Agios Pharmaceuticals Inc. (NASDAQ:AGIO)’s share price fell 3.9% during mid-day trading on Friday after an insider sold shares in the company. The company traded as low as $51.26 and last traded at $51.72, with a volume of 352,648 shares changing hands. The stock had previously closed at $53.80.
Specifically, insider Scott Biller sold 5,000 shares of the business’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $55.00, for a total transaction of $275,000.00. Following the transaction, the insider now directly owns 48,270 shares in the company, valued at $2,654,850. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lewis Clayton Jr. Cantley sold 2,504 shares of the business’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $42.80, for a total transaction of $107,171.20. Following the transaction, the director now owns 112,167 shares in the company, valued at $4,800,747.60. The disclosure for this sale can be found here. Insiders own 10.55% of the company’s stock.
AGIO has been the topic of several analyst reports. Canaccord Genuity upgraded shares of Agios Pharmaceuticals from a “hold” rating to a “buy” rating and boosted their price target for the stock from $50.00 to $90.00 in a report on Monday, June 13th. Credit Suisse Group AG restated a “buy” rating on shares of Agios Pharmaceuticals in a report on Tuesday, July 12th. Goldman Sachs Group Inc. restated a “hold” rating and set a $46.00 price target on shares of Agios Pharmaceuticals in a report on Monday, June 13th. BTIG Research initiated coverage on shares of Agios Pharmaceuticals in a report on Friday, August 19th. They set a “neutral” rating on the stock. Finally, Janney Montgomery Scott restated a “neutral” rating and set a $47.00 price target (down from $52.00) on shares of Agios Pharmaceuticals in a report on Monday, June 13th. One analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $63.44.
The stock’s 50 day moving average is $45.72 and its 200-day moving average is $46.18. The firm’s market cap is $1.97 billion.
Agios Pharmaceuticals (NASDAQ:AGIO) last issued its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.47) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by $0.99. The business earned $6.98 million during the quarter, compared to the consensus estimate of $39.62 million. Agios Pharmaceuticals had a negative return on equity of 47.69% and a negative net margin of 320.33%. The firm’s revenue was down 47.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.85) earnings per share. On average, equities research analysts expect that Agios Pharmaceuticals Inc. will post ($5.04) EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the company. First Mercantile Trust Co. acquired a new position in shares of Agios Pharmaceuticals during the third quarter valued at about $137,000. BlackRock Inc. raised its position 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 valued at $145,000 after buying an additional 2,841 shares during the last quarter. Teacher Retirement System of Texas raised its position 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 valued at $164,000 after buying an additional 1,136 shares during the last quarter. Royal Bank of Canada raised its position 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 valued at $181,000 after buying an additional 1,759 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new stake in Agios Pharmaceuticals during the second quarter worth $209,000. Institutional investors own 81.59% of the company’s stock.
About Agios Pharmaceuticals
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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