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.
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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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