Agios Pharmaceuticals (NASDAQ:AGIO) Stock Rating Lowered by Royal Bank Of Canada

Agios Pharmaceuticals (NASDAQ:AGIO) was downgraded by equities research analysts at Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Wednesday. They presently have a $28.00 price target on the biopharmaceutical company’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 20.33% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Agios Pharmaceuticals in a research note on Thursday, November 13th. Bank of America lowered their price target on Agios Pharmaceuticals from $52.00 to $51.00 and set a “buy” rating on the stock in a report on Tuesday, July 22nd. HC Wainwright reiterated a “buy” rating and set a $56.00 price objective on shares of Agios Pharmaceuticals in a research report on Thursday, September 4th. Zacks Research upgraded shares of Agios Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Finally, Scotiabank decreased their price objective on shares of Agios Pharmaceuticals from $71.00 to $65.00 and set a “sector outperform” rating for the company in a report on Monday, July 28th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $50.00.

Agios Pharmaceuticals Price Performance

Shares of NASDAQ:AGIO traded down $22.22 during mid-day trading on Wednesday, reaching $23.27. 13,250,792 shares of the company were exchanged, compared to its average volume of 749,224. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -3.34 and a beta of 0.89. The firm’s 50-day simple moving average is $40.64 and its 200 day simple moving average is $37.01. Agios Pharmaceuticals has a 1 year low of $22.35 and a 1 year high of $62.45.

Agios Pharmaceuticals (NASDAQ:AGIO) last issued its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported ($1.78) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.93) by $0.15. Agios Pharmaceuticals had a negative net margin of 895.86% and a negative return on equity of 28.35%. The company had revenue of $12.90 million during the quarter, compared to the consensus estimate of $10.49 million. During the same quarter in the previous year, the firm earned $16.22 earnings per share. The firm’s quarterly revenue was up 43.3% on a year-over-year basis. On average, research analysts forecast that Agios Pharmaceuticals will post -6.85 earnings per share for the current fiscal year.

Insider Activity

In other Agios Pharmaceuticals news, CFO Cecilia Jones sold 3,651 shares of Agios Pharmaceuticals stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $36.77, for a total transaction of $134,247.27. Following the completion of the transaction, the chief financial officer owned 33,870 shares in the company, valued at approximately $1,245,399.90. The trade was a 9.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sarah Gheuens sold 3,302 shares of the stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $43.92, for a total transaction of $145,023.84. Following the transaction, the insider owned 61,727 shares of the company’s stock, valued at $2,711,049.84. This represents a 5.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 16,099 shares of company stock valued at $620,092 in the last ninety days. 4.93% of the stock is owned by company insiders.

Institutional Trading of Agios Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP boosted its position in Agios Pharmaceuticals by 485.5% during the third quarter. Wellington Management Group LLP now owns 2,471,416 shares of the biopharmaceutical company’s stock valued at $99,203,000 after purchasing an additional 2,049,287 shares in the last quarter. TCG Crossover Management LLC grew its position in Agios Pharmaceuticals by 105.2% during the third quarter. TCG Crossover Management LLC now owns 1,430,041 shares of the biopharmaceutical company’s stock valued at $57,402,000 after buying an additional 733,038 shares during the period. SCS Capital Management LLC acquired a new position in Agios Pharmaceuticals in the 1st quarter worth about $17,905,000. Balyasny Asset Management L.P. acquired a new stake in Agios Pharmaceuticals in the 3rd quarter valued at $19,889,000. Finally, Adage Capital Partners GP L.L.C. raised its position in shares of Agios Pharmaceuticals by 145.2% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 743,000 shares of the biopharmaceutical company’s stock worth $21,770,000 after purchasing an additional 440,000 shares during the last quarter.

Agios Pharmaceuticals Company Profile

Agios Pharmaceuticals, Inc, a biopharmaceutical company, discovers and develops medicines in the field of cellular metabolism in the United States. Its lead product includes PYRUKYND (mitapivat), an activator of wild-type and mutant pyruvate kinase (PK), enzymes for the treatment of hemolytic anemias.