Zacks Investment Research upgraded shares of Agios Pharmaceuticals (NASDAQ:AGIO) from a hold rating to a buy rating in a research report sent to investors on Tuesday. They currently have $84.00 price objective on the biopharmaceutical company’s stock.
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 commented on the company. Oppenheimer set a $83.00 target price on Agios Pharmaceuticals and gave the stock a buy rating in a research report on Monday, January 1st. ValuEngine upgraded Agios Pharmaceuticals from a sell rating to a hold rating in a research report on Sunday, December 31st. BidaskClub upgraded Agios Pharmaceuticals from a strong sell rating to a sell rating in a report on Wednesday, December 27th. Canaccord Genuity set a $90.00 price objective on Agios Pharmaceuticals and gave the stock a buy rating in a report on Tuesday, December 12th. Finally, Cann reiterated a buy rating on shares of Agios Pharmaceuticals in a report on Tuesday, December 5th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $77.64.
Agios Pharmaceuticals (NASDAQ:AGIO) last posted its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($1.59) EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $10.85 million. During the same period in the previous year, the business earned ($1.63) earnings per share. The firm’s revenue was up 26.4% on a year-over-year basis. analysts forecast that Agios Pharmaceuticals will post -6.59 EPS for the current fiscal year.
In other news, Director Lewis Clayton Jr. Cantley sold 4,000 shares of the company’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $60.88, for a total value of $243,520.00. Following the completion of the transaction, the director now directly owns 82,394 shares in the company, valued at approximately $5,016,146.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott Biller sold 2,146 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $62.69, for a total value of $134,532.74. The disclosure for this sale can be found here. Insiders sold a total of 80,130 shares of company stock valued at $5,561,250 over the last quarter. Company insiders own 5.43% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. QS Investors LLC bought a new stake in shares of Agios Pharmaceuticals in the 2nd quarter valued at about $144,000. State of Alaska Department of Revenue bought a new stake in shares of Agios Pharmaceuticals in the 4th quarter valued at about $160,000. Cubist Systematic Strategies LLC lifted its stake in shares of 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 valued at $176,000 after acquiring an additional 3,123 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Agios Pharmaceuticals by 74.8% in the 4th quarter. Bank of Montreal Can now owns 3,551 shares of the biopharmaceutical company’s stock valued at $203,000 after acquiring an additional 1,520 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in shares of Agios Pharmaceuticals in the 3rd quarter valued at about $225,000. 94.32% of the stock is owned by institutional investors.
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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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