Agios Pharmaceuticals (NASDAQ:AGIO) had its price target boosted by equities researchers at Credit Suisse Group from $66.00 to $80.00 in a research report issued to clients and investors on Thursday, MarketBeat reports. The brokerage currently has an “outperform” rating on the biopharmaceutical company’s stock. Credit Suisse Group’s target price points to a potential upside of 2.96% from the stock’s previous close. The analysts noted that the move was a valuation call.
Other equities research analysts also recently issued reports about the company. UBS Group downgraded Agios Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Wednesday. Needham & Company LLC restated a “buy” rating and set a $86.00 price objective (up from $72.00) on shares of Agios Pharmaceuticals in a report on Thursday. Oppenheimer set a $83.00 price objective on Agios Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, December 26th. Zacks Investment Research upgraded Agios Pharmaceuticals from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a report on Tuesday, January 9th. Finally, BidaskClub upgraded Agios Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, January 16th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $82.91.
Agios Pharmaceuticals (NASDAQ AGIO) traded down $1.09 during mid-day trading on Thursday, reaching $77.70. The company’s stock had a trading volume of 295,360 shares, compared to its average volume of 869,917. Agios Pharmaceuticals has a 52 week low of $45.11 and a 52 week high of $82.96. The stock has a market cap of $3,790.00, a P/E ratio of -11.53 and a beta of 2.12.
In other news, insider Carman Alenson sold 2,150 shares of the business’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $75.00, for a total value of $161,250.00. Following the completion of the sale, the insider now directly owns 2,150 shares in the company, valued at approximately $161,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Corp /De/ Celgene purchased 851,154 shares of the stock in a transaction dated Tuesday, January 23rd. The stock was purchased at an average price of $67.00 per share, with a total value of $57,027,318.00. Following the completion of the acquisition, the insider now directly owns 1,374,599 shares in the company, valued at approximately $92,098,133. The disclosure for this purchase can be found here. Insiders sold a total of 183,114 shares of company stock valued at $13,866,025 over the last quarter. Company insiders own 5.43% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Agios Pharmaceuticals by 41.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,600 shares of the biopharmaceutical company’s stock valued at $149,000 after acquiring an additional 762 shares during the last quarter. QS Investors LLC bought a new stake in shares of Agios Pharmaceuticals in the 2nd quarter valued at approximately $144,000. State of Alaska Department of Revenue bought a new stake in shares of Agios Pharmaceuticals in the 4th quarter valued at approximately $160,000. Teacher Retirement System of Texas acquired a new position in Agios Pharmaceuticals during the 3rd quarter valued at approximately $225,000. Finally, S&CO Inc. acquired a new position in Agios Pharmaceuticals during the 3rd quarter valued at approximately $227,000. Institutional investors and hedge funds own 82.74% 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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