10 Oversold Small Cap Stocks to Buy Now

8. Agios Pharmaceuticals Inc. (NASDAQ:AGIO)

Agios Pharmaceuticals Inc. (NASDAQ:AGIO) is one of the 10 oversold small cap stocks to buy now.

On April 21, BofA analyst Alec Stranahan reduced the price target on Agios Pharmaceuticals Inc. (NASDAQ:AGIO) to $41 from $44, while maintaining a Buy rating on the stock. Stranahan highlighted that Agios intends to seek accelerated approval and has already filed a proposal for a confirmatory trial with an updated primary endpoint.

Nevertheless, the analyst noted that topline results of the HIBISCUS study of Novo Nordisk’s etavopivat for sickle cell disease will pose a regulatory risk for Agios’ mitapivat. Despite such competitive risks, the stock is still amongst the best oversold small-cap names right now.

On April 20, H.C. Wainwright analyst Emily Bodnar reduced the price target on Agios Pharmaceuticals Inc. (NASDAQ:AGIO) from $65 to $50, while maintaining a Buy rating on the stock. She attributed this downward revision to Novo Nordisk’s HIBISCUS Phase 3 trial, noting that both primary endpoints were met, which is sure to result in success for sickle cell disease.

Novo’s etavopivat is taken once a day compared to Agios’ mitapivat taken twice a day. Given that Novo offers multiple medications for preventing hemorrhages in hemophilia A/B patients, the company expects to secure a large market share, according to the analyst. The HIBISCUS data is expected to reduce the commercialization potential of mitapivat.

Agios Pharmaceuticals Inc. (NASDAQ:AGIO) is engaged in discovering and creating therapeutics in the field of cellular metabolism in the United States. It offers a range of drugs for different illnesses. Its product offering includes PYRUKYND (mitapivat), AQVESME, tebapivat, AG-181, and AG-236.