Canaccord Genuity Reiterates “$90.00” Price Target for Agios Pharmaceuticals, Inc. (NASDAQ:AGIO)
Canaccord Genuity set a $90.00 target price on Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) in a research note issued to investors on Wednesday morning. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
Several other research firms have also issued reports on AGIO. Janney Montgomery Scott lowered Agios Pharmaceuticals from a buy rating to a neutral rating in a research note on Monday, June 26th. Leerink Swann upgraded Agios Pharmaceuticals from a market perform rating to an outperform rating and upped their price objective for the company from $50.00 to $80.00 in a research note on Wednesday. BidaskClub upgraded Agios Pharmaceuticals from a hold rating to a buy rating in a research note on Thursday, July 13th. ValuEngine upgraded Agios Pharmaceuticals from a sell rating to a hold rating in a research note on Thursday, June 22nd. Finally, Credit Suisse Group restated an outperform rating and issued a $61.00 price objective on shares of Agios Pharmaceuticals in a research note on Tuesday, April 18th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Agios Pharmaceuticals presently has a consensus rating of Buy and an average price target of $67.25.
Agios Pharmaceuticals (NASDAQ:AGIO) traded down 2.51% during mid-day trading on Wednesday, reaching $61.46. The company’s stock had a trading volume of 477,021 shares. Agios Pharmaceuticals has a 52-week low of $35.84 and a 52-week high of $67.74. The stock’s market cap is $2.96 billion. The company has a 50 day moving average of $55.14 and a 200-day moving average of $50.99.
Agios Pharmaceuticals (NASDAQ:AGIO) last released its earnings results on Thursday, May 4th. The biopharmaceutical company reported ($1.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.80) by $0.24. Agios Pharmaceuticals had a negative return on equity of 71.20% and a negative net margin of 491.54%. The business had revenue of $10.51 million for the quarter, compared to analyst estimates of $9.65 million. During the same quarter in the prior year, the company posted ($0.64) earnings per share. Agios Pharmaceuticals’s revenue was down 66.4% on a year-over-year basis. Equities analysts forecast that Agios Pharmaceuticals will post ($6.43) earnings per share for the current year.
In other news, CEO David P. Schenkein sold 27,000 shares of the company’s 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 transaction, the chief executive officer now owns 3,000 shares of the company’s stock, valued at $179,850. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lewis Clayton Jr. Cantley sold 2,036 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $47.10, for a total value of $95,895.60. Following the completion of the transaction, the director now directly owns 91,206 shares in the company, valued at approximately $4,295,802.60. The disclosure for this sale can be found here. Insiders sold 79,120 shares of company stock worth $4,557,207 in the last ninety days. 10.55% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. C WorldWide Group Holding A S purchased a new position in Agios Pharmaceuticals during the first quarter valued at approximately $105,000. Bank of Montreal Can increased 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 during the last quarter. Blue Sky Asset Management LLC purchased a new position in Agios Pharmaceuticals during the first quarter valued at approximately $129,000. Russell Investments Group Ltd. increased 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 during the last quarter. Finally, Advantage Investment Management LLC increased 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 during the last quarter. 84.24% of the stock is currently owned by institutional investors.
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.
Receive News & Ratings for Agios Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Agios Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.