Zacks Investment Research upgraded shares of Agios Pharmaceuticals (NASDAQ:AGIO) from a hold rating to a buy rating in a report published on Tuesday, January 9th. They currently have $68.00 price target on the biopharmaceutical company’s stock.
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 research analysts have also commented on AGIO. JPMorgan Chase & Co. restated a buy rating and set a $76.00 price target on shares of Agios Pharmaceuticals in a research note on Monday, September 18th. Oppenheimer set a $83.00 target price on Agios Pharmaceuticals and gave the company a buy rating in a research note on Tuesday, December 26th. Royal Bank of Canada assumed coverage on Agios Pharmaceuticals in a report on Thursday, September 14th. They issued an outperform rating and a $78.00 price target for the company. ValuEngine raised Agios Pharmaceuticals from a sell rating to a hold rating in a report on Sunday, December 31st. Finally, BidaskClub raised Agios Pharmaceuticals from a strong sell rating to a sell rating in a report on Wednesday, December 27th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $76.45.
Agios Pharmaceuticals (NASDAQ:AGIO) last issued its quarterly earnings data 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. Agios Pharmaceuticals had a negative return on equity of 69.64% and a negative net margin of 506.39%. The business had revenue of $11.35 million for the quarter, compared to the consensus estimate of $10.85 million. During the same period in the prior year, the business earned ($1.63) earnings per share. The business’s revenue was up 26.4% on a year-over-year basis. research analysts anticipate that Agios Pharmaceuticals will post -6.59 earnings per share for the current fiscal year.
In related news, insider Scott Biller sold 2,146 shares of Agios Pharmaceuticals stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $62.69, for a total value of $134,532.74. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David P. Schenkein sold 6,000 shares of Agios Pharmaceuticals stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $63.85, for a total value of $383,100.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,130 shares of company stock worth $5,561,250. 5.43% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in Agios Pharmaceuticals by 14.1% during the second quarter. FMR LLC now owns 7,227,331 shares of the biopharmaceutical company’s stock valued at $371,846,000 after purchasing an additional 895,584 shares during the last quarter. Vanguard Group Inc. boosted its position in Agios Pharmaceuticals by 23.8% during the second quarter. Vanguard Group Inc. now owns 3,214,770 shares of the biopharmaceutical company’s stock valued at $165,401,000 after purchasing an additional 617,379 shares during the last quarter. Capital International Investors boosted its position in Agios Pharmaceuticals by 0.3% during the third quarter. Capital International Investors now owns 3,138,131 shares of the biopharmaceutical company’s stock valued at $209,470,000 after purchasing an additional 8,294 shares during the last quarter. BB Biotech AG boosted its position in Agios Pharmaceuticals by 1.1% during the second quarter. BB Biotech AG now owns 2,869,528 shares of the biopharmaceutical company’s stock valued at $147,637,000 after purchasing an additional 30,000 shares during the last quarter. Finally, BlackRock Inc. boosted its position in Agios Pharmaceuticals by 23.5% during the second quarter. BlackRock Inc. now owns 2,675,380 shares of the biopharmaceutical company’s stock valued at $137,648,000 after purchasing an additional 508,306 shares during the last quarter. 94.32% of the stock is owned by hedge funds and other institutional investors.
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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