Agios Pharmaceuticals Inc. (AGIO) Stock Price Down 3.9% on Insider Selling
Agios Pharmaceuticals Inc. (NASDAQ:AGIO)’s share price fell 3.9% during mid-day trading on Friday following insider selling activity. The company traded as low as $51.26 and last traded at $51.72, with a volume of 352,648 shares. The stock had previously closed at $53.80.
Specifically, insider Scott Biller sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $50.00, for a total transaction of $250,000.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lewis Clayton Jr. Cantley sold 627 shares of the stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $41.85, for a total value of $26,239.95. Following the transaction, the director now directly owns 112,167 shares of the company’s stock, 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.
Several brokerages recently commented on AGIO. Zacks Investment Research cut Agios Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday. Vetr upgraded Agios Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $68.42 price objective on the stock in a research note on Monday, June 13th. Janney Montgomery Scott restated a “neutral” rating and issued a $47.00 price objective (down previously from $52.00) on shares of Agios Pharmaceuticals in a research note on Monday, June 13th. JPMorgan Chase & Co. upgraded Agios Pharmaceuticals from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $50.00 to $62.00 in a research note on Monday, June 13th. Finally, Canaccord Genuity upgraded Agios Pharmaceuticals from a “hold” rating to a “buy” rating and upped their price objective for the company from $50.00 to $90.00 in a research note on Monday, June 13th. One analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $63.44.
The stock’s market cap is $2.00 billion. The firm has a 50-day moving average price of $46.07 and a 200 day moving average price of $46.30.
Agios Pharmaceuticals (NASDAQ:AGIO) last released its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by $0.99. The company had revenue of $6.98 million for the quarter, compared to analyst estimates of $39.62 million. Agios Pharmaceuticals had a negative net margin of 320.33% and a negative return on equity of 47.69%. Agios Pharmaceuticals’s revenue for the quarter was down 47.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.85) EPS. Equities research analysts expect that Agios Pharmaceuticals Inc. will post ($5.04) EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in AGIO. Wellington Management Group LLP increased its position in Agios Pharmaceuticals by 0.6% in the first quarter. Wellington Management Group LLP now owns 5,299,078 shares of the biopharmaceutical company’s stock worth $215,141,000 after buying an additional 31,611 shares during the period. BB Biotech AG increased its position in Agios Pharmaceuticals by 9.4% in the second quarter. BB Biotech AG now owns 2,363,321 shares of the biopharmaceutical company’s stock worth $99,011,000 after buying an additional 203,400 shares during the period. Vanguard Group Inc. increased its position in Agios Pharmaceuticals by 10.1% in the second quarter. Vanguard Group Inc. now owns 2,105,591 shares of the biopharmaceutical company’s stock worth $88,214,000 after buying an additional 192,852 shares during the period. Flagship Ventures Fund 2007 L.P. bought a new position in Agios Pharmaceuticals during the first quarter worth about $78,373,000. Finally, Capital International Investors increased its position in Agios Pharmaceuticals by 11.4% in the second quarter. Capital International Investors now owns 1,501,037 shares of the biopharmaceutical company’s stock worth $62,886,000 after buying an additional 153,464 shares during the period. Institutional investors and hedge funds own 81.59% of the company’s stock.
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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