Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) Rating Lowered to Hold at BidaskClub

Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, August 9th.

AGIO has been the topic of several other reports. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $80.00 price target (up from $68.00) on shares of Agios Pharmaceuticals in a report on Tuesday, August 8th. Oppenheimer Holdings, Inc. set a $75.00 price target on Agios Pharmaceuticals and gave the stock a “buy” rating in a report on Sunday, June 11th. Credit Suisse Group reiterated an “outperform” rating and issued a $61.00 price target on shares of Agios Pharmaceuticals in a report on Tuesday, April 18th. Janney Montgomery Scott restated a “hold” rating on shares of Agios Pharmaceuticals in a report on Tuesday, August 1st. Finally, Zacks Investment Research upgraded Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, April 28th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $74.75.

Agios Pharmaceuticals (NASDAQ:AGIO) opened at 55.09 on Wednesday. Agios Pharmaceuticals has a one year low of $35.84 and a one year high of $67.74. The stock’s market capitalization is $2.67 billion. The company’s 50 day moving average price is $57.25 and its 200-day moving average price is $52.43.

Agios Pharmaceuticals (NASDAQ:AGIO) last issued its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.78) earnings per share for the quarter, missing the consensus estimate of ($1.57) by $0.21. Agios Pharmaceuticals had a negative return on equity of 68.15% and a negative net margin of 502.12%. The business had revenue of $11.30 million during the quarter, compared to analysts’ expectations of $10.68 million. During the same quarter in the previous year, the company posted ($1.47) earnings per share. The company’s quarterly revenue was up 62.1% compared to the same quarter last year. Analysts expect that Agios Pharmaceuticals will post ($7.07) earnings per share for the current year.

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In other Agios Pharmaceuticals news, Director Lewis Clayton Jr. Cantley sold 2,036 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $47.10, for a total transaction of $95,895.60. Following the sale, the director now owns 91,206 shares of the company’s stock, valued at approximately $4,295,802.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David P. Schenkein sold 3,000 shares of the stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $50.02, for a total value of $150,060.00. Following the sale, the chief executive officer now directly owns 1,100 shares in the company, valued at approximately $55,022. The disclosure for this sale can be found here. Insiders have sold a total of 79,120 shares of company stock worth $4,557,207 in the last ninety days. Insiders own 10.55% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. FMR LLC boosted its stake in Agios Pharmaceuticals by 14.1% in the second quarter. FMR LLC now owns 7,227,331 shares of the biopharmaceutical company’s stock worth $371,846,000 after buying an additional 895,584 shares during the last quarter. Vanguard Group Inc. boosted its stake in Agios Pharmaceuticals by 23.8% in the second quarter. Vanguard Group Inc. now owns 3,214,770 shares of the biopharmaceutical company’s stock worth $165,401,000 after buying an additional 617,379 shares during the last quarter. Capital International Investors boosted its stake in Agios Pharmaceuticals by 11.6% in the second quarter. Capital International Investors now owns 3,129,837 shares of the biopharmaceutical company’s stock worth $161,030,000 after buying an additional 325,310 shares during the last quarter. BB Biotech AG boosted its stake in Agios Pharmaceuticals by 1.1% in the second quarter. BB Biotech AG now owns 2,869,528 shares of the biopharmaceutical company’s stock worth $147,637,000 after buying an additional 30,000 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in Agios Pharmaceuticals by 23.5% in the second quarter. BlackRock Inc. now owns 2,675,380 shares of the biopharmaceutical company’s stock worth $137,648,000 after buying an additional 508,306 shares during the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

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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