Agios Pharmaceuticals Inc. (NASDAQ:AGIO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
According to Zacks, “Agios is a development-stage biopharmaceutical company focused on the development of treatments for cancer and rare genetic metabolic disorders. Being a development-stage company, Agios depends heavily on Celgene for revenues, which it earns in the form of collaboration revenues. The company also depends on Celgene for two of its pipeline candidates – enasidenib and AG-881. Moreover, most of the company's pipeline candidates are in mid- and early-stages of development and thus, quite a few years away from entering the market, if at all. Stiff competition remains a threat as well. Several companies are looking to bring treatments for cancer and rare genetic metabolic disorders by targeting cellular metabolism. However, the company’s metabolic immuno-oncology focused collaboration with Celgene is encouraging. The deal will see Agios receiving funds in the form of upfront, regulatory and commercial milestone payments plus royalties.”
Several other brokerages also recently commented on AGIO. Canaccord Genuity reiterated a “hold” rating and set a $50.00 target price on shares of Agios Pharmaceuticals in a report on Thursday, June 9th. Vetr downgraded Agios Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $68.42 target price on the stock. in a report on Tuesday, June 7th. Janney Montgomery Scott reiterated a “neutral” rating and set a $47.00 target price (down from $52.00) on shares of Agios Pharmaceuticals in a report on Monday, June 13th. JPMorgan Chase & Co. upgraded Agios Pharmaceuticals from a “neutral” rating to an “overweight” rating and raised their target price for the company from $50.00 to $62.00 in a report on Monday, June 13th. Finally, Goldman Sachs Group Inc. reiterated a “hold” rating and set a $46.00 target price on shares of Agios Pharmaceuticals in a report on Monday, June 13th. One analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $63.44.
Agios Pharmaceuticals (NASDAQ:AGIO) traded up 2.14% during midday trading on Wednesday, hitting $54.44. The stock had a trading volume of 213,220 shares. The stock has a 50-day moving average price of $44.94 and a 200 day moving average price of $46.06. The firm’s market cap is $2.07 billion. Agios Pharmaceuticals has a one year low of $33.50 and a one year high of $81.77.
Agios Pharmaceuticals (NASDAQ:AGIO) last announced its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.47) EPS for the quarter, missing the consensus estimate of ($0.48) by $0.99. The company had revenue of $6.98 million for the quarter, compared to analysts’ expectations of $39.62 million. Agios Pharmaceuticals had a negative net margin of 320.33% and a negative return on equity of 47.69%. The business’s quarterly revenue was down 47.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.85) earnings per share. On average, analysts predict that Agios Pharmaceuticals will post ($5.04) earnings per share for the current year.
In other news, Director Lewis Clayton Jr. Cantley sold 627 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $41.85, for a total value of $26,239.95. Following the completion of the sale, the director now directly owns 112,167 shares in the company, valued at approximately $4,694,188.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott Biller sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $50.00, for a total value of $250,000.00. Following the completion of the sale, the insider now owns 48,270 shares of the company’s stock, valued at $2,413,500. The disclosure for this sale can be found here. Company insiders own 10.55% of the company’s stock.
Large investors have recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of Agios Pharmaceuticals by 373.3% in the first quarter. BlackRock Inc. now owns 3,602 shares of the biopharmaceutical company’s stock worth $145,000 after buying an additional 2,841 shares during the period. Teacher Retirement System of Texas increased its stake in shares of Agios Pharmaceuticals by 40.8% in the second quarter. Teacher Retirement System of Texas now owns 3,921 shares of the biopharmaceutical company’s stock worth $164,000 after buying an additional 1,136 shares during the period. Royal Bank of Canada increased its stake in shares of Agios Pharmaceuticals by 65.0% in the first quarter. Royal Bank of Canada now owns 4,465 shares of the biopharmaceutical company’s stock worth $181,000 after buying an additional 1,759 shares during the period. OMERS ADMINISTRATION Corp purchased a new stake in shares of Agios Pharmaceuticals during the second quarter worth $209,000. Finally, Utah Retirement Systems purchased a new stake in shares of Agios Pharmaceuticals during the second quarter worth $214,000. Institutional investors and hedge funds own 81.59% of the company’s stock.
Agios Pharmaceuticals Company Profile
Agios Pharmaceuticals, Inc is a biopharmaceutical company. The Company is engaged in the discovery and development of orally available small molecule medicines for the treatment of cancer and rare genetic disorders (RGDs), which are a subset of orphan genetic metabolic diseases. Its cancer product candidates are AG-221 and AG-120, which targets mutated isocitrate dehydrogenase 2 and 1, or IDH2 and IDH1, respectively, and AG-881, which targets both mutated IDH1 and mutated IDH2.
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