Agios Pharmaceuticals, Inc. (AGIO) Receives $77.22 Consensus Price Target from Analysts
Shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) have been assigned an average rating of “Buy” from the fourteen ratings firms that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $77.22.
Several analysts recently issued reports on the company. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $83.00 target price (up previously from $75.00) on shares of Agios Pharmaceuticals in a research report on Thursday, August 10th. J P Morgan Chase & Co reissued a “buy” rating and set a $76.00 price target on shares of Agios Pharmaceuticals in a research note on Monday, September 18th. Royal Bank Of Canada started coverage on Agios Pharmaceuticals in a research note on Thursday, September 14th. They set an “outperform” rating and a $78.00 price target for the company. SunTrust Banks, Inc. reissued a “buy” rating and set a $80.00 price target (up from $68.00) on shares of Agios Pharmaceuticals in a research note on Tuesday, August 8th. Finally, Leerink Swann raised Agios Pharmaceuticals from a “market perform” rating to an “outperform” rating and increased their price target for the company from $50.00 to $80.00 in a research note on Wednesday, August 2nd.
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Shares of Agios Pharmaceuticals (AGIO) traded up 2.70% during mid-day trading on Friday, hitting $72.33. The stock had a trading volume of 406,908 shares. The company’s market cap is $3.50 billion. The stock’s 50-day moving average is $65.62 and its 200 day moving average is $56.61. Agios Pharmaceuticals has a 12 month low of $39.24 and a 12 month high of $72.50.
Agios Pharmaceuticals (NASDAQ:AGIO) last released its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.57) by ($0.21). Agios Pharmaceuticals had a negative return on equity of 68.15% and a negative net margin of 502.12%. The business had revenue of $11.30 million for the quarter, compared to analysts’ expectations of $10.68 million. During the same quarter in the prior year, the business posted ($1.47) EPS. The business’s revenue for the quarter was up 62.1% compared to the same quarter last year. On average, equities research analysts forecast that Agios Pharmaceuticals will post ($7.08) earnings per share for the current fiscal year.
In other news, CEO David P. Schenkein sold 27,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 3,000 shares in the company, valued at $179,850. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Lewis Clayton Jr. Cantley sold 1,000 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $65.47, for a total value of $65,470.00. Following the completion of the sale, the director now owns 86,394 shares in the company, valued at $5,656,215.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 228,408 shares of company stock worth $14,976,478. Company insiders own 10.55% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can increased its holdings in Agios Pharmaceuticals by 11.7% during the 1st quarter. Bank of Montreal Can now owns 2,068 shares of the biopharmaceutical company’s stock worth $121,000 after purchasing an additional 216 shares during the period. Blue Sky Asset Management LLC purchased a new position in Agios Pharmaceuticals during the 1st quarter worth $129,000. QS Investors LLC purchased a new position in Agios Pharmaceuticals during the 2nd quarter worth $144,000. Russell Investments Group Ltd. increased its holdings in Agios Pharmaceuticals by 163.9% during the 1st quarter. Russell Investments Group Ltd. now owns 2,549 shares of the biopharmaceutical company’s stock worth $149,000 after purchasing an additional 1,583 shares during the period. Finally, Cubist Systematic Strategies LLC increased its holdings in Agios Pharmaceuticals by 1,041.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,423 shares of the biopharmaceutical company’s stock worth $176,000 after purchasing an additional 3,123 shares during the period. Hedge funds and other institutional investors own 94.40% 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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