Agios Price Target Cut On Cancer Drug Data Delay
Biotech Agios Pharmaceuticals (AGIO) continued its selloff Monday as Canaccord Genuity lowered its price target based on skepticism about one of its cancer drugs. Agios stock dropped 10% Friday on AG-221 clinical-trial results, though investment bank Cowen & Co. said in a research report that the numbers were misinterpreted. In his report Monday, Canaccord analyst John Newman agreed with that, but focused his concern on a different project