Agios Pharmaceuticals (AGIO) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Agios Pharmaceuticals (NASDAQ:AGIO) from a hold rating to a sell rating in a report issued on Thursday, Zacks.com reports.

According to Zacks, “Agios' first wholly owned precision medicine, Tibsovo, was approved by the FDA last July 2018 for treating R/R AML. The drug generated strong sales in the reported quarter. Tibsovo’s label expansion studies also look promising with the FDA recently granting a priority review in first-line setting. Agios’ progress with pipeline candidates, namely AG-348 and AG-881, has been quite impressive too. We are also optimistic about Agios' collaboration with Celgene as it provides the company with regular funds and royalties from Idhifa sales. However, Agios’ heavy dependence on partner Celgene for royalties remains an overhang. Stiff competition from big pharma companies is another matter of concern for the company. Shares have outperformed the industry in the year so far. Loss estimates have widened ahead of Q1 earnings. Agios has a positive record of earnings surprises in the recent quarters.”

A number of other research analysts have also recently commented on the company. BidaskClub cut Agios Pharmaceuticals from a hold rating to a sell rating in a report on Wednesday, April 24th. ValuEngine cut Agios Pharmaceuticals from a buy rating to a hold rating in a report on Thursday, April 18th. Cowen reissued a buy rating on shares of Agios Pharmaceuticals in a report on Wednesday, March 13th. Oppenheimer reaffirmed a market perform rating on shares of Agios Pharmaceuticals in a report on Wednesday, February 20th. Finally, Svb Leerink raised Agios Pharmaceuticals from a market perform rating to an outperform rating and set a $80.00 price objective on the stock in a report on Friday, February 15th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $97.86.

NASDAQ AGIO opened at $56.80 on Thursday. Agios Pharmaceuticals has a 12 month low of $41.63 and a 12 month high of $99.82. The company has a market capitalization of $3.33 billion, a P/E ratio of -9.42 and a beta of 2.38.

Agios Pharmaceuticals (NASDAQ:AGIO) last posted its quarterly earnings results on Thursday, February 14th. The biopharmaceutical company reported ($1.58) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.65) by $0.07. Agios Pharmaceuticals had a negative return on equity of 44.13% and a negative net margin of 366.61%. The company had revenue of $30.00 million for the quarter, compared to analysts’ expectations of $19.98 million. During the same period in the previous year, the firm earned ($1.81) EPS. The firm’s revenue was up 200.0% compared to the same quarter last year. As a group, analysts anticipate that Agios Pharmaceuticals will post -6.73 earnings per share for the current year.

In related news, insider Scott Biller sold 3,000 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $67.71, for a total transaction of $203,130.00. Following the sale, the insider now owns 29,511 shares in the company, valued at approximately $1,998,189.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher Bowden sold 10,000 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $64.16, for a total value of $641,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 42,000 shares of company stock worth $2,765,530 over the last ninety days. Insiders own 3.02% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. ETF Managers Group LLC raised its holdings in Agios Pharmaceuticals by 15.7% during the 4th quarter. ETF Managers Group LLC now owns 1,592 shares of the biopharmaceutical company’s stock valued at $73,000 after buying an additional 216 shares during the period. Advisor Group Inc. raised its holdings in Agios Pharmaceuticals by 33.1% during the 4th quarter. Advisor Group Inc. now owns 1,195 shares of the biopharmaceutical company’s stock valued at $55,000 after buying an additional 297 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Agios Pharmaceuticals by 14.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,457 shares of the biopharmaceutical company’s stock valued at $159,000 after buying an additional 430 shares during the period. Oppenheimer & Co. Inc. raised its holdings in Agios Pharmaceuticals by 0.8% during the 1st quarter. Oppenheimer & Co. Inc. now owns 64,127 shares of the biopharmaceutical company’s stock valued at $4,325,000 after buying an additional 535 shares during the period. Finally, Quantamental Technologies LLC purchased a new stake in Agios Pharmaceuticals during the 4th quarter valued at $28,000. Institutional investors own 98.78% of the company’s stock.

Agios Pharmaceuticals Company Profile

Agios Pharmaceuticals, Inc, a biopharmaceutical company, engages in the discovery and development of medicines in the field of cellular metabolism and adjacent areas of biology for the treatment of cancer and rare genetic diseases. The company offers TIBSOVO (ivosidenib), an oral targeted inhibitor for treating adult patients with relapsed or refractory acute myeloid leukemia (R/R AML), as well as to treat patients with newly diagnosed AML; and IDHIFA, an oral targeted inhibitor for patients with R/R AML and an isocitrate dehydrogenase 2 mutation.

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