Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) Receives “Buy” Rating from SunTrust Banks, Inc.
SunTrust Banks, Inc. reaffirmed their buy rating on shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) in a research note published on Tuesday morning, MarketBeat Ratings reports. They currently have a $80.00 price target on the biopharmaceutical company’s stock, up from their previous price target of $68.00. SunTrust Banks also issued estimates for Agios Pharmaceuticals’ Q3 2017 earnings at ($1.78) EPS, Q4 2017 earnings at ($1.77) EPS, FY2017 earnings at ($6.92) EPS, FY2019 earnings at ($5.80) EPS, FY2020 earnings at ($4.90) EPS and FY2021 earnings at ($1.80) EPS.
AGIO has been the topic of a number of other reports. Oppenheimer Holdings, Inc. set a $75.00 price objective on Agios Pharmaceuticals and gave the company a buy rating in a research report on Sunday, June 11th. ValuEngine upgraded Agios Pharmaceuticals from a strong sell rating to a sell rating in a research report on Friday, June 2nd. Zacks Investment Research upgraded Agios Pharmaceuticals from a sell rating to a hold rating in a research report on Friday, April 28th. Canaccord Genuity set a $90.00 price objective on Agios Pharmaceuticals and gave the company a buy rating in a research report on Thursday, May 18th. Finally, Cann reiterated a buy rating and issued a $75.00 price objective on shares of Agios Pharmaceuticals in a research report on Wednesday, April 19th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Agios Pharmaceuticals presently has an average rating of Buy and an average target price of $74.75.
Agios Pharmaceuticals (AGIO) traded up 1.03% during mid-day trading on Tuesday, hitting $58.86. The stock had a trading volume of 501,674 shares. The firm’s market cap is $2.85 billion. Agios Pharmaceuticals has a 1-year low of $35.84 and a 1-year high of $67.74. The stock has a 50 day moving average of $56.90 and a 200-day moving average of $51.87.
Agios Pharmaceuticals (NASDAQ:AGIO) last released its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.78) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.57) by $0.21. The business had revenue of $11.30 million for the quarter, compared to the consensus estimate of $10.68 million. Agios Pharmaceuticals had a negative return on equity of 68.15% and a negative net margin of 502.12%. The firm’s revenue was up 62.1% on a year-over-year basis. During the same quarter last year, the company earned ($1.47) earnings per share. Analysts predict that Agios Pharmaceuticals will post ($6.90) EPS for the current fiscal year.
In other news, CEO David P. Schenkein sold 27,000 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $59.95, for a total value of $1,618,650.00. Following the transaction, the chief executive officer now directly owns 3,000 shares in the company, valued at approximately $179,850. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David P. Schenkein sold 3,000 shares of the firm’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $50.02, for a total value of $150,060.00. Following the completion of the transaction, the chief executive officer now owns 1,100 shares in the company, valued at $55,022. The disclosure for this sale can be found here. Insiders sold a total of 79,120 shares of company stock worth $4,557,207 over the last 90 days. 10.55% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. C WorldWide Group Holding A S bought a new position in Agios Pharmaceuticals during the first quarter valued at about $105,000. Bank of Montreal Can raised its position in Agios Pharmaceuticals by 11.7% in the first quarter. Bank of Montreal Can now owns 2,068 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 216 shares in the last quarter. Blue Sky Asset Management LLC bought a new position in Agios Pharmaceuticals during the first quarter valued at about $129,000. Russell Investments Group Ltd. raised its position in Agios Pharmaceuticals by 163.9% in the first quarter. Russell Investments Group Ltd. now owns 2,549 shares of the biopharmaceutical company’s stock valued at $149,000 after buying an additional 1,583 shares in the last quarter. Finally, Advantage Investment Management LLC raised its position in Agios Pharmaceuticals by 109.7% in the first quarter. Advantage Investment Management LLC now owns 3,250 shares of the biopharmaceutical company’s stock valued at $190,000 after buying an additional 1,700 shares in the last quarter. Institutional investors and hedge funds own 84.53% of the company’s stock.
About Agios Pharmaceuticals
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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