Agios Pharmaceuticals (AGIO) Rating Increased to Buy at Zacks Investment Research

Agios Pharmaceuticals (NASDAQ:AGIO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage currently has a $84.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 19.44% from the stock’s current price.

According to Zacks, “Agios received an FDA approval of Idhifa (enasidenib) in August for treatment of AML, which was a huge boost, given the immense commercial potential in the target market. We are also optimistic about its collaboration with Celgene as it provides Agios with regular funds. The company’s progress with the pipeline candidates, AG-120 and AG-881, has been quite impressive too. In December, the company submitted a new drug application to the FDA for  AG-120 for treatment of AML. Shares of the company have outperformed the industry in the last one year. However, Agios depends heavily on partner Celgene for revenues as Idhifa is only in the early stages of launch. Also, the decision to discontinue the development of AG-519 was disappointing. Stiff competition is another matter of concern for the company.”

Several other equities analysts have also recently issued reports on the company. Oppenheimer set a $83.00 price objective on Agios Pharmaceuticals and gave the company a “buy” rating in a research report on Monday, January 1st. ValuEngine upgraded shares of Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, December 31st. BidaskClub upgraded shares of Agios Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Wednesday, December 27th. Canaccord Genuity set a $90.00 target price on shares of Agios Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, December 12th. Finally, Cann restated a “buy” rating on shares of Agios Pharmaceuticals in a research note on Tuesday, December 5th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Agios Pharmaceuticals presently has an average rating of “Buy” and an average price target of $77.64.

Shares of Agios Pharmaceuticals (AGIO) traded up $1.53 on Tuesday, hitting $70.33. The stock had a trading volume of 410,500 shares, compared to its average volume of 682,836. Agios Pharmaceuticals has a 12-month low of $39.24 and a 12-month high of $76.02. The company has a market cap of $3,340.00, a PE ratio of -11.22 and a beta of 1.83.

Agios Pharmaceuticals (NASDAQ:AGIO) last released its quarterly earnings data on Wednesday, November 1st. The biopharmaceutical company reported ($1.59) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.78) by $0.19. The business had revenue of $11.35 million for the quarter, compared to analysts’ expectations of $10.85 million. Agios Pharmaceuticals had a negative return on equity of 69.64% and a negative net margin of 506.39%. The firm’s quarterly revenue was up 26.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.63) EPS. research analysts forecast that Agios Pharmaceuticals will post -6.59 earnings per share for the current fiscal year.

In other Agios Pharmaceuticals news, CEO David P. Schenkein sold 6,000 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $63.85, for a total transaction of $383,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott Biller sold 2,146 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $62.69, for a total transaction of $134,532.74. The disclosure for this sale can be found here. Insiders have sold a total of 80,130 shares of company stock valued at $5,561,250 in the last three months. Insiders own 5.43% of the company’s stock.

Several large investors have recently made changes to their positions in AGIO. QS Investors LLC bought a new position in shares of Agios Pharmaceuticals in the 2nd quarter valued at about $144,000. Cubist Systematic Strategies LLC raised its position in Agios Pharmaceuticals by 1,041.0% in 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. Bank of Montreal Can raised its position in Agios Pharmaceuticals by 74.8% in the 4th quarter. Bank of Montreal Can now owns 3,551 shares of the biopharmaceutical company’s stock worth $203,000 after purchasing an additional 1,520 shares during the period. Teacher Retirement System of Texas purchased a new stake in Agios Pharmaceuticals in the 3rd quarter worth about $225,000. Finally, S&CO Inc. purchased a new stake in Agios Pharmaceuticals in the 3rd quarter worth about $227,000. 94.32% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Agios Pharmaceuticals (NASDAQ:AGIO)

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