Agios Pharmaceuticals (AGIO) Sees Strong Trading Volume Following Analyst Upgrade

Agios Pharmaceuticals Inc (NASDAQ:AGIO) shares saw unusually-strong trading volume on Friday after Royal Bank of Canada raised their price target on the stock to $91.00. Royal Bank of Canada currently has an outperform rating on the stock. Approximately 4,119,632 shares were traded during mid-day trading, an increase of 325% from the previous session’s volume of 969,146 shares.The stock last traded at $69.89 and had previously closed at $68.15.

Other equities analysts have also issued research reports about the company. SunTrust Banks reissued a “buy” rating and set a $80.00 target price on shares of Agios Pharmaceuticals in a research note on Wednesday, October 4th. Oppenheimer set a $83.00 target price on Agios Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, December 26th. Canaccord Genuity set a $90.00 target price on Agios Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Cann reissued a “buy” rating on shares of Agios Pharmaceuticals in a research note on Tuesday, December 5th. Finally, Zacks Investment Research raised Agios Pharmaceuticals from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research note on Tuesday, January 9th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $77.64.

In other Agios Pharmaceuticals news, CEO David P. Schenkein sold 53,000 shares of the company’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $73.16, for a total transaction of $3,877,480.00. Following the sale, the chief executive officer now owns 53,000 shares in the company, valued at approximately $3,877,480. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David P. Schenkein sold 6,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $63.85, for a total value of $383,100.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,130 shares of company stock worth $5,561,250. 5.43% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. California Public Employees Retirement System increased its holdings in Agios Pharmaceuticals by 2.3% during the 2nd quarter. California Public Employees Retirement System now owns 34,900 shares of the biopharmaceutical company’s stock worth $1,796,000 after purchasing an additional 800 shares during the period. UBS Asset Management Americas Inc. increased its holdings in Agios Pharmaceuticals by 3.2% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 27,088 shares of the biopharmaceutical company’s stock worth $1,394,000 after purchasing an additional 852 shares during the period. Amalgamated Bank increased its holdings in Agios Pharmaceuticals by 12.9% during the 3rd quarter. Amalgamated Bank now owns 7,827 shares of the biopharmaceutical company’s stock worth $522,000 after purchasing an additional 897 shares during the period. Bank of Montreal Can increased its holdings in Agios Pharmaceuticals by 74.8% during 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. Finally, Nationwide Fund Advisors increased its holdings in Agios Pharmaceuticals by 37.8% during the 3rd quarter. Nationwide Fund Advisors now owns 6,344 shares of the biopharmaceutical company’s stock worth $423,000 after purchasing an additional 1,740 shares during the period. Institutional investors own 94.32% of the company’s stock.

The stock has a market cap of $3,480.00, a price-to-earnings ratio of -11.15 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) EPS for the quarter, beating analysts’ consensus estimates of ($1.78) by $0.19. Agios Pharmaceuticals had a negative return on equity of 69.64% and a negative net margin of 506.39%. The business had revenue of $11.35 million for the quarter, compared to the consensus estimate of $10.85 million. During the same quarter in the prior year, the business posted ($1.63) EPS. The business’s revenue for the quarter was up 26.4% on a year-over-year basis. sell-side analysts expect that Agios Pharmaceuticals Inc will post -6.59 earnings per share for the current year.

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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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