Agios Pharmaceuticals (AGIO) Sees Unusually-High Trading Volume After Analyst Upgrade

Agios Pharmaceuticals Inc (NASDAQ:AGIO) shares saw unusually-strong trading volume on Friday after Royal Bank of Canada raised their price target on the stock to $91.00. Royal Bank of Canada currently has an outperform rating on the stock. Approximately 4,119,632 shares changed hands during mid-day trading, an increase of 325% from the previous session’s volume of 969,146 shares.The stock last traded at $69.89 and had previously closed at $68.15.

Other equities research analysts have also recently issued research reports about the stock. Cann reiterated a “buy” rating on shares of Agios Pharmaceuticals in a research note on Tuesday, December 5th. BidaskClub cut shares of Agios Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, December 16th. Oppenheimer set a $83.00 target price on shares of Agios Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, November 17th. SunTrust Banks set a $80.00 target price on shares of Agios Pharmaceuticals and gave the company a “buy” rating in a research note on Sunday, November 19th. Finally, Credit Suisse Group increased their target price on shares of Agios Pharmaceuticals from $61.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, November 2nd. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $77.64.

In other Agios Pharmaceuticals news, insider Scott Biller sold 2,146 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $62.69, for a total transaction of $134,532.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David P. Schenkein sold 53,000 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $73.16, for a total transaction of $3,877,480.00. Following the transaction, the chief executive officer now owns 53,000 shares of the company’s stock, valued at approximately $3,877,480. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,130 shares of company stock valued at $5,561,250. 5.43% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. QS Investors LLC bought a new position in Agios Pharmaceuticals during the second quarter worth about $144,000. State of Alaska Department of Revenue bought a new position in Agios Pharmaceuticals during the fourth quarter worth about $160,000. Cubist Systematic Strategies LLC raised its stake in shares of Agios Pharmaceuticals by 1,041.0% in the second quarter. Cubist Systematic Strategies LLC now owns 3,423 shares of the biopharmaceutical company’s stock valued at $176,000 after acquiring an additional 3,123 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Agios Pharmaceuticals by 74.8% in the fourth quarter. Bank of Montreal Can now owns 3,551 shares of the biopharmaceutical company’s stock valued at $203,000 after acquiring an additional 1,520 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new position in shares of Agios Pharmaceuticals in the third quarter valued at approximately $225,000. Hedge funds and other institutional investors own 94.32% of the company’s stock.

The company has a market capitalization of $3,480.00, a P/E ratio of -11.15 and a beta of 1.83.

Agios Pharmaceuticals (NASDAQ:AGIO) last posted its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($1.59) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.78) by $0.19. Agios Pharmaceuticals had a negative net margin of 506.39% and a negative return on equity of 69.64%. The company had revenue of $11.35 million during the quarter, compared to analysts’ expectations of $10.85 million. During the same quarter in the previous year, the company posted ($1.63) earnings per share. Agios Pharmaceuticals’s quarterly revenue was up 26.4% compared to the same quarter last year. equities research analysts predict that Agios Pharmaceuticals Inc will post -6.59 EPS for the current year.

ILLEGAL ACTIVITY WARNING: “Agios Pharmaceuticals (AGIO) Sees Unusually-High Trading Volume After Analyst Upgrade” was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece of content on another website, it was illegally stolen and reposted in violation of US and international trademark & copyright legislation. The original version of this piece of content can be read at https://ledgergazette.com/2018/01/19/agios-pharmaceuticals-agio-sees-unusually-high-trading-volume-after-analyst-upgrade.html.

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.

Receive News & Ratings for Agios Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Agios Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply