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Fly News Breaks for February 13, 2020
Feb 13, 2020 | 12:45 EDT
Piper Sandler analyst Tyler Van Buren says Agios Pharmaceuticals remains one of his favorite names for 2020 following the company's Q4 results. Tibsovo sales steadily increased quarter-over-quarter and management is confident in the Tibsovo Marketing Authorization Application data package, despite the recent withdrawal of Idhifa, Van Buren tells investors in a research note. He continues to believe that Agios could reacquire rights to Idhifa from Bristol-Myers (BMY) in the near-term, which he says would be "significantly value-creating." Further, the analyst thinks "significant value" is yet to be created with mitapivat and notes that positive AG-636 data could lead to "another meaningful hemeonc opportunity." Van Buren reiteates an Overweight rating on Agios Pharmaceuticals with a $70 price target.