Needham & Company LLC Increases Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) Price Target to $72.00
Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) had its target price boosted by stock analysts at Needham & Company LLC from $54.00 to $72.00 in a research note issued on Thursday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 18.89% from the company’s current price.
Several other research analysts have also recently commented on AGIO. Zacks Investment Research cut Agios Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. 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. Cann restated a “buy” rating and issued a $75.00 price objective on shares of Agios Pharmaceuticals in a research note on Wednesday, April 19th. Canaccord Genuity set a $90.00 price objective on Agios Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, May 4th. Finally, Oppenheimer Holdings, Inc. set a $75.00 price objective on Agios Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, June 1st. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Agios Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $70.67.
Agios Pharmaceuticals (NASDAQ AGIO) opened at 60.56 on Thursday. The firm has a 50-day moving average price of $56.81 and a 200 day moving average price of $51.69. Agios Pharmaceuticals has a 12 month low of $35.84 and a 12 month high of $67.74. The company’s market capitalization is $2.92 billion.
Agios Pharmaceuticals (NASDAQ:AGIO) last issued its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.78) EPS for the quarter, missing the consensus estimate of ($1.57) by $0.21. Agios Pharmaceuticals had a negative net margin of 502.12% and a negative return on equity of 75.48%. The company had revenue of $11.30 million for the quarter, compared to analyst estimates of $10.68 million. During the same period last year, the company posted ($1.47) earnings per share. The business’s revenue for the quarter was up 62.1% on a year-over-year basis. Analysts expect that Agios Pharmaceuticals will post ($6.90) EPS for the current year.
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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 transaction of $1,618,650.00. Following the transaction, the chief executive officer now owns 3,000 shares in the company, valued at $179,850. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lewis Clayton Jr. Cantley sold 2,036 shares of the stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $47.10, for a total value of $95,895.60. Following the transaction, the director now owns 91,206 shares in the company, valued at approximately $4,295,802.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 79,120 shares of company stock worth $4,557,207. 10.55% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. First Trust Advisors LP raised its position in shares of Agios Pharmaceuticals by 17.8% in the first quarter. First Trust Advisors LP now owns 639,579 shares of the biopharmaceutical company’s stock worth $37,351,000 after buying an additional 96,712 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of Agios Pharmaceuticals by 0.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 39,473 shares of the biopharmaceutical company’s stock worth $2,305,000 after buying an additional 126 shares during the period. C WorldWide Group Holding A S purchased a new position in shares of Agios Pharmaceuticals during the first quarter worth $105,000. Canada Pension Plan Investment Board raised its position in shares of Agios Pharmaceuticals by 152.1% in the first quarter. Canada Pension Plan Investment Board now owns 30,500 shares of the biopharmaceutical company’s stock worth $1,781,000 after buying an additional 18,400 shares during the period. Finally, Wells Fargo & Company MN raised its position in shares of Agios Pharmaceuticals by 312.0% in the first quarter. Wells Fargo & Company MN now owns 40,084 shares of the biopharmaceutical company’s stock worth $2,341,000 after buying an additional 30,354 shares during the period. Institutional investors own 84.53% of the company’s stock.
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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