Royal Bank of Canada Raises Agios Pharmaceuticals (AGIO) Price Target to $90.00

Agios Pharmaceuticals (NASDAQ:AGIO) had its price target lifted by equities researchers at Royal Bank of Canada to $90.00 in a research note issued on Thursday, The Fly reports. Royal Bank of Canada’s target price points to a potential upside of 76.51% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the stock. Cowen reaffirmed a “buy” rating on shares of Agios Pharmaceuticals in a report on Thursday. BidaskClub cut shares of Agios Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Thursday, May 9th. Piper Jaffray Companies dropped their target price on shares of Agios Pharmaceuticals from $100.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Zacks Investment Research cut shares of Agios Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, April 25th. Finally, ValuEngine cut shares of Agios Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $95.00.

NASDAQ AGIO traded up $3.64 during trading hours on Thursday, hitting $50.99. 15,884 shares of the stock were exchanged, compared to its average volume of 493,351. The stock has a market capitalization of $2.78 billion, a P/E ratio of -8.45 and a beta of 2.25. Agios Pharmaceuticals has a 12-month low of $41.63 and a 12-month high of $99.82. The company has a quick ratio of 6.86, a current ratio of 6.89 and a debt-to-equity ratio of 0.11.

Agios Pharmaceuticals (NASDAQ:AGIO) last issued its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($1.59) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.74) by $0.15. Agios Pharmaceuticals had a negative net margin of 300.63% and a negative return on equity of 48.19%. The company had revenue of $30.20 million during the quarter, compared to analysts’ expectations of $22.69 million. During the same period last year, the company posted ($1.63) earnings per share. The firm’s quarterly revenue was up 243.2% compared to the same quarter last year. On average, equities research analysts expect that Agios Pharmaceuticals will post -6.76 earnings per share for the current fiscal year.

In related news, insider Steven L. Hoerter sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $67.01, for a total transaction of $670,100.00. Following the sale, the insider now owns 26,939 shares in the company, valued at $1,805,182.39. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Scott Biller sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $65.00, for a total transaction of $585,000.00. Following the sale, the insider now owns 28,277 shares in the company, valued at approximately $1,838,005. The disclosure for this sale can be found here. Insiders sold 42,000 shares of company stock worth $2,765,530 over the last quarter. Company insiders own 3.16% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its position in Agios Pharmaceuticals by 0.3% during the fourth quarter. FMR LLC now owns 8,726,801 shares of the biopharmaceutical company’s stock worth $402,393,000 after acquiring an additional 27,915 shares during the last quarter. Wealthstreet Investment Advisors LLC boosted its position in Agios Pharmaceuticals by 15.9% during the fourth quarter. Wealthstreet Investment Advisors LLC now owns 29,165 shares of the biopharmaceutical company’s stock worth $1,473,000 after acquiring an additional 4,000 shares during the last quarter. Millennium Management LLC boosted its position in Agios Pharmaceuticals by 289.7% during the fourth quarter. Millennium Management LLC now owns 215,902 shares of the biopharmaceutical company’s stock worth $9,955,000 after acquiring an additional 160,493 shares during the last quarter. Geode Capital Management LLC boosted its position in Agios Pharmaceuticals by 14.6% during the fourth quarter. Geode Capital Management LLC now owns 546,568 shares of the biopharmaceutical company’s stock worth $25,202,000 after acquiring an additional 69,603 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its stake in Agios Pharmaceuticals by 12.4% during the fourth quarter. Handelsbanken Fonder AB now owns 195,000 shares of the biopharmaceutical company’s stock worth $8,991,000 after purchasing an additional 21,500 shares during the period. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Agios Pharmaceuticals Company Profile

Agios Pharmaceuticals, Inc, a biopharmaceutical company, engages in the discovery and development of medicines in the field of cellular metabolism and adjacent areas of biology for the treatment of cancer and rare genetic diseases. The company offers TIBSOVO (ivosidenib), an oral targeted inhibitor for treating adult patients with relapsed or refractory acute myeloid leukemia (R/R AML), as well as to treat patients with newly diagnosed AML; and IDHIFA, an oral targeted inhibitor for patients with R/R AML and an isocitrate dehydrogenase 2 mutation.

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