Agios Pharmaceuticals (NASDAQ:AGIO) Downgraded by Leerink Partnrs

Leerink Partnrs lowered shares of Agios Pharmaceuticals (NASDAQ:AGIO) from a strong-buy rating to a hold rating in a research report sent to investors on Friday morning, Zacks.com reports.

Other research analysts have also recently issued reports about the company. Cantor Fitzgerald reaffirmed an overweight rating on shares of Agios Pharmaceuticals in a research report on Friday, September 20th. JPMorgan Chase & Co. reissued a neutral rating and issued a $46.00 price target on shares of Agios Pharmaceuticals in a report on Thursday, June 13th. StockNews.com cut Agios Pharmaceuticals from a hold rating to a sell rating in a report on Monday, August 5th. The Goldman Sachs Group boosted their price target on Agios Pharmaceuticals from $33.00 to $53.00 and gave the stock a neutral rating in a report on Tuesday, June 4th. Finally, Royal Bank of Canada reissued an outperform rating and issued a $55.00 price target on shares of Agios Pharmaceuticals in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $52.50.

Agios Pharmaceuticals Stock Performance

Shares of NASDAQ:AGIO opened at $45.61 on Friday. The stock’s 50-day simple moving average is $45.68 and its two-hundred day simple moving average is $39.81. Agios Pharmaceuticals has a 52-week low of $19.80 and a 52-week high of $53.28. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of -7.22 and a beta of 0.75.

Agios Pharmaceuticals (NASDAQ:AGIO) last posted its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($1.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.09). Agios Pharmaceuticals had a negative net margin of 1,165.69% and a negative return on equity of 47.05%. The company had revenue of $8.60 million for the quarter, compared to analysts’ expectations of $9.34 million. During the same period in the previous year, the firm earned ($1.51) earnings per share. The firm’s quarterly revenue was up 28.4% on a year-over-year basis. As a group, equities analysts forecast that Agios Pharmaceuticals will post -4.85 earnings per share for the current fiscal year.

Insider Transactions at Agios Pharmaceuticals

In other news, CEO Brian Goff sold 11,091 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $42.75, for a total transaction of $474,140.25. Following the sale, the chief executive officer now directly owns 78,792 shares of the company’s stock, valued at approximately $3,368,358. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.93% of the company’s stock.

Hedge Funds Weigh In On Agios Pharmaceuticals

Several large investors have recently modified their holdings of the stock. Caxton Associates LP increased its position in shares of Agios Pharmaceuticals by 0.7% during the 2nd quarter. Caxton Associates LP now owns 37,453 shares of the biopharmaceutical company’s stock valued at $1,615,000 after purchasing an additional 264 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Agios Pharmaceuticals by 0.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,248 shares of the biopharmaceutical company’s stock valued at $1,148,000 after purchasing an additional 314 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of Agios Pharmaceuticals by 1.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 31,144 shares of the biopharmaceutical company’s stock valued at $911,000 after purchasing an additional 540 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Agios Pharmaceuticals during the 2nd quarter valued at approximately $37,000. Finally, Quest Partners LLC bought a new position in shares of Agios Pharmaceuticals during the 2nd quarter valued at approximately $40,000.

About Agios Pharmaceuticals

Agios Pharmaceuticals, Inc, a biopharmaceutical company, discovers and develops medicines in the field of cellular metabolism in the United States. Its lead product includes PYRUKYND (mitapivat), an activator of wild-type and mutant pyruvate kinase (PK), enzymes for the treatment of hemolytic anemias.