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Fly News Breaks for May 16, 2019
AGIO
May 16, 2019 | 09:18 EDT
RBC Capital analyst Kennen MacKay raised his price target on Agios Pharmaceuticals to $90, saying the company's "successful" results in Phase 3 ClarIDHy trial for Tibsovo in cholangiocarcinoma have de-risked that indication and removed the overhang on the stock. The analyst contends that the findings set up the stock for upside in the back half of the year, adding that Agios Pharma's Phase 3 Mitapivat data in 2020 also position Tibsovo as an "underappreciated potentially blockbuster rare-disease drug."
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