Agios Pharmaceuticals (NASDAQ:AGIO) Receives Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Agios Pharmaceuticals (NASDAQ:AGIO) in a report published on Friday morning, Benzinga reports. The firm currently has a $55.00 price objective on the biopharmaceutical company’s stock.

Several other research firms have also recently issued reports on AGIO. StockNews.com raised shares of Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Leerink Partnrs lowered Agios Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Friday, September 27th. Cantor Fitzgerald reissued an “overweight” rating on shares of Agios Pharmaceuticals in a report on Friday, September 20th. Scotiabank increased their price target on Agios Pharmaceuticals from $51.00 to $53.00 and gave the stock a “sector outperform” rating in a research note on Friday. Finally, Leerink Partners lowered shares of Agios Pharmaceuticals from an “outperform” rating to a “market perform” rating and cut their target price for the company from $60.00 to $56.00 in a research note on Friday, September 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $52.33.

Agios Pharmaceuticals Price Performance

AGIO traded up $0.44 during midday trading on Friday, reaching $44.87. 672,853 shares of the company’s stock were exchanged, compared to its average volume of 689,661. Agios Pharmaceuticals has a 1-year low of $20.40 and a 1-year high of $53.28. The stock has a market capitalization of $2.55 billion, a PE ratio of -6.90, a P/E/G ratio of 0.47 and a beta of 0.75. The business’s 50-day moving average price is $44.62 and its 200 day moving average price is $42.13.

Agios Pharmaceuticals (NASDAQ:AGIO) last announced its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.69) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $8.60 million during the quarter, compared to analyst estimates of $9.34 million. During the same period in the previous year, the firm posted ($1.51) EPS. The company’s revenue for the quarter was up 28.4% compared to the same quarter last year. As a group, analysts expect that Agios Pharmaceuticals will post 7.54 EPS for the current fiscal year.

Insider Activity at Agios Pharmaceuticals

In other Agios Pharmaceuticals 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 completion of the sale, the chief executive officer now owns 78,792 shares of the company’s stock, valued at $3,368,358. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Cecilia Jones sold 2,542 shares of Agios Pharmaceuticals stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $49.03, for a total transaction of $124,634.26. Following the sale, the chief financial officer now owns 20,158 shares of the company’s stock, valued at approximately $988,346.74. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian Goff sold 11,091 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $42.75, for a total transaction of $474,140.25. Following the completion of the sale, the chief executive officer now directly owns 78,792 shares in the company, valued at approximately $3,368,358. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.93% of the stock is owned by company insiders.

Hedge Funds Weigh In On Agios Pharmaceuticals

A number of hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC bought a new stake in Agios Pharmaceuticals in the second quarter valued at $37,000. Quest Partners LLC bought a new stake in shares of Agios Pharmaceuticals in the 2nd quarter worth about $40,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Agios Pharmaceuticals by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,058 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 363 shares in the last quarter. CWM LLC lifted its holdings in Agios Pharmaceuticals by 554.7% during the 3rd quarter. CWM LLC now owns 2,167 shares of the biopharmaceutical company’s stock valued at $96,000 after purchasing an additional 1,836 shares during the last quarter. Finally, North Star Asset Management Inc. acquired a new position in Agios Pharmaceuticals in the second quarter valued at about $216,000.

Agios Pharmaceuticals Company Profile

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.