Agios Pharmaceuticals Inc. (AGIO) Raised to Hold at Zacks Investment Research
Agios Pharmaceuticals Inc. (NASDAQ:AGIO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Agios’ 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. We are also positive on Agios gaining rights to AG120 from Celgene. Moreover, Agios’ collaboration with Celgene for two of its candidates – enasidenib and AG-881 – is noteworthy. Celgene is expected to seek FDA approval for enasidenib for the treatment of relapsed and/or refractory acute myeloid leukemia (AML) by 2016 end. Agios’ progress with rest of the pipeline is also impressive. Any hiccup on the development/regulatory front will hurt the company’s future prospect. Additionally, most of its candidates are still several years away from entering the market, if at all. Moreover, estimates have been moving down lately ahead of the company's third-quarter 2016 results.”
AGIO has been the subject of several other reports. BTIG Research began coverage on shares of Agios Pharmaceuticals in a report on Friday, August 19th. They set a “neutral” rating for the company. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $46.00 price objective on shares of Agios Pharmaceuticals in a report on Wednesday, August 10th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Agios Pharmaceuticals in a report on Tuesday, July 12th. Finally, Canaccord Genuity reaffirmed 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 given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $63.44.
Shares of Agios Pharmaceuticals (NASDAQ:AGIO) traded down 1.38% during trading on Wednesday, hitting $48.58. 169,806 shares of the company’s stock were exchanged. The firm’s market capitalization is $1.85 billion. The stock’s 50 day moving average is $48.37 and its 200 day moving average is $46.96. Agios Pharmaceuticals has a 1-year low of $33.50 and a 1-year high of $81.77.
Agios Pharmaceuticals (NASDAQ:AGIO) last posted its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($1.47) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by $0.99. The firm had revenue of $6.98 million for 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%. Agios Pharmaceuticals’s quarterly revenue was down 47.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.85) earnings per share. On average, equities research analysts forecast 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 stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $55.00, for a total transaction of $275,000.00. Following the completion of the sale, the insider now owns 48,270 shares in the company, valued at approximately $2,654,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lewis Clayton Jr. Cantley sold 627 shares of the stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $41.85, for a total transaction of $26,239.95. Following the sale, the director now owns 112,167 shares of the company’s stock, valued at approximately $4,694,188.95. The disclosure for this sale can be found here. 10.55% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in AGIO. First Mercantile Trust Co. purchased a new stake in shares of Agios Pharmaceuticals during the third quarter worth about $137,000. 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 worth $145,000 after buying an additional 2,841 shares during the period. 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 worth $164,000 after buying an additional 1,136 shares during the period. 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 worth $181,000 after buying an additional 1,759 shares during the period. Finally, Parametrica Management Ltd purchased a new stake in shares of Agios Pharmaceuticals during the third quarter worth about $246,000. Institutional investors and hedge funds own 81.63% 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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