Agios Pharmaceuticals (AGIO) Given New $80.00 Price Target at Credit Suisse Group

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.

Agios Pharmaceuticals (NASDAQ:AGIO) last posted its quarterly earnings data on Wednesday, February 14th. The biopharmaceutical company reported ($1.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.65) by ($0.16). Agios Pharmaceuticals had a negative return on equity of 74.56% and a negative net margin of 731.60%. The business had revenue of $9.80 million for the quarter, compared to analysts’ expectations of $12.65 million. During the same quarter in the prior year, the firm earned ($1.34) earnings per share. Agios Pharmaceuticals’s revenue for the quarter was down 56.7% compared to the same quarter last year. research analysts anticipate that Agios Pharmaceuticals will post -6.68 EPS for the current fiscal year.

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.

ILLEGAL ACTIVITY NOTICE: “Agios Pharmaceuticals (AGIO) Given New $80.00 Price Target at Credit Suisse Group” was first published by American Banking News and is owned by of American Banking News. If you are accessing this piece of content on another domain, it was stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/02/15/credit-suisse-group-reiterates-outperform-rating-for-agios-pharmaceuticals-agio.html.

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.

Analyst Recommendations for Agios Pharmaceuticals (NASDAQ:AGIO)

Receive News & Ratings for Agios Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Agios Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply