Agios Pharmaceuticals Inc. (NASDAQ:AGIO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors 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 equities analysts also recently weighed in on AGIO. Goldman Sachs Group Inc. reissued a “hold” rating and issued a $46.00 price target on shares of Agios Pharmaceuticals in a research note on Monday, June 13th. Janney Montgomery Scott reaffirmed a “neutral” rating and set a $47.00 target price (down from $52.00) on shares of Agios Pharmaceuticals in a research note on Monday, June 13th. JPMorgan Chase & Co. raised shares of Agios Pharmaceuticals from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $50.00 to $62.00 in a research note on Friday, June 10th. Vetr downgraded shares of Agios Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $68.42 target price on the stock. in a research note on Tuesday, June 7th. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $50.00 target price on shares of Agios Pharmaceuticals in a research note on Thursday, June 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $63.44.
Agios Pharmaceuticals (NASDAQ:AGIO) opened at 53.80 on Wednesday. The company’s market capitalization is $2.05 billion. The stock’s 50 day moving average is $45.72 and its 200-day moving average is $46.18. Agios Pharmaceuticals has a 1-year low of $33.50 and a 1-year high of $81.77.
Agios Pharmaceuticals (NASDAQ:AGIO) last posted its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.47) earnings per share 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 analysts’ expectations of $39.62 million. Agios Pharmaceuticals had a negative return on equity of 47.69% and a negative net margin of 320.33%. The business’s quarterly revenue was down 47.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.85) earnings per share. On average, analysts expect that Agios Pharmaceuticals will post ($5.04) earnings per share for the current fiscal year.
In other news, 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 sale, the insider now directly owns 48,270 shares of the company’s stock, valued at approximately $2,413,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lewis Clayton Jr. Cantley sold 627 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $41.85, for a total transaction of $26,239.95. Following the completion of the sale, the director now directly owns 112,167 shares in the company, valued at $4,694,188.95. The disclosure for this sale can be found here. 10.55% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in AGIO. Flagship Ventures Fund 2007 L.P. bought a new stake in Agios Pharmaceuticals during the first quarter worth about $78,373,000. Capital Guardian Trust Co. boosted its position in shares of Agios Pharmaceuticals by 57.6% in the second quarter. Capital Guardian Trust Co. now owns 668,100 shares of the biopharmaceutical company’s stock worth $27,990,000 after buying an additional 244,178 shares during the period. BlackRock Advisors LLC boosted its position in shares of Agios Pharmaceuticals by 1,942.6% in the second quarter. BlackRock Advisors LLC now owns 253,023 shares of the biopharmaceutical company’s stock worth $10,600,000 after buying an additional 240,636 shares during the period. Fiera Capital Corp acquired a new position in shares of Agios Pharmaceuticals during the second quarter worth $9,707,000. Finally, BB Biotech AG boosted its position in shares of Agios Pharmaceuticals by 9.4% in the second quarter. BB Biotech AG now owns 2,363,321 shares of the biopharmaceutical company’s stock worth $99,011,000 after buying an additional 203,400 shares during the period. 81.59% of the stock is currently owned by institutional investors and hedge funds.
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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