Royal Bank of Canada Raises Agios Pharmaceuticals (AGIO) Price Target to $90.00

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Agios Pharmaceuticals (NASDAQ:AGIO) had its price objective hoisted by Royal Bank of Canada to $90.00 in a research report report published on Thursday, The Fly reports.

A number of other research analysts have also commented on the company. Cowen reaffirmed a buy rating on shares of Agios Pharmaceuticals in a report on Thursday. BidaskClub lowered Agios Pharmaceuticals from a sell rating to a strong sell rating in a report on Thursday, May 9th. Piper Jaffray Companies decreased their price objective on Agios Pharmaceuticals from $100.00 to $85.00 and set an overweight rating on the stock in a report on Friday, May 3rd. Zacks Investment Research lowered Agios Pharmaceuticals from a hold rating to a sell rating in a report on Thursday, April 25th. Finally, ValuEngine lowered Agios Pharmaceuticals from a buy rating to a hold rating in a report on Thursday, April 18th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. Agios Pharmaceuticals presently has an average rating of Hold and a consensus price target of $95.00.

Shares of AGIO stock traded up $0.91 during trading on Thursday, reaching $50.65. 14,963 shares of the company’s stock were exchanged, compared to its average volume of 596,074. The company has a current ratio of 6.89, a quick ratio of 6.86 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $2.78 billion, a PE ratio of -8.40 and a beta of 2.25. Agios Pharmaceuticals has a twelve month low of $41.63 and a twelve month high of $99.82.

Agios Pharmaceuticals (NASDAQ:AGIO) last issued its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($1.59) EPS for the quarter, beating analysts’ consensus estimates of ($1.74) by $0.15. Agios Pharmaceuticals had a negative return on equity of 48.19% and a negative net margin of 300.63%. The firm had revenue of $30.20 million for the quarter, compared to analyst estimates of $22.69 million. During the same period in the prior year, the firm posted ($1.63) EPS. The company’s revenue for the quarter was up 243.2% on a year-over-year basis. As a group, sell-side analysts predict that Agios Pharmaceuticals will post -6.76 EPS for the current fiscal year.

In other news, insider Christopher Bowden sold 10,000 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $64.16, for a total transaction of $641,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott Biller sold 3,000 shares of the company’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $67.71, for a total value of $203,130.00. Following the sale, the insider now owns 29,511 shares of the company’s stock, valued at $1,998,189.81. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,000 shares of company stock valued at $2,765,530. Corporate insiders own 3.16% of the company’s stock.

Several large investors have recently added to or reduced their stakes in AGIO. BB Biotech AG lifted its position in shares of Agios Pharmaceuticals by 30.9% during the 4th quarter. BB Biotech AG now owns 2,878,134 shares of the biopharmaceutical company’s stock valued at $132,711,000 after acquiring an additional 680,203 shares during the period. First Trust Advisors LP lifted its position in shares of Agios Pharmaceuticals by 31.4% during the 1st quarter. First Trust Advisors LP now owns 1,774,158 shares of the biopharmaceutical company’s stock valued at $119,649,000 after acquiring an additional 423,931 shares during the period. Norges Bank bought a new stake in shares of Agios Pharmaceuticals during the 4th quarter valued at $19,267,000. Westfield Capital Management Co. LP bought a new stake in shares of Agios Pharmaceuticals during the 1st quarter valued at $23,110,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of Agios Pharmaceuticals by 24.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,636,073 shares of the biopharmaceutical company’s stock valued at $110,337,000 after acquiring an additional 320,626 shares during the period. Hedge funds and other institutional investors own 98.63% 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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