Agios Pharmaceuticals (NASDAQ:AGIO) Coverage Initiated at Scotiabank

Scotiabank initiated coverage on shares of Agios Pharmaceuticals (NASDAQ:AGIO) in a research report released on Wednesday morning, Marketbeat Ratings reports. The firm issued a sector outperform rating and a $51.00 price objective on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently commented on AGIO. Raymond James reaffirmed an “outperform” rating and issued a $51.00 price target on shares of Agios Pharmaceuticals in a report on Thursday, October 10th. Leerink Partnrs lowered shares of Agios Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 27th. StockNews.com lowered Agios Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. Royal Bank of Canada reissued an “outperform” rating and set a $55.00 price objective on shares of Agios Pharmaceuticals in a research report on Thursday, September 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Agios Pharmaceuticals in a research report on Friday, September 20th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $52.00.

Agios Pharmaceuticals Trading Up 3.1 %

Shares of AGIO stock opened at $45.50 on Wednesday. Agios Pharmaceuticals has a 12-month low of $19.80 and a 12-month high of $53.28. The business’s 50 day moving average is $44.62 and its two-hundred day moving average is $41.08. The company has a market capitalization of $2.58 billion, a P/E ratio of -7.20 and a beta of 0.75.

Agios Pharmaceuticals (NASDAQ:AGIO) last posted its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($1.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.09). Agios Pharmaceuticals had a negative return on equity of 47.05% and a negative net margin of 1,165.69%. The company had revenue of $8.60 million for the quarter, compared to analyst estimates of $9.34 million. During the same quarter in the prior year, the company posted ($1.51) earnings per share. The business’s revenue was up 28.4% on a year-over-year basis. On average, research analysts predict that Agios Pharmaceuticals will post -4.87 earnings per share for the current fiscal year.

Insider Activity

In other Agios Pharmaceuticals news, CFO Cecilia Jones sold 2,542 shares of Agios Pharmaceuticals stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $49.03, for a total transaction of $124,634.26. Following the completion of the sale, the chief financial officer now directly owns 20,158 shares of the company’s stock, valued at $988,346.74. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Agios Pharmaceuticals news, CEO Brian Goff sold 11,091 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $42.75, for a total transaction of $474,140.25. Following the completion of the transaction, the chief executive officer now owns 78,792 shares in the company, valued at approximately $3,368,358. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Cecilia Jones sold 2,542 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $49.03, for a total transaction of $124,634.26. Following the completion of the transaction, the chief financial officer now owns 20,158 shares of the company’s stock, valued at $988,346.74. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.93% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AGIO. Nordea Investment Management AB boosted its position in shares of Agios Pharmaceuticals by 13.0% in the first quarter. Nordea Investment Management AB now owns 266,588 shares of the biopharmaceutical company’s stock worth $7,824,000 after buying an additional 30,764 shares during the period. Caxton Associates LP bought a new stake in Agios Pharmaceuticals in the first quarter worth about $1,087,000. Vanguard Group Inc. boosted its stake in shares of Agios Pharmaceuticals by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 5,527,438 shares of the biopharmaceutical company’s stock worth $123,096,000 after acquiring an additional 59,851 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in Agios Pharmaceuticals by 87.3% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 678,234 shares of the biopharmaceutical company’s stock worth $29,245,000 after purchasing an additional 316,100 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Agios Pharmaceuticals by 23.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,012,993 shares of the biopharmaceutical company’s stock valued at $58,861,000 after acquiring an additional 388,381 shares in the last quarter.

About Agios Pharmaceuticals

Agios Pharmaceuticals, Inc, a biopharmaceutical company, discovers and develops medicines in the field of cellular metabolism in the United States. Its lead product includes PYRUKYND (mitapivat), an activator of wild-type and mutant pyruvate kinase (PK), enzymes for the treatment of hemolytic anemias.