Agios Pharmaceuticals (NASDAQ:AGIO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.

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.”

Several other equities analysts have also recently issued reports on the company. Cann reiterated a “buy” rating on shares of Agios Pharmaceuticals in a research report on Tuesday, December 5th. Oppenheimer set a $83.00 target price on Agios Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, November 17th. BidaskClub cut Agios Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, December 16th. SunTrust Banks set a $80.00 target price on Agios Pharmaceuticals and gave the stock a “buy” rating in a research report on Sunday, November 19th. Finally, Credit Suisse Group boosted their target price on Agios Pharmaceuticals from $61.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, November 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the stock. Agios Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $75.00.

Shares of Agios Pharmaceuticals (NASDAQ AGIO) traded up $2.57 during mid-day trading on Monday, reaching $75.11. The company had a trading volume of 671,100 shares, compared to its average volume of 658,322. The firm has a market cap of $3,660.00, a PE ratio of -11.98 and a beta of 1.83. Agios Pharmaceuticals has a 1 year low of $39.24 and a 1 year high of $76.02.

Agios Pharmaceuticals (NASDAQ:AGIO) last issued its quarterly 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 analysts’ expectations of $10.85 million. Agios Pharmaceuticals had a negative return on equity of 69.64% and a negative net margin of 506.39%. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.63) EPS. equities research analysts forecast that Agios Pharmaceuticals will post -6.59 EPS for the current year.

In related news, CEO David P. Schenkein sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $63.85, for a total value of $383,100.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Scott Biller sold 2,146 shares of the company’s stock in a transaction that occurred 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. In the last 90 days, insiders sold 31,130 shares of company stock worth $1,968,170. Insiders own 5.43% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. QS Investors LLC purchased a new position in shares of Agios Pharmaceuticals during the 2nd quarter worth $144,000. Cubist Systematic Strategies LLC lifted its stake in shares of Agios Pharmaceuticals by 1,041.0% during the 2nd 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 period. Teacher Retirement System of Texas purchased a new position in shares of Agios Pharmaceuticals during the 3rd quarter worth $225,000. S&CO Inc. purchased a new position in shares of Agios Pharmaceuticals during the 3rd quarter worth $227,000. Finally, Macquarie Group Ltd. purchased a new position in shares of Agios Pharmaceuticals during the 3rd quarter worth $245,000. 94.32% of the stock is currently owned by hedge funds and other institutional investors.

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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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