Credit Suisse Group AG Reiterates Buy Rating for Agios Pharmaceuticals Inc. (AGIO)
Agios Pharmaceuticals Inc. (NASDAQ:AGIO)‘s stock had its “buy” rating reaffirmed by Credit Suisse Group AG in a research note issued on Monday.
The analysts wrote, “We view this as positive proof of concept for the inhibition of mutIDH in the treatment of IDHmut glioma. We note AG-120 shows only limited brain penetration, and we view these data providing a positive read-through for AG-881’s development in this indication.””
A number of other research firms also recently issued reports on AGIO. Leerink Swann reaffirmed a “market perform” rating on shares of Agios Pharmaceuticals in a research report on Friday, November 4th. Zacks Investment Research downgraded Agios Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, October 5th. Needham & Company LLC assumed coverage on Agios Pharmaceuticals in a research report on Monday, October 24th. They set a “buy” rating and a $60.00 price target on the stock. Cowen and Company reissued a “buy” rating on shares of Agios Pharmaceuticals in a research report on Thursday, November 3rd. Finally, Canaccord Genuity reissued a “buy” rating and set a $90.00 price target on shares of Agios Pharmaceuticals in a research report on Thursday, September 8th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Agios Pharmaceuticals has a consensus rating of “Buy” and an average target price of $61.94.
Shares of Agios Pharmaceuticals (NASDAQ:AGIO) traded up 0.93% during mid-day trading on Monday, hitting $63.12. The company’s stock had a trading volume of 93,740 shares. The company’s market cap is $2.65 billion. The company has a 50-day moving average of $53.02 and a 200 day moving average of $47.72. Agios Pharmaceuticals has a 1-year low of $33.50 and a 1-year high of $71.49.
Agios Pharmaceuticals (NASDAQ:AGIO) last released its earnings results on Thursday, November 3rd. The biopharmaceutical company reported ($1.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.52) by $0.11. The company earned $8.98 million during the quarter, compared to analyst estimates of $7.82 million. Agios Pharmaceuticals had a negative net margin of 341.56% and a negative return on equity of 53.39%. Agios Pharmaceuticals’s revenue was up 63.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.07) EPS. On average, analysts expect that Agios Pharmaceuticals will post ($5.15) EPS for the current year.
In other news, insider Scott Biller sold 5,000 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 48,270 shares in the company, valued at $2,654,850. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lewis Clayton Jr. Cantley sold 627 shares of the company’s stock in a transaction on Tuesday, September 27th. The stock was sold at an average price of $54.15, for a total transaction of $33,952.05. Following the transaction, the director now owns 109,659 shares of the company’s stock, valued at $5,938,034.85. The disclosure for this sale can be found here. 10.55% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in shares of Agios Pharmaceuticals by 49.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 1,239,924 shares of the biopharmaceutical company’s stock valued at $65,493,000 after buying an additional 407,975 shares during the period. Credit Suisse AG increased its position in shares of Agios Pharmaceuticals by 22.5% in the third quarter. Credit Suisse AG now owns 122,349 shares of the biopharmaceutical company’s stock valued at $6,462,000 after buying an additional 22,462 shares during the period. Redmile Group LLC bought a new position in shares of Agios Pharmaceuticals during the third quarter valued at about $38,976,000. Baker BROS. Advisors LP bought a new position in shares of Agios Pharmaceuticals during the third quarter valued at about $10,982,000. Finally, Capital International Investors increased its position in shares of Agios Pharmaceuticals by 0.3% in the third quarter. Capital International Investors now owns 1,504,896 shares of the biopharmaceutical company’s stock valued at $79,489,000 after buying an additional 3,859 shares during the period. Institutional investors own 84.94% of the company’s stock.
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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