J P Morgan Chase & Co reaffirmed their buy rating on shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) in a research note published on Monday morning. The brokerage currently has a $76.00 target price on the biopharmaceutical company’s stock.
Several other equities analysts have also weighed in on the company. Janney Montgomery Scott lowered Agios Pharmaceuticals from a buy rating to a neutral rating in a research note on Monday, June 26th. Cann restated a buy rating and issued a $75.00 price target on shares of Agios Pharmaceuticals in a research note on Sunday, June 11th. ValuEngine upgraded Agios Pharmaceuticals from a sell rating to a hold rating in a research note on Thursday, June 22nd. Oppenheimer Holdings, Inc. set a $75.00 price target on Agios Pharmaceuticals and gave the company a buy rating in a research note on Thursday, June 1st. Finally, BidaskClub upgraded Agios Pharmaceuticals from a hold rating to a buy rating in a research note on Thursday, July 13th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $75.20.
Agios Pharmaceuticals (AGIO) opened at 66.63 on Monday. Agios Pharmaceuticals has a 1-year low of $39.24 and a 1-year high of $67.74. The stock has a 50 day moving average price of $60.83 and a 200-day moving average price of $54.73. The company’s market cap is $3.22 billion.
Agios Pharmaceuticals (NASDAQ:AGIO) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.78) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.57) by ($0.21). Agios Pharmaceuticals had a negative net margin of 502.12% and a negative return on equity of 68.15%. The business had revenue of $11.30 million during the quarter, compared to analysts’ expectations of $10.68 million. During the same quarter in the prior year, the firm earned ($1.47) EPS. Agios Pharmaceuticals’s revenue for the quarter was up 62.1% on a year-over-year basis. On average, equities research analysts forecast that Agios Pharmaceuticals will post ($7.07) EPS for the current year.
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In other news, CEO David P. Schenkein sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $67.12, for a total transaction of $2,349,200.00. Following the transaction, the chief executive officer now directly owns 35,000 shares in the company, valued at approximately $2,349,200. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO David P. Schenkein sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $51.18, for a total value of $153,540.00. Following the transaction, the chief executive officer now owns 3,000 shares in the company, valued at $153,540. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 134,938 shares of company stock valued at $8,359,112. 10.55% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the company. Bank of Montreal Can boosted its holdings in shares of Agios Pharmaceuticals by 11.7% during the 1st quarter. Bank of Montreal Can now owns 2,068 shares of the biopharmaceutical company’s stock worth $121,000 after purchasing an additional 216 shares during the last quarter. Blue Sky Asset Management LLC acquired a new position in shares of Agios Pharmaceuticals during the 1st quarter worth approximately $129,000. Russell Investments Group Ltd. boosted its holdings in shares of Agios Pharmaceuticals by 163.9% during the 1st quarter. Russell Investments Group Ltd. now owns 2,549 shares of the biopharmaceutical company’s stock worth $149,000 after purchasing an additional 1,583 shares during the last quarter. QS Investors LLC acquired a new position in shares of Agios Pharmaceuticals during the 2nd quarter worth approximately $144,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of Agios Pharmaceuticals by 1,041.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,423 shares of the biopharmaceutical company’s stock worth $176,000 after purchasing an additional 3,123 shares during the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.
About Agios Pharmaceuticals
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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