Cann Reaffirms Buy Rating for Agios Pharmaceuticals (AGIO)
Agios Pharmaceuticals (NASDAQ:AGIO)‘s stock had its “buy” rating reiterated by equities researchers at Cann in a research note issued to investors on Tuesday.
The analysts wrote, “Agios announced on December 5, 2017 the appointment of Jacqualyn Fouse, Ph.D. to its board of directors. Dr. Fouse has served as executive chair of Dermavant since July 2017 and was previously chief operating officer of Celgene and member of Celgene’s board of directors.””
A number of other analysts have also recently issued reports on the company. SunTrust Banks set a $80.00 target price on Agios Pharmaceuticals and gave the stock a “buy” rating in a research note on Sunday, November 19th. Oppenheimer set a $83.00 price target on Agios Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, November 17th. Credit Suisse Group upped their price target on Agios Pharmaceuticals from $61.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, November 2nd. J P Morgan Chase & Co reaffirmed a “buy” rating and set a $76.00 price target on shares of Agios Pharmaceuticals in a research report on Monday, September 18th. Finally, Royal Bank Of Canada initiated coverage on Agios Pharmaceuticals in a research report on Thursday, September 14th. They set an “outperform” rating and a $78.00 price target for the company. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $75.70.
Agios Pharmaceuticals (NASDAQ:AGIO) last announced its quarterly earnings data on Wednesday, November 1st. The biopharmaceutical company reported ($1.59) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.78) by $0.19. Agios Pharmaceuticals had a negative return on equity of 69.64% and a negative net margin of 506.39%. The firm had revenue of $11.35 million during the quarter, compared to analysts’ expectations of $10.85 million. During the same period in the previous year, the business posted ($1.63) EPS. The company’s quarterly revenue was up 26.4% compared to the same quarter last year. analysts forecast that Agios Pharmaceuticals will post -6.59 earnings per share for the current year.
In other Agios Pharmaceuticals news, insider Scott Biller sold 15,000 shares of Agios Pharmaceuticals stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $65.00, for a total value of $975,000.00. Following the completion of the sale, the insider now directly owns 6,264 shares in the company, valued at $407,160. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lewis Clayton Jr. Cantley sold 4,000 shares of Agios Pharmaceuticals stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $60.88, for a total value of $243,520.00. Following the completion of the sale, the director now owns 82,394 shares of the company’s stock, valued at $5,016,146.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 170,762 shares of company stock worth $11,657,608. 5.43% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. QS Investors LLC bought a new stake in Agios Pharmaceuticals during the second quarter worth $144,000. Teacher Retirement System of Texas bought a new stake in Agios Pharmaceuticals during the third quarter worth $225,000. S&CO Inc. purchased a new position in Agios Pharmaceuticals in the third quarter worth $227,000. Cubist Systematic Strategies LLC boosted its position in Agios Pharmaceuticals by 1,041.0% in the second quarter. Cubist Systematic Strategies LLC now owns 3,423 shares of the biopharmaceutical company’s stock worth $176,000 after purchasing an additional 3,123 shares during the last quarter. Finally, Macquarie Group Ltd. purchased a new position in Agios Pharmaceuticals in the third quarter worth $245,000. Institutional investors and hedge funds own 94.38% of the company’s stock.
About Agios Pharmaceuticals
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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