Agios Pharmaceuticals (NASDAQ:AGIO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

According to Zacks, “Agios received an FDA approval of Idhifa (enasidenib) in August for treatment of AML, which was a huge boost, given the immense commercial potential in the target market. We are also optimistic about its collaboration with Celgene as it provides Agios with regular funds. The company’s progress with the pipeline candidates, AG-120 and AG-881, has been quite impressive too. In December, the company submitted a new drug application to the FDA for  AG-120 for treatment of AML. Shares of the company have outperformed the industry in the last one year. However, Agios depends heavily on partner Celgene for revenues as Idhifa is only in the early stages of launch. Also, the decision to discontinue the development of AG-519 was disappointing. Stiff competition is another matter of concern for the company.”

AGIO has been the subject of several other research reports. Oppenheimer reissued a “buy” rating and issued a $83.00 price target on shares of Agios Pharmaceuticals in a research note on Monday, December 11th. Cann reissued a “buy” rating on shares of Agios Pharmaceuticals in a research note on Tuesday, December 5th. Credit Suisse Group boosted their price target on Agios Pharmaceuticals from $61.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, November 2nd. Canaccord Genuity set a $90.00 price target on Agios Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, December 12th. Finally, BidaskClub cut Agios Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, December 16th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Agios Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $76.45.

Shares of Agios Pharmaceuticals (AGIO) traded up $1.21 during midday trading on Monday, hitting $70.01. The company had a trading volume of 44,197 shares, compared to its average volume of 710,070. The company has a market cap of $3,420.00, a PE ratio of -11.17 and a beta of 1.83. Agios Pharmaceuticals has a 1-year low of $39.24 and a 1-year high of $76.02.

Agios Pharmaceuticals (NASDAQ:AGIO) last announced its quarterly earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($1.59) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.78) by $0.19. The business had revenue of $11.35 million during the quarter, compared to analysts’ expectations of $10.85 million. Agios Pharmaceuticals had a negative return on equity of 69.64% and a negative net margin of 506.39%. The firm’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.63) EPS. analysts expect that Agios Pharmaceuticals will post -6.59 EPS for the current fiscal year.

In related news, CEO David P. Schenkein sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $63.85, for a total value of $383,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David P. Schenkein sold 53,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $73.16, for a total value of $3,877,480.00. Following the completion of the sale, the chief executive officer now owns 53,000 shares of the company’s stock, valued at $3,877,480. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,130 shares of company stock valued at $5,561,250. Corporate insiders own 5.43% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of AGIO. QS Investors LLC acquired a new position in shares of Agios Pharmaceuticals during the second quarter worth approximately $144,000. Cubist Systematic Strategies LLC lifted its holdings in shares of Agios Pharmaceuticals by 1,041.0% during the second quarter. Cubist Systematic Strategies LLC now owns 3,423 shares of the biopharmaceutical company’s stock worth $176,000 after buying an additional 3,123 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Agios Pharmaceuticals by 74.8% during the fourth quarter. Bank of Montreal Can now owns 3,551 shares of the biopharmaceutical company’s stock worth $203,000 after buying an additional 1,520 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Agios Pharmaceuticals during the third quarter worth approximately $225,000. Finally, S&CO Inc. acquired a new position in shares of Agios Pharmaceuticals during the third quarter worth approximately $227,000. Hedge funds and other institutional investors own 94.32% of the company’s stock.

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Agios Pharmaceuticals Company Profile

Agios Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company’s therapeutic areas of focus are cancer and rare genetic metabolic disorders, which are a group of over 600 rare genetic diseases caused by mutations, or defects, of single metabolic genes. The Company’s cancer product candidates are enasidenib and ivosidenib (AG-120), which target mutated isocitrate dehydrogenase 2 (IDH2) and isocitrate dehydrogenase 1 (IDH1), respectively, and AG-881, which targets both mutated IDH1 and mutated IDH2.

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