Agios Pharmaceuticals Inc. (AGIO) Downgraded by Zacks Investment Research to “Sell”
According to Zacks, “Agios is a development-stage biopharmaceutical company focused on the development of treatments for cancer and rare genetic metabolic disorders. Being a development-stage company, Agios depends heavily on Celgene for revenues, which it earns in the form of collaboration revenues. The company also depends on Celgene for two of its pipeline candidates – enasidenib and AG-881. Moreover, most of the company's pipeline candidates are in mid- and early-stages of development and thus, quite a few years away from entering the market, if at all. Stiff competition remains a threat as well. Several companies are looking to bring treatments for cancer and rare genetic metabolic disorders by targeting cellular metabolism. However, the company’s metabolic immuno-oncology focused collaboration with Celgene is encouraging. The deal will see Agios receiving funds in the form of upfront, regulatory and commercial milestone payments plus royalties.”
A number of other research firms have also weighed in on AGIO. Vetr lowered Agios Pharmaceuticals from a strong-buy rating to a buy rating and set a $68.42 target price for the company. in a report on Tuesday, June 7th. JPMorgan Chase & Co. raised Agios Pharmaceuticals from a neutral rating to an overweight rating and boosted their price objective for the stock from $50.00 to $62.00 in a report on Friday, June 10th. Janney Montgomery Scott reissued a neutral rating and set a $47.00 price objective (down previously from $52.00) on shares of Agios Pharmaceuticals in a report on Monday, June 13th. Canaccord Genuity reissued a hold rating and set a $50.00 price objective on shares of Agios Pharmaceuticals in a report on Thursday, June 9th. Finally, Goldman Sachs Group Inc. reissued a hold rating and set a $46.00 price objective on shares of Agios Pharmaceuticals in a report on Monday, June 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Agios Pharmaceuticals has a consensus rating of Hold and an average price target of $63.44.
Agios Pharmaceuticals (NASDAQ:AGIO) traded down 0.81% during mid-day trading on Wednesday, reaching $53.96. 181,994 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $45.33 and a 200-day moving average of $46.12. Agios Pharmaceuticals has a one year low of $33.50 and a one year high of $81.77. The stock’s market cap is $2.05 billion.
Agios Pharmaceuticals (NASDAQ:AGIO) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.47) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.48) by $0.99. The company had revenue of $6.98 million for the quarter, compared to analysts’ expectations of $39.62 million. Agios Pharmaceuticals had a negative net margin of 320.33% and a negative return on equity of 47.69%. The firm’s quarterly revenue was down 47.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.85) EPS. On average, equities research analysts anticipate that Agios Pharmaceuticals will post ($5.04) earnings per share for the current year.
In related news, insider Scott Biller sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $50.00, for a total value of $250,000.00. Following the sale, the insider now directly owns 48,270 shares of the company’s stock, valued at $2,413,500. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Lewis Clayton Jr. Cantley sold 627 shares of the company’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $41.85, for a total value of $26,239.95. Following the completion of the sale, the director now directly owns 112,167 shares in the company, valued at $4,694,188.95. The disclosure for this sale can be found here. Corporate insiders own 10.55% of the company’s stock.
A number of large investors have recently modified their holdings of AGIO. BlackRock Inc. boosted its stake in shares of Agios Pharmaceuticals by 373.3% in the first quarter. BlackRock Inc. now owns 3,602 shares of the biopharmaceutical company’s stock valued at $145,000 after buying an additional 2,841 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Agios Pharmaceuticals by 40.8% in the second quarter. Teacher Retirement System of Texas now owns 3,921 shares of the biopharmaceutical company’s stock valued at $164,000 after buying an additional 1,136 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Agios Pharmaceuticals by 65.0% in the first quarter. Royal Bank of Canada now owns 4,465 shares of the biopharmaceutical company’s stock valued at $181,000 after buying an additional 1,759 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in shares of Agios Pharmaceuticals during the second quarter valued at $209,000. Finally, Utah Retirement Systems purchased a new stake in shares of Agios Pharmaceuticals during the second quarter valued at $214,000. 81.59% of the stock is currently owned by institutional investors.
Agios Pharmaceuticals Company Profile
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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