Scotiabank Forecasts Strong Price Appreciation for Agios Pharmaceuticals (NASDAQ:AGIO) Stock

Agios Pharmaceuticals (NASDAQ:AGIO) had its target price lifted by investment analysts at Scotiabank from $51.00 to $53.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “sector outperform” rating on the biopharmaceutical company’s stock. Scotiabank’s price target indicates a potential upside of 18.12% from the company’s current price.

Other equities analysts have also issued reports about the company. Leerink Partnrs lowered Agios Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 27th. StockNews.com upgraded shares of Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Raymond James reaffirmed an “outperform” rating and issued a $51.00 target price on shares of Agios Pharmaceuticals in a research note on Thursday, October 10th. Royal Bank of Canada reissued an “outperform” rating and set a $55.00 price target on shares of Agios Pharmaceuticals in a research report on Thursday, September 19th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Agios Pharmaceuticals in a research report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $52.33.

Agios Pharmaceuticals Stock Performance

Shares of Agios Pharmaceuticals stock 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. The company has a fifty day moving average of $44.62 and a 200-day moving average of $42.13. Agios Pharmaceuticals has a 52-week low of $20.40 and a 52-week high of $53.28.

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

Insider Activity

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

Institutional Investors Weigh In On Agios Pharmaceuticals

Several hedge funds have recently bought and sold shares of AGIO. Caxton Associates LP boosted its position in shares of Agios Pharmaceuticals by 0.7% in the 2nd quarter. Caxton Associates LP now owns 37,453 shares of the biopharmaceutical company’s stock worth $1,615,000 after purchasing an additional 264 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Agios Pharmaceuticals by 0.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,248 shares of the biopharmaceutical company’s stock worth $1,148,000 after acquiring an additional 314 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of Agios Pharmaceuticals by 1.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 31,144 shares of the biopharmaceutical company’s stock worth $911,000 after acquiring an additional 540 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Agios Pharmaceuticals in the second quarter worth $37,000. Finally, Quest Partners LLC bought a new position in shares of Agios Pharmaceuticals during the second quarter valued at $40,000.

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.