Zacks Investment Research upgraded shares of Agios Pharmaceuticals (NASDAQ:AGIO) from a sell rating to a hold rating in a research report released on Wednesday morning, Zacks.com reports. The brokerage currently has $46.00 target price on the biopharmaceutical company’s stock.
According to Zacks, “Agios incurred wider-than-expected loss in the second quarter of 2019 while its revenues beat estimates. The company’s newly approved precision medicine Tibsovo has been performing steadily since its launch. The drug’s label expansion studies are also progressing well with the FDA recently granting a nod in the first-line setting. Agios’ progress with its several pipeline candidates 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 a woe. Stiff competition from big pharma companies is another matter of concern for the company. Shares of the company have underperformed the industry year to date.”
Other equities research analysts also recently issued reports about the company. ValuEngine downgraded Agios Pharmaceuticals from a buy rating to a hold rating in a research note on Thursday, April 18th. BidaskClub raised Agios Pharmaceuticals from a sell rating to a hold rating in a research note on Wednesday. Piper Jaffray Companies reduced their price objective on Agios Pharmaceuticals from $100.00 to $85.00 and set an overweight rating for the company in a research note on Friday, May 3rd. Royal Bank of Canada set a $89.00 price objective on Agios Pharmaceuticals and gave the stock a buy rating in a research note on Friday, August 2nd. Finally, Goldman Sachs Group reissued a neutral rating and issued a $55.00 price objective on shares of Agios Pharmaceuticals in a research note on Thursday, May 23rd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $75.00.
Shares of Agios Pharmaceuticals stock opened at $42.40 on Wednesday. The stock has a 50-day moving average price of $45.28 and a 200 day moving average price of $53.67. The company has a debt-to-equity ratio of 0.21, a current ratio of 5.96 and a quick ratio of 5.91. Agios Pharmaceuticals has a 1 year low of $38.62 and a 1 year high of $85.00.
Agios Pharmaceuticals (NASDAQ:AGIO) last announced its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($1.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.70) by ($0.17). The business had revenue of $26.22 million during the quarter, compared to analysts’ expectations of $27.05 million. Agios Pharmaceuticals had a negative return on equity of 59.89% and a negative net margin of 383.05%. The firm’s revenue was down 35.1% on a year-over-year basis. During the same period in the prior year, the company posted ($1.19) earnings per share. On average, equities analysts forecast that Agios Pharmaceuticals will post -7.25 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of AGIO. NumerixS Investment Technologies Inc acquired a new position in Agios Pharmaceuticals in the 2nd quarter worth about $35,000. US Bancorp DE increased its holdings in shares of Agios Pharmaceuticals by 82.6% during the 2nd quarter. US Bancorp DE now owns 1,010 shares of the biopharmaceutical company’s stock valued at $50,000 after acquiring an additional 457 shares during the last quarter. ETF Managers Group LLC increased its holdings in shares of Agios Pharmaceuticals by 63.0% during the 2nd quarter. ETF Managers Group LLC now owns 2,851 shares of the biopharmaceutical company’s stock valued at $142,000 after acquiring an additional 1,102 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Agios Pharmaceuticals by 27.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,666 shares of the biopharmaceutical company’s stock valued at $183,000 after acquiring an additional 779 shares during the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in shares of Agios Pharmaceuticals by 481.6% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 3,280 shares of the biopharmaceutical company’s stock valued at $221,000 after acquiring an additional 2,716 shares during the last quarter.
Agios Pharmaceuticals Company Profile
Agios Pharmaceuticals, Inc is a biopharmaceutical company, which engages in the discovery and development of novel investigational medicines to treat cancer and rare genetic diseases. It focuses on diseases that are directly caused by changes in genes or chromosomes, often passed from one generation to the next.
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