Agios Pharmaceuticals Inc (NASDAQ:AGIO) has been given a $90.00 price objective by equities researchers at Canaccord Genuity in a note issued to investors on Thursday, May 4th. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity’s price target indicates a potential upside of 73.24% from the stock’s current price.
Several other research firms have also commented on AGIO. Oppenheimer Holdings Inc. raised Agios Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $75.00 price target for the company in a research report on Tuesday, January 17th. Cowen and Company reissued a “buy” rating on shares of Agios Pharmaceuticals in a research report on Thursday, February 16th. Janney Montgomery Scott raised Agios Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Thursday, February 16th. CIBC raised Agios Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 17th. Finally, Credit Suisse Group AG reissued an “outperform” rating and issued a $61.00 price target on shares of Agios Pharmaceuticals in a research report on Tuesday, April 18th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $63.34.
Agios Pharmaceuticals (NASDAQ:AGIO) traded down 2.33% during mid-day trading on Thursday, hitting $50.74. 182,385 shares of the stock traded hands. Agios Pharmaceuticals has a 1-year low of $35.84 and a 1-year high of $67.74. The firm’s market capitalization is $2.45 billion. The company has a 50-day moving average of $51.72 and a 200 day moving average of $50.44.
Agios Pharmaceuticals (NASDAQ:AGIO) last issued its earnings results on Thursday, May 4th. The biopharmaceutical company reported ($1.56) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.80) by $0.24. Agios Pharmaceuticals had a negative return on equity of 53.39% and a negative net margin of 341.56%. The business had revenue of $10.51 million during the quarter, compared to analysts’ expectations of $9.65 million. During the same period in the prior year, the business earned ($0.64) EPS. The business’s revenue for the quarter was down 66.4% compared to the same quarter last year. On average, equities research analysts anticipate that Agios Pharmaceuticals will post ($6.44) EPS for the current year.
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In related news, major shareholder Celgene European Investment Co bought 624,575 shares of the stock in a transaction dated Monday, April 24th. The shares were purchased at an average price of $49.50 per share, for a total transaction of $30,916,462.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David P. Schenkein sold 3,000 shares of the company’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $58.62, for a total value of $175,860.00. Following the completion of the sale, the chief executive officer now owns 3,000 shares in the company, valued at approximately $175,860. The disclosure for this sale can be found here. Insiders sold 442,791 shares of company stock worth $22,047,508 over the last three months. Corporate insiders own 10.55% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. C WorldWide Group Holding A S bought a new stake in shares of Agios Pharmaceuticals during the first quarter worth approximately $105,000. Bank of Montreal Can increased its position in shares of Agios Pharmaceuticals by 11.7% in the first quarter. Bank of Montreal Can now owns 2,068 shares of the biopharmaceutical company’s stock worth $121,000 after buying an additional 216 shares in the last quarter. Blue Sky Asset Management LLC acquired a new position in shares of Agios Pharmaceuticals during the first quarter worth about $129,000. Russell Investments Group Ltd. increased its position in shares of Agios Pharmaceuticals by 163.9% in the first quarter. Russell Investments Group Ltd. now owns 2,549 shares of the biopharmaceutical company’s stock worth $149,000 after buying an additional 1,583 shares in the last quarter. Finally, Advantage Investment Management LLC increased its position in shares of Agios Pharmaceuticals by 109.7% in the first quarter. Advantage Investment Management LLC now owns 3,250 shares of the biopharmaceutical company’s stock worth $190,000 after buying an additional 1,700 shares in the last quarter. Hedge funds and other institutional investors own 88.79% of the company’s stock.
About Agios Pharmaceuticals
Agios Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company’s therapeutic areas of focus are cancer and rare genetic metabolic disorders, which are a group of over 600 rare genetic diseases caused by mutations, or defects, of single metabolic genes. The Company’s cancer product candidates are enasidenib and ivosidenib (AG-120), which target mutated isocitrate dehydrogenase 2 (IDH2) and isocitrate dehydrogenase 1 (IDH1), respectively, and AG-881, which targets both mutated IDH1 and mutated IDH2.
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