Agios Pharmaceuticals (AGIO) Lifted to Hold at Zacks Investment Research

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Agios Pharmaceuticals (NASDAQ:AGIO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “Agios depends heavily on Celgene for revenues, which it earns in the form of collaboration revenues and royalty revenues on Idhifa sales. Stiff competition from large pharmaceutical companies including AstraZeneca, Bayer, Eli Lilly, Roche, GlaxoSmithKline, Merck, Pfizer and Sanofi is another matter of concern for the company. Shares of the company have underperformed the industry in 2018. Nevertheless, Agios' first wholly owned precision medicine, Tibsovo, was approved by the FDA for treating AML. The drug has generated strong sales in the very first quarter following its FDA nod. The company is also focused on expanding the label for Tibsovo to advance its cancer and rare genetic disease clinical development programs.Loss estimates have widened slighty ahead of the Q4 earnings release. Agios has a mixed record of earnings surprises in recent quarters. “

A number of other analysts have also recently issued reports on AGIO. Oppenheimer restated a “hold” rating on shares of Agios Pharmaceuticals in a research note on Thursday, November 1st. ValuEngine upgraded shares of Agios Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 1st. Cowen reaffirmed a “buy” rating on shares of Agios Pharmaceuticals in a research report on Friday, November 2nd. BidaskClub raised shares of Agios Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, November 7th. Finally, reaffirmed a “hold” rating on shares of Agios Pharmaceuticals in a research report on Friday, November 16th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Agios Pharmaceuticals has an average rating of “Buy” and a consensus target price of $100.13.

NASDAQ AGIO opened at $54.03 on Tuesday. The stock has a market cap of $3.22 billion, a PE ratio of -8.00 and a beta of 2.38. Agios Pharmaceuticals has a 52-week low of $41.63 and a 52-week high of $99.82.

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Agios Pharmaceuticals by 1.2% during the third quarter. BlackRock Inc. now owns 3,285,842 shares of the biopharmaceutical company’s stock worth $253,404,000 after acquiring an additional 37,591 shares during the period. Wealthstreet Investment Advisors LLC increased 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 period. Dimensional Fund Advisors LP increased its position in Agios Pharmaceuticals by 31.4% during the second quarter. Dimensional Fund Advisors LP now owns 100,695 shares of the biopharmaceutical company’s stock worth $8,480,000 after acquiring an additional 24,051 shares during the period. Handelsbanken Fonder AB increased its position in Agios Pharmaceuticals by 6.8% during the third quarter. Handelsbanken Fonder AB now owns 173,500 shares of the biopharmaceutical company’s stock worth $13,380,000 after acquiring an additional 11,000 shares during the period. Finally, Alps Advisors Inc. increased its position in Agios Pharmaceuticals by 23.2% during the third quarter. Alps Advisors Inc. now owns 102,624 shares of the biopharmaceutical company’s stock worth $7,914,000 after acquiring an additional 19,327 shares during the period. 95.40% of the stock is currently owned by institutional investors and hedge funds.

About Agios Pharmaceuticals

Agios Pharmaceuticals, Inc, a biopharmaceutical company, engages in the discovery and development of medicines for the treatment of cancer and rare genetic metabolic disorders in the United States. It is developing IDHIFA, a potent inhibitor of the mutated isocitrate dehydrogenase (IDH) 2 protein that is in Phase I/II clinical trials for patients with advanced hematologic malignancies with an IDH 2 mutation; Phase III clinical trial for patients with IDH2 mutant-positive acute myeloid leukemia (AML); Phase Ib frontline combination trial for patients with newly diagnosed AML with an IDH2 or IDH1 mutation; and Phase I/II frontline combination trial for patients with newly diagnosed AML.

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