Agios Pharmaceuticals (NASDAQ:AGIO) Earns “Outperform” Rating from Royal Bank of Canada

Agios Pharmaceuticals (NASDAQ:AGIO)‘s stock had its “outperform” rating reissued by equities research analysts at Royal Bank of Canada in a note issued to investors on Friday, Benzinga reports. They currently have a $55.00 price target on the biopharmaceutical company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 22.58% from the company’s current price.

A number of other research analysts also recently commented on the stock. Scotiabank increased their price target on shares of Agios Pharmaceuticals from $51.00 to $53.00 and gave the company a “sector outperform” rating in a report on Friday. Leerink Partnrs cut Agios Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Friday, September 27th. Leerink Partners lowered Agios Pharmaceuticals from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $60.00 to $56.00 in a report on Friday, September 27th. StockNews.com raised shares of Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, Raymond James reiterated an “outperform” rating and set a $51.00 price objective on shares of Agios Pharmaceuticals in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Agios Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $52.33.

Agios Pharmaceuticals Price Performance

Shares of AGIO opened at $44.87 on Friday. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of -6.90, a price-to-earnings-growth ratio of 0.47 and a beta of 0.75. Agios Pharmaceuticals has a 1 year low of $20.40 and a 1 year high of $53.28. The business’s 50 day simple moving average is $44.62 and its 200-day simple moving average is $42.13.

Agios Pharmaceuticals (NASDAQ:AGIO) last released its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.09). Agios Pharmaceuticals had a negative net margin of 1,165.69% and a negative return on equity of 47.05%. The business had revenue of $8.60 million for the quarter, compared to analysts’ expectations of $9.34 million. During the same period in the previous year, the company earned ($1.51) EPS. Agios Pharmaceuticals’s revenue for the quarter was up 28.4% compared to the same quarter last year. On average, sell-side analysts expect that Agios Pharmaceuticals will post 7.54 earnings per share for the current year.

Insider Activity at Agios Pharmaceuticals

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

Hedge Funds Weigh In On Agios Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of AGIO. Farallon Capital Management LLC lifted its holdings in Agios Pharmaceuticals by 34.1% during the first quarter. Farallon Capital Management LLC now owns 5,590,602 shares of the biopharmaceutical company’s stock worth $163,469,000 after buying an additional 1,423,000 shares during the period. Marshall Wace LLP boosted its position in Agios Pharmaceuticals by 307.8% during the second quarter. Marshall Wace LLP now owns 1,133,735 shares of the biopharmaceutical company’s stock valued at $48,887,000 after purchasing an additional 855,739 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Agios Pharmaceuticals by 23.9% in the first 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 purchasing an additional 388,381 shares during the last quarter. Frazier Life Sciences Management L.P. raised its holdings in Agios Pharmaceuticals by 66.7% in the second quarter. Frazier Life Sciences Management L.P. now owns 871,974 shares of the biopharmaceutical company’s stock worth $37,600,000 after purchasing an additional 348,808 shares in the last quarter. Finally, Candriam S.C.A. bought a new position in Agios Pharmaceuticals in the second quarter worth about $13,922,000.

Agios Pharmaceuticals Company Profile

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.