Credit Suisse Group Boosts Agios Pharmaceuticals, Inc. (AGIO) Price Target to $66.00

Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) had its target price raised by equities researchers at Credit Suisse Group from $61.00 to $66.00 in a research note issued to investors on Thursday. The brokerage presently has an “outperform” rating on the biopharmaceutical company’s stock. Credit Suisse Group’s price target would indicate a potential upside of 2.69% from the stock’s previous close.

Several other analysts also recently weighed in on the company. SunTrust Banks, Inc. restated a “buy” rating and issued a $80.00 price target on shares of Agios Pharmaceuticals in a research note on Wednesday, October 4th. J P Morgan Chase & Co restated a “buy” rating and issued a $76.00 price target on shares of Agios Pharmaceuticals in a research note on Monday, September 18th. Royal Bank Of Canada began coverage on Agios Pharmaceuticals in a research note on Thursday, September 14th. They issued an “outperform” rating and a $78.00 price target on the stock. ValuEngine upgraded Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $83.00 price target (up previously from $75.00) on shares of Agios Pharmaceuticals in a research note on Thursday, August 10th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Agios Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $75.70.

Agios Pharmaceuticals (NASDAQ:AGIO) last posted its quarterly earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($1.59) earnings per share for the quarter, topping the consensus estimate of ($1.78) by $0.19. The company had revenue of $11.35 million for the quarter, compared to the consensus estimate of $10.85 million. Agios Pharmaceuticals had a negative return on equity of 68.15% and a negative net margin of 502.12%. The firm’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.63) EPS.

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In other Agios Pharmaceuticals news, Director Lewis Clayton Jr. Cantley sold 4,000 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $56.85, for a total transaction of $227,400.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Scott Biller sold 2,146 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $61.99, for a total value of $133,030.54. Following the sale, the insider now owns 8,410 shares in the company, valued at $521,335.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 170,762 shares of company stock worth $11,630,086. Company insiders own 10.55% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its stake in shares of Agios Pharmaceuticals by 163.9% in the 1st 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 during the last quarter. QS Investors LLC purchased a new position in shares of Agios Pharmaceuticals in the 2nd quarter worth $144,000. S&CO Inc. purchased a new position in shares of Agios Pharmaceuticals in the 3rd quarter worth $227,000. Cubist Systematic Strategies LLC boosted its stake in shares of Agios Pharmaceuticals by 1,041.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,423 shares of the biopharmaceutical company’s stock worth $176,000 after buying an additional 3,123 shares during the last quarter. Finally, Aperio Group LLC purchased a new position in shares of Agios Pharmaceuticals in the 2nd quarter worth $206,000. Hedge funds and other institutional investors own 93.46% 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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