Agios Raises Price Target to $54 After Phase 3 Mitapivat Success and $25M Cevidoplenib Deal
AGIO•H.C. Wainwright raised Agios Pharmaceuticals' price target to $54.00 following RISE UP Phase 3 mitapivat data showing hemoglobin response gains and reduced transfusions in sickle cell disease. Agios licensed rights to cevidoplenib for $25 million upfront to treat immune thrombocytopenia with up to $1.0 billion in potential U.S. peak sales.
1. Price Target Increase
H.C. Wainwright reiterated its Buy rating on Agios Pharmaceuticals and raised the price target to $54.00, reflecting elevated confidence in the company’s late-stage rare disease pipeline and commercial outlook.
2. RISE UP Phase 3 Mitapivat Efficacy
The RISE UP Phase 3 trial in sickle cell disease demonstrated that mitapivat significantly improved hemoglobin response compared with placebo and reduced the need for blood transfusions, with treated patients reporting fewer pain crises and less fatigue.
3. Cevidoplenib Licensing Expansion
Agios agreed to license global rights to cevidoplenib for immune thrombocytopenia, making a $25 million upfront payment and positioning the therapy for potential U.S. peak sales of $1.0 billion.
