Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) had its price objective raised by equities researchers at Credit Suisse Group from $61.00 to $66.00 in a report released on Thursday, November 2nd. The brokerage currently has an “outperform” rating on the biopharmaceutical company’s stock. Credit Suisse Group’s price objective points to a potential upside of 9.67% from the company’s previous close.
Several other research firms have also recently weighed in on AGIO. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $80.00 price target on shares of Agios Pharmaceuticals in a report on Wednesday, October 4th. J P Morgan Chase & Co reiterated a “buy” rating and issued a $76.00 price target on shares of Agios Pharmaceuticals in a report on Monday, September 18th. Royal Bank Of Canada initiated coverage on shares of Agios Pharmaceuticals in a report on Thursday, September 14th. They issued an “outperform” rating and a $78.00 price target on the stock. Canaccord Genuity set a $90.00 target price on shares of Agios Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, August 2nd. Finally, ValuEngine upgraded shares of Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $75.70.
Shares of Agios Pharmaceuticals (NASDAQ AGIO) traded up $1.59 during midday trading on Thursday, hitting $60.18. 278,941 shares of the company traded hands, compared to its average volume of 524,264. Agios Pharmaceuticals has a 12 month low of $39.24 and a 12 month high of $72.73.
Agios Pharmaceuticals (NASDAQ:AGIO) last issued its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($1.59) EPS for the quarter, topping the consensus estimate of ($1.78) by $0.19. Agios Pharmaceuticals had a negative net margin of 679.14% and a negative return on equity of 64.54%. The company had revenue of $11.35 million for the quarter, compared to the consensus estimate of $10.85 million. During the same period in the previous year, the firm earned ($1.63) earnings per share. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. analysts anticipate that Agios Pharmaceuticals will post -6.59 EPS for the current year.
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In other news, Director Lewis Clayton Jr. Cantley sold 4,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $56.85, for a total transaction of $227,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott Biller sold 2,146 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $61.99, for a total transaction of $133,030.54. Following the sale, the insider now directly owns 8,410 shares of the company’s stock, valued at approximately $521,335.90. The disclosure for this sale can be found here. In the last three months, insiders sold 182,908 shares of company stock valued at $12,391,239. 10.55% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Belpointe Asset Management LLC purchased a new stake in Agios Pharmaceuticals in the 3rd quarter worth approximately $1,250,000. Alkeon Capital Management LLC purchased a new stake in Agios Pharmaceuticals in the 3rd quarter worth approximately $30,489,000. California Public Employees Retirement System increased its holdings in Agios Pharmaceuticals by 3.4% in the 3rd quarter. California Public Employees Retirement System now owns 36,100 shares of the biopharmaceutical company’s stock worth $2,410,000 after acquiring an additional 1,200 shares in the last quarter. Crestline Management LP purchased a new stake in Agios Pharmaceuticals in the 3rd quarter worth approximately $1,937,000. Finally, 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 acquiring an additional 8,294 shares in the last quarter. 92.64% of the stock is owned by 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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