Scotiabank Boosts Agios Pharmaceuticals (NASDAQ:AGIO) Price Target to $75.00

Agios Pharmaceuticals (NASDAQ:AGIO) had its price target hoisted by analysts at Scotiabank from $53.00 to $75.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the biopharmaceutical company’s stock. Scotiabank’s price objective would indicate a potential upside of 44.40% from the stock’s current price.

Several other research analysts have also recently issued reports on AGIO. Cantor Fitzgerald reissued an “overweight” rating on shares of Agios Pharmaceuticals in a report on Friday, September 20th. Leerink Partnrs downgraded Agios Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 27th. Raymond James reissued an “outperform” rating and issued a $51.00 price target on shares of Agios Pharmaceuticals in a report on Thursday, October 10th. StockNews.com upgraded shares of Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, Leerink Partners lowered shares of Agios Pharmaceuticals from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $60.00 to $56.00 in a research note on Friday, September 27th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Agios Pharmaceuticals has an average rating of “Hold” and a consensus price target of $56.00.

Agios Pharmaceuticals Price Performance

NASDAQ AGIO traded down $9.70 during trading on Monday, hitting $51.94. The company’s stock had a trading volume of 526,049 shares, compared to its average volume of 691,462. Agios Pharmaceuticals has a fifty-two week low of $20.96 and a fifty-two week high of $62.58. The company has a market cap of $2.96 billion, a PE ratio of 4.57 and a beta of 0.80. The business’s 50 day simple moving average is $49.93 and its 200-day simple moving average is $46.46.

Insiders Place Their Bets

In other news, CFO Cecilia Jones sold 2,542 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 20,158 shares in the company, valued at approximately $988,346.74. This represents a 11.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.93% of the company’s stock.

Hedge Funds Weigh In On Agios Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. Erste Asset Management GmbH acquired a new position in shares of Agios Pharmaceuticals during the third quarter worth about $97,199,000. Marshall Wace LLP increased its holdings in shares of Agios Pharmaceuticals by 307.8% in the 2nd quarter. Marshall Wace LLP now owns 1,133,735 shares of the biopharmaceutical company’s stock valued at $48,887,000 after acquiring an additional 855,739 shares during the period. Vestal Point Capital LP purchased a new stake in Agios Pharmaceuticals in the 3rd quarter valued at $33,767,000. Frazier Life Sciences Management L.P. boosted its stake in Agios Pharmaceuticals by 66.7% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 871,974 shares of the biopharmaceutical company’s stock worth $37,600,000 after purchasing an additional 348,808 shares during the period. Finally, Candriam S.C.A. purchased a new position in Agios Pharmaceuticals during the 2nd quarter worth $13,922,000.

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.