Agios Pharmaceuticals Inc. (AGIO) Sees Large Volume Increase
Agios Pharmaceuticals Inc. (NASDAQ:AGIO) saw unusually-strong trading volume on Monday . Approximately 916,221 shares traded hands during mid-day trading, an increase of 83% from the previous session’s volume of 499,602 shares.The stock last traded at $40.67 and had previously closed at $43.12.
Several equities analysts recently weighed in on AGIO shares. JPMorgan Chase & Co. raised Agios Pharmaceuticals from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $50.00 to $62.00 in a research note on Monday, June 13th. Credit Suisse Group AG reissued a “buy” rating on shares of Agios Pharmaceuticals in a research report on Tuesday, July 12th. Canaccord Genuity raised Agios Pharmaceuticals from a “hold” rating to a “buy” rating and raised their price target for the stock from $50.00 to $90.00 in a research report on Monday, June 13th. Zacks Investment Research raised Agios Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Wednesday, April 20th. Finally, Vetr downgraded Agios Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $68.42 price target for the company. in a research report on Tuesday, June 7th. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $63.44.
The firm’s market capitalization is $1.54 billion. The company’s 50 day moving average price is $43.56 and its 200 day moving average price is $44.96.
Agios Pharmaceuticals (NASDAQ:AGIO) last released its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by $0.99. The business earned $6.98 million during the quarter, compared to analysts’ expectations of $39.62 million. During the same period last year, the business earned ($0.85) EPS. Agios Pharmaceuticals’s revenue for the quarter was down 47.2% compared to the same quarter last year. On average, analysts expect that Agios Pharmaceuticals Inc. will post ($3.64) EPS for the current year.
In other news, insider Scott Biller sold 27,500 shares of the stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $65.00, for a total transaction of $1,787,500.00. Following the completion of the sale, the insider now owns 81,376 shares in the company, valued at approximately $5,289,440. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lewis Clayton Jr. Cantley sold 627 shares of the stock in a transaction on Monday, July 25th. The shares were sold at an average price of $41.85, for a total value 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.
Other large investors recently made changes to their positions in the company. Mutual of America Capital Management LLC increased its stake in shares of Agios Pharmaceuticals by 0.5% in the fourth quarter. Mutual of America Capital Management LLC now owns 17,325 shares of the biopharmaceutical company’s stock worth $1,125,000 after buying an additional 86 shares during the period. Rhumbline Advisers increased its stake in shares of Agios Pharmaceuticals by 2.5% in the fourth quarter. Rhumbline Advisers now owns 24,947 shares of the biopharmaceutical company’s stock worth $1,620,000 after buying an additional 605 shares during the period. Finally, Jennison Associates LLC increased its stake in shares of Agios Pharmaceuticals by 170.6% in the fourth quarter. Jennison Associates LLC now owns 430,085 shares of the biopharmaceutical company’s stock worth $27,921,000 after buying an additional 271,142 shares during the period.
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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