Goldman Sachs Group Inc. started coverage on shares of Agios Pharmaceuticals (NASDAQ:AGIO) in a research note issued on Monday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
The analysts wrote, “We initiate coverage of AGIO at Buy with a 12-month price target of $37. We see the company as an emerging biotech leader in the area of targeting dysregulated cellular metabolism for cancer and inborn errors of metabolism (IEMs), which are a subset of orphan genetic diseases. AGIO has an early stage pipeline with three drugs entering clinical trials between now and year-end 2014. AGIO’s lead cancer drugs are partnered with CELG and the company has retained WW rights to its orphan drug. The CELG partnership offers independent validation of AGIO’s approach in cancer.”
Agios Pharmaceuticals (NASDAQ:AGIO) traded down 1.00% during mid-day trading on Monday, hitting $31.59. 58,983 shares of the company’s stock traded hands. Agios Pharmaceuticals has a 52-week low of $27.16 and a 52-week high of $33.45. The stock has a 50-day moving average of $29.9 and a 200-day moving average of $29.9. The company’s market cap is $951.7 million.
Agios Pharmaceuticals, Inc is a biopharmaceutical company. The Company is intend to apply its deep understanding of metabolism, coupled with the Company’s ability to create medicines that can inhibit or activate metabolic enzymes, to fundamentally change the way cancer and inborn errors of metabolism (NASDAQ:AGIO) are treated.