Company

Bank

Analyst

Coverage

Opinion

Wk chg

4/11 cls

Agios Pharmaceuticals Inc. (NASDAQ:AGIO)

JPMorgan

Geoffrey Meacham

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Overweight (from neutral)

22%

$43.32

Meacham also raised his target to $55 from $40 after Agios said AG-221 led to three complete remissions, two complete remissions with incomplete platelet recovery and one partial response in seven evaluable patients with hematologic malignancies in a Phase I trial (see B18). Data for the inhibitor of mutated isocitrate dehydrogenase 2 (IDH2) were presented at the American Association for Cancer Research meeting in San Diego. Meacham assumes launch in 2017/2018 with peak sales of $990M worldwide. Celgene Corp. (NASDAQ:CELG) has the exclusive option to license AG-221 from Agios at the end of Phase I testing.