Agios Pharmaceuticals (AGIO) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Agios Pharmaceuticals (NASDAQ:AGIO) from a hold rating to a buy rating in a research report released on Tuesday. Zacks Investment Research currently has $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.”
Other analysts have also issued research reports about the company. JPMorgan Chase & Co. reissued a buy rating and issued a $76.00 target price on shares of Agios Pharmaceuticals in a report on Monday, September 18th. Oppenheimer set a $83.00 target price on Agios Pharmaceuticals and gave the stock a buy rating in a report 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 target price 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company’s stock. Agios Pharmaceuticals presently has a consensus rating of Buy and a consensus price target of $75.00.
Agios Pharmaceuticals (AGIO) traded up $3.82 during trading on Tuesday, hitting $67.34. The company’s stock had a trading volume of 642,058 shares, compared to its average volume of 498,214. The company has a market cap of $3,270.00, a price-to-earnings ratio of -10.74 and a beta of 1.83. Agios Pharmaceuticals has a twelve month low of $39.24 and a twelve month high of $72.73.
Agios Pharmaceuticals (NASDAQ:AGIO) last posted its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($1.59) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.78) by $0.19. The business had revenue of $11.35 million during the quarter, compared to analyst estimates of $10.85 million. Agios Pharmaceuticals had a negative return on equity of 69.64% and a negative net margin of 506.39%. The company’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter last year, the company earned ($1.63) EPS. research analysts predict that Agios Pharmaceuticals will post -6.59 earnings per share for the current year.
In other Agios Pharmaceuticals news, Director Lewis Clayton Jr. Cantley sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $71.10, for a total transaction of $284,400.00. Following the sale, the director now directly owns 84,394 shares of the company’s stock, valued at $6,000,413.40. The transaction 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 the firm’s stock in a transaction dated Wednesday, November 1st. The shares were 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. Insiders have sold 29,130 shares of company stock worth $1,844,260 over the last quarter. 5.43% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the business. Hood River Capital Management LLC raised its holdings in Agios Pharmaceuticals by 2.3% during the second quarter. Hood River Capital Management LLC now owns 118,844 shares of the biopharmaceutical company’s stock valued at $6,115,000 after acquiring an additional 2,626 shares during the period. Goldman Sachs Group Inc. raised its holdings in Agios Pharmaceuticals by 4.9% during the second quarter. Goldman Sachs Group Inc. now owns 681,093 shares of the biopharmaceutical company’s stock valued at $35,042,000 after acquiring an additional 31,969 shares during the period. Virtu KCG Holdings LLC bought a new stake in Agios Pharmaceuticals during the second quarter valued at about $743,000. Royal Bank of Canada raised its holdings in Agios Pharmaceuticals by 40.8% during the second quarter. Royal Bank of Canada now owns 9,131 shares of the biopharmaceutical company’s stock valued at $470,000 after acquiring an additional 2,648 shares during the period. Finally, Utah Retirement Systems raised its holdings in Agios Pharmaceuticals by 35.7% during the second quarter. Utah Retirement Systems now owns 7,600 shares of the biopharmaceutical company’s stock valued at $391,000 after acquiring an additional 2,000 shares during the period. 93.79% of the stock is currently owned by institutional investors and hedge funds.
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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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