BUZZ-H.C. Wainwright starts Agios Pharmaceuticals coverage with 'buy'

Brokerage H.C. Wainwright initiates coverage on drugmaker Agios Pharmaceuticals AGIO.O with "buy" rating

Brokerage sees co's lead drug mitapivat as a "pipeline-in-a-product"

Expects two new and larger label expansions by 2026 in blood disorders thalassemia and sickle cell disease

Mitapivat was approved by the U.S. FDA in 2022 and is sold under the brand name Pyrukynd to treat low red blood cell counts caused by the early breakdown of red blood cells in adults with pyruvate kinase deficiency (PKD)

While commercial opportunity in PKD is small, brokerage believes it increases awareness of mitapivat ahead of larger launches

Brokerage sees 'significant advantage commercially' for an efficient launch to treat thalassemia with expected FDA approval by September 7, and potentially later for sickle cell disease in H2 2026

The new price target represents a 64.7% upside to the stock's last close

AGIO has risen ~31% in the last 12 months