BidaskClub Downgrades Agios Pharmaceuticals (AGIO) to Buy

Agios Pharmaceuticals (NASDAQ:AGIO) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday.

A number of other equities analysts have also weighed in on the company. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Agios Pharmaceuticals in a research report on Monday, June 4th. Citigroup assumed coverage on Agios Pharmaceuticals in a research report on Wednesday, May 23rd. They set a “buy” rating and a $117.00 target price on the stock. Credit Suisse Group set a $95.00 target price on Agios Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, May 7th. SunTrust Banks set a $115.00 target price on Agios Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, May 7th. Finally, ValuEngine raised Agios Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $95.55.

Agios Pharmaceuticals stock opened at $83.79 on Tuesday. The company has a market cap of $5.33 billion, a price-to-earnings ratio of -12.41 and a beta of 2.00. Agios Pharmaceuticals has a 52-week low of $50.91 and a 52-week high of $99.82.

Agios Pharmaceuticals (NASDAQ:AGIO) last issued its earnings results on Friday, May 4th. The biopharmaceutical company reported ($1.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.03). Agios Pharmaceuticals had a negative return on equity of 61.70% and a negative net margin of 822.32%. The firm had revenue of $8.80 million for the quarter, compared to analyst estimates of $11.93 million. During the same period in the previous year, the company earned ($1.56) earnings per share. Agios Pharmaceuticals’s revenue for the quarter was down 16.2% compared to the same quarter last year. sell-side analysts anticipate that Agios Pharmaceuticals will post -6.41 earnings per share for the current fiscal year.

In related news, insider Steven L. Hoerter sold 2,050 shares of the stock in a transaction on Monday, April 23rd. The stock was sold at an average price of $85.95, for a total value of $176,197.50. Following the completion of the sale, the insider now directly owns 2,050 shares of the company’s stock, valued at approximately $176,197.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David P. Schenkein sold 13,000 shares of the stock in a transaction on Friday, June 1st. The shares were sold at an average price of $95.35, for a total value of $1,239,550.00. The disclosure for this sale can be found here. Insiders sold a total of 175,277 shares of company stock valued at $15,593,610 over the last three months. 3.02% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Profund Advisors LLC raised its position in Agios Pharmaceuticals by 4.3% in the 1st quarter. Profund Advisors LLC now owns 15,875 shares of the biopharmaceutical company’s stock valued at $1,298,000 after buying an additional 649 shares during the last quarter. State of Wisconsin Investment Board raised its position in Agios Pharmaceuticals by 15.7% in the 1st quarter. State of Wisconsin Investment Board now owns 9,904 shares of the biopharmaceutical company’s stock valued at $810,000 after buying an additional 1,345 shares during the last quarter. Principal Financial Group Inc. raised its position in Agios Pharmaceuticals by 11.5% in the 1st quarter. Principal Financial Group Inc. now owns 14,895 shares of the biopharmaceutical company’s stock valued at $1,218,000 after buying an additional 1,533 shares during the last quarter. Swiss National Bank raised its position in Agios Pharmaceuticals by 2.3% in the 4th quarter. Swiss National Bank now owns 70,060 shares of the biopharmaceutical company’s stock valued at $4,005,000 after buying an additional 1,600 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in Agios Pharmaceuticals by 2.4% in the 1st quarter. Wells Fargo & Company MN now owns 72,776 shares of the biopharmaceutical company’s stock valued at $5,952,000 after purchasing an additional 1,711 shares during the period. 94.51% of the stock is owned by institutional investors and hedge funds.

Agios Pharmaceuticals Company Profile

Agios Pharmaceuticals, Inc, a biopharmaceutical company, engages in the discovery and development of medicines for the treatment of cancer and rare genetic metabolic disorders in the United States. It is developing IDHIFA, a potent inhibitor of the mutated isocitrate dehydrogenase (IDH) 2 protein that is in Phase I/II clinical trials for patients with advanced hematologic malignancies with an IDH 2 mutation; Phase III clinical trial for patients with IDH2 mutant-positive acute myeloid leukemia (AML); Phase Ib frontline combination trial for patients with newly diagnosed AML with an IDH2 or IDH1 mutation; and Phase I/II frontline combination trial for patients with newly diagnosed AML.

Analyst Recommendations for Agios Pharmaceuticals (NASDAQ:AGIO)

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