Agios Pharmaceuticals Inc. (AGIO) Raised to Hold at Zacks Investment Research
Agios Pharmaceuticals Inc. (NASDAQ:AGIO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Agios’ metabolic immuno-oncology focused collaboration with Celgene is encouraging. The deal will see Agios receiving funds in the form of upfront, regulatory and commercial milestone payments plus royalties. We are also positive on Agios gaining rights to AG120 from Celgene. Moreover, Agios’ collaboration with Celgene for two of its candidates – enasidenib and AG-881 – is noteworthy. Celgene is expected to seek FDA approval for enasidenib for the treatment of relapsed and/or refractory acute myeloid leukemia (AML) by 2016 end. Agios’ progress with rest of the pipeline is also impressive. Any hiccup on the development/regulatory front will hurt the company’s future prospect. Additionally, most of its candidates are still several years away from entering the market, if at all. Moreover, estimates have been moving down lately ahead of the company's third-quarter 2016 results.”
Several other equities research analysts have also recently weighed in on AGIO. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $46.00 price objective on shares of Agios Pharmaceuticals in a research report on Wednesday, August 10th. BTIG Research began coverage on shares of Agios Pharmaceuticals in a research report on Friday, August 19th. They set a “neutral” rating for the company. Canaccord Genuity reaffirmed a “buy” rating and set a $90.00 price objective on shares of Agios Pharmaceuticals in a research report on Thursday, September 8th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of Agios Pharmaceuticals in a research report on Tuesday, July 12th. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $63.44.
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Shares of Agios Pharmaceuticals (NASDAQ:AGIO) traded down 1.38% on Wednesday, hitting $48.58. 169,806 shares of the stock traded hands. Agios Pharmaceuticals has a 1-year low of $33.50 and a 1-year high of $81.77. The stock’s market cap is $1.85 billion. The stock has a 50 day moving average of $48.37 and a 200-day moving average of $46.96.
Agios Pharmaceuticals (NASDAQ:AGIO) last posted its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($1.47) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by $0.99. Agios Pharmaceuticals had a negative return on equity of 47.69% and a negative net margin of 320.33%. The firm had revenue of $6.98 million for the quarter, compared to the consensus estimate of $39.62 million. During the same period in the prior year, the company earned ($0.85) EPS. The company’s revenue for the quarter was down 47.2% compared to the same quarter last year. On average, equities research analysts expect that Agios Pharmaceuticals will post ($5.04) EPS for the current year.
In other news, Director Lewis Clayton Jr. Cantley sold 627 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $41.85, for a total value of $26,239.95. Following the completion of the transaction, the director now owns 112,167 shares of the company’s stock, valued at $4,694,188.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott Biller sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $50.00, for a total value of $250,000.00. Following the completion of the transaction, the insider now directly owns 48,270 shares of the company’s stock, valued at approximately $2,413,500. The disclosure for this sale can be found here. 10.55% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AGIO. Parametrica Management Ltd purchased a new position in Agios Pharmaceuticals during the third quarter valued at about $246,000. Daiwa SB Investments Ltd. bought a new stake in shares of Agios Pharmaceuticals during the third quarter valued at approximately $435,000. First Mercantile Trust Co. bought a new stake in shares of Agios Pharmaceuticals during the third quarter valued at approximately $137,000. BNP Paribas Arbitrage SA boosted its stake in shares of Agios Pharmaceuticals by 20.4% in the third quarter. BNP Paribas Arbitrage SA now owns 14,388 shares of the biopharmaceutical company’s stock valued at $760,000 after buying an additional 2,440 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Agios Pharmaceuticals by 17.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 53,619 shares of the biopharmaceutical company’s stock valued at $2,247,000 after buying an additional 7,808 shares during the last quarter. 81.63% of the stock is owned by institutional investors.
About Agios Pharmaceuticals
Agios Pharmaceuticals, Inc is a biopharmaceutical company. The Company is engaged in the discovery and development of orally available small molecule medicines for the treatment of cancer and rare genetic disorders (RGDs), which are a subset of orphan genetic metabolic diseases. Its cancer product candidates are AG-221 and AG-120, which targets mutated isocitrate dehydrogenase 2 and 1, or IDH2 and IDH1, respectively, and AG-881, which targets both mutated IDH1 and mutated IDH2.
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