Agios Pharmaceuticals (AGIO) Trading Down 8.4% After Insider Selling

Agios Pharmaceuticals Inc (NASDAQ:AGIO)’s share price fell 8.4% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $68.76 and last traded at $68.80. 1,175,807 shares were traded during trading, an increase of 66% from the average session volume of 710,071 shares. The stock had previously closed at $75.11.

Specifically, CEO David P. Schenkein sold 6,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $63.85, for a total transaction of $383,100.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Scott Biller sold 2,146 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $62.69, for a total transaction of $134,532.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,130 shares of company stock worth $5,561,250. Corporate insiders own 5.43% of the company’s stock.

Several research firms have recently issued reports on AGIO. Zacks Investment Research downgraded shares of Agios Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday. SunTrust Banks restated a “buy” rating and set a $80.00 price objective on shares of Agios Pharmaceuticals in a report on Wednesday, October 4th. BidaskClub upgraded shares of Agios Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday. Credit Suisse Group upped their price objective on shares of Agios Pharmaceuticals from $61.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, November 2nd. Finally, Cann restated a “buy” rating on shares of Agios Pharmaceuticals in a report on Tuesday, December 5th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Agios Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $76.45.

The stock has a market cap of $3,350.00, a price-to-earnings ratio of -10.97 and a beta of 1.83.

Agios Pharmaceuticals (NASDAQ:AGIO) last issued its quarterly earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($1.59) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.78) by $0.19. Agios Pharmaceuticals had a negative net margin of 506.39% and a negative return on equity of 69.64%. The company had revenue of $11.35 million for the quarter, compared to the consensus estimate of $10.85 million. During the same quarter in the prior year, the company earned ($1.63) EPS. Agios Pharmaceuticals’s quarterly revenue was up 26.4% on a year-over-year basis. sell-side analysts anticipate that Agios Pharmaceuticals Inc will post -6.59 earnings per share for the current year.

A number of large investors have recently modified their holdings of the stock. FMR LLC increased its holdings in Agios Pharmaceuticals by 14.1% in the 2nd quarter. FMR LLC now owns 7,227,331 shares of the biopharmaceutical company’s stock worth $371,846,000 after buying an additional 895,584 shares during the period. Vanguard Group Inc. increased its holdings in Agios Pharmaceuticals by 23.8% in the 2nd quarter. Vanguard Group Inc. now owns 3,214,770 shares of the biopharmaceutical company’s stock worth $165,401,000 after buying an additional 617,379 shares during the period. Capital International Investors increased its holdings in Agios Pharmaceuticals by 0.3% in the 3rd quarter. Capital International Investors now owns 3,138,131 shares of the biopharmaceutical company’s stock worth $209,470,000 after buying an additional 8,294 shares during the period. BB Biotech AG increased its holdings in Agios Pharmaceuticals by 1.1% in the 2nd quarter. BB Biotech AG now owns 2,869,528 shares of the biopharmaceutical company’s stock worth $147,637,000 after buying an additional 30,000 shares during the period. Finally, BlackRock Inc. boosted its position in Agios Pharmaceuticals by 23.5% in the 2nd quarter. BlackRock Inc. now owns 2,675,380 shares of the biopharmaceutical company’s stock worth $137,648,000 after purchasing an additional 508,306 shares in the last quarter. Institutional investors own 94.32% of the company’s stock.

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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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