Zacks Investment Research upgraded shares of Agios Pharmaceuticals (NASDAQ:AGIO) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. They currently have $84.00 target price on the biopharmaceutical company’s stock.
According to Zacks, “Agios received an FDA approval of Idhifa (enasidenib) in August for treatment of AML, which was a huge boost, given the immense commercial potential in the target market. We are also optimistic about its collaboration with Celgene as it provides Agios with regular funds. The company’s progress with the pipeline candidates, AG-120 and AG-881, has been quite impressive too. In December, the company submitted a new drug application to the FDA for AG-120 for treatment of AML. Shares of the company have outperformed the industry in the last one year. However, Agios depends heavily on partner Celgene for revenues as Idhifa is only in the early stages of launch. Also, the decision to discontinue the development of AG-519 was disappointing. Stiff competition is another matter of concern for the company.”
AGIO has been the topic of several other reports. Credit Suisse Group boosted their target price on Agios Pharmaceuticals from $61.00 to $66.00 and gave the company an outperform rating in a research note on Thursday, November 2nd. Oppenheimer restated a buy rating and issued a $83.00 target price on shares of Agios Pharmaceuticals in a research note on Monday, December 11th. Canaccord Genuity set a $90.00 target price on Agios Pharmaceuticals and gave the company a buy rating in a research note on Tuesday, December 12th. Cann reiterated a buy rating on shares of Agios Pharmaceuticals in a research report on Tuesday, December 5th. Finally, SunTrust Banks set a $80.00 price target on Agios Pharmaceuticals and gave the company a buy rating in a research report on Sunday, November 19th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $77.64.
Shares of Agios Pharmaceuticals (NASDAQ AGIO) opened at $69.89 on Tuesday. The stock has a market capitalization of $3,322.60, a price-to-earnings ratio of -11.15 and a beta of 1.83. Agios Pharmaceuticals has a one year low of $39.24 and a one year high of $76.02.
Agios Pharmaceuticals (NASDAQ:AGIO) last issued its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($1.59) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.78) by $0.19. The firm had revenue of $11.35 million for the quarter, compared to analyst estimates of $10.85 million. Agios Pharmaceuticals had a negative return on equity of 69.64% and a negative net margin of 506.39%. The business’s revenue was up 26.4% on a year-over-year basis. During the same period in the previous year, the company posted ($1.63) earnings per share. equities analysts forecast that Agios Pharmaceuticals will post -6.59 EPS for the current fiscal year.
In other news, Director Lewis Clayton Jr. Cantley sold 3,838 shares of Agios Pharmaceuticals stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $59.37, for a total value of $227,862.06. Following the completion of the transaction, the director now directly owns 80,851 shares in the company, valued at $4,800,123.87. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Scott Biller sold 2,146 shares of Agios Pharmaceuticals stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $62.69, for a total value of $134,532.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,130 shares of company stock valued at $5,561,250. 5.43% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of AGIO. FMR LLC grew its position in Agios Pharmaceuticals by 14.1% during the second quarter. FMR LLC now owns 7,227,331 shares of the biopharmaceutical company’s stock worth $371,846,000 after buying an additional 895,584 shares in the last quarter. Vanguard Group Inc. grew its position in Agios Pharmaceuticals by 23.8% during the second quarter. Vanguard Group Inc. now owns 3,214,770 shares of the biopharmaceutical company’s stock worth $165,401,000 after buying an additional 617,379 shares in the last quarter. BlackRock Inc. grew its position in Agios Pharmaceuticals by 23.5% during the second quarter. BlackRock Inc. now owns 2,675,380 shares of the biopharmaceutical company’s stock worth $137,648,000 after buying an additional 508,306 shares in the last quarter. Alkeon Capital Management LLC purchased a new position in Agios Pharmaceuticals during the third quarter worth about $30,489,000. Finally, Janus Henderson Group PLC purchased a new position in Agios Pharmaceuticals during the second quarter worth about $20,423,000. Institutional investors and hedge funds own 94.32% of the company’s stock.
Agios Pharmaceuticals Company Profile
Agios Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company’s therapeutic areas of focus are cancer and rare genetic metabolic disorders, which are a group of over 600 rare genetic diseases caused by mutations, or defects, of single metabolic genes. The Company’s cancer product candidates are enasidenib and ivosidenib (AG-120), which target mutated isocitrate dehydrogenase 2 (IDH2) and isocitrate dehydrogenase 1 (IDH1), respectively, and AG-881, which targets both mutated IDH1 and mutated IDH2.
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