11 Cheap Biotech Stocks to Buy According to Hedge Funds

8. Agios Pharmaceuticals, Inc. (NASDAQ:AGIO)

Number of Hedge Fund Holders: 29 

Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) is a commercial-stage biopharmaceutical company focused on therapies for rare diseases, particularly in cellular metabolism. Its flagship product, PYRUKYND (mitapivat), targets hemolytic anemias, including sickle cell disease and thalassemia.

In Q2 2025, Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) reported $12.5 million in net revenues from PYRUKYND, up 45% year-over-year, reflecting growing market adoption. The company is preparing for a key FDA regulatory milestone with the PDUFA goal date on September 7, 2025, for PYRUKYND’s supplemental New Drug Application in thalassemia. Topline results from the Phase 3 RISE UP trial in sickle cell disease are expected by year-end 2025, setting the stage for a potential U.S. launch in 2026.

The corporation is also advancing its pipeline with a Phase 2 trial for tebapivat in sickle cell disease and IND clearance for AG-236 targeting polycythemia vera. New clinical data on mitapivat and tebapivat were presented at the 30th European Hematology Association Congress, highlighting ongoing research and collaborations in rare blood disorders.

Despite a net loss of $112 million in Q2 2025 due to increased R&D and commercial spending, the company maintains a strong financial position with $1.3 billion in cash and equivalents to support pipeline development and future launches. Analyst confidence remains high, with Bank of America Securities reaffirming a Buy rating and a $52 price target, reflecting optimism about Agios Pharmaceuticals, Inc. (NASDAQ:AGIO)’ growth trajectory and potential in rare disease therapeutics.