Agios Pharmaceuticals Inc. (AGIO) Stock Price Down 4.5% Following Insider Selling
Agios Pharmaceuticals Inc. (NASDAQ:AGIO)’s share price dropped 4.5% during mid-day trading on Thursday following insider selling activity. The company traded as low as $51.75 and last traded at $51.75, with a volume of 596,992 shares traded. The stock had previously closed at $54.21.
Specifically, Director Lewis Clayton Jr. Cantley sold 627 shares of Agios Pharmaceuticals stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $54.00, for a total transaction of $33,858.00. Following the completion of the transaction, the director now owns 109,659 shares in the company, valued at $5,921,586. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott Biller sold 5,000 shares of Agios Pharmaceuticals stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $50.00, for a total value of $250,000.00. Following the transaction, the insider now owns 48,270 shares of the company’s stock, valued at approximately $2,413,500. The disclosure for this sale can be found here. Corporate insiders own 10.55% of the company’s stock.
AGIO has been the subject of a number of research analyst reports. BTIG Research initiated coverage on Agios Pharmaceuticals in a report on Friday, August 19th. They set a “neutral” rating for the company. JPMorgan Chase & Co. upgraded Agios Pharmaceuticals from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $50.00 to $62.00 in a report on Monday, June 13th. Vetr cut Agios Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $68.42 price target for the company. in a report on Tuesday, June 7th. Credit Suisse Group AG reiterated a “buy” rating on shares of Agios Pharmaceuticals in a report on Tuesday, July 12th. Finally, Canaccord Genuity restated a “buy” rating and set a $90.00 price objective on shares of Agios Pharmaceuticals in a report on Thursday, September 8th. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Agios Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $63.44.
The firm’s market capitalization is $1.97 billion. The firm’s 50 day moving average price is $43.88 and its 200-day moving average price is $45.61.
Agios Pharmaceuticals (NASDAQ:AGIO) last released its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($1.47) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by $0.99. The business earned $6.98 million during the quarter, compared to the consensus estimate of $39.62 million. Agios Pharmaceuticals had a negative return on equity of 47.69% and a negative net margin of 320.33%. The firm’s quarterly revenue was down 47.2% on a year-over-year basis. During the same period last year, the business posted ($0.85) earnings per share. Analysts predict that Agios Pharmaceuticals Inc. will post ($5.04) EPS for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Flagship Ventures Fund 2007 L.P. purchased a new position in shares of Agios Pharmaceuticals during the first quarter valued at approximately $78,373,000. Capital Guardian Trust Co. increased its position in shares of Agios Pharmaceuticals by 57.6% in the second quarter. Capital Guardian Trust Co. now owns 668,100 shares of the biopharmaceutical company’s stock valued at $27,990,000 after buying an additional 244,178 shares during the last quarter. BlackRock Advisors LLC increased its position in shares of Agios Pharmaceuticals by 1,942.6% in the second quarter. BlackRock Advisors LLC now owns 253,023 shares of the biopharmaceutical company’s stock valued at $10,600,000 after buying an additional 240,636 shares during the last quarter. Fiera Capital Corp purchased a new position in shares of Agios Pharmaceuticals during the second quarter valued at approximately $9,707,000. Finally, BB Biotech AG increased its position in shares of Agios Pharmaceuticals by 9.4% in the second quarter. BB Biotech AG now owns 2,363,321 shares of the biopharmaceutical company’s stock valued at $99,011,000 after buying an additional 203,400 shares during the last quarter. 81.59% of the stock is owned by hedge funds and other institutional investors.
About Agios Pharmaceuticals
Agios Pharmaceuticals, Inc is a biopharmaceutical company. The Company is engaged in the discovery and development of orally available small molecule medicines for the treatment of cancer and rare genetic disorders (RGDs), which are a subset of orphan genetic metabolic diseases. Its cancer product candidates are AG-221 and AG-120, which targets mutated isocitrate dehydrogenase 2 and 1, or IDH2 and IDH1, respectively, and AG-881, which targets both mutated IDH1 and mutated IDH2.
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