipeline is key to unlocking value in the longer term, at current levels he thinks investors are paying very little for an option on the numerous programs.