Agios Pharmaceuticals (NASDAQ:AGIO) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Agios Pharmaceuticals (NASDAQ:AGIO) had its price objective hoisted by Royal Bank of Canada from $55.00 to $57.00 in a research note released on Tuesday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the biopharmaceutical company’s stock.

AGIO has been the subject of several other research reports. Leerink Partners cut shares of Agios Pharmaceuticals from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $60.00 to $56.00 in a research note on Friday, September 27th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Agios Pharmaceuticals in a research note on Friday, September 20th. StockNews.com upgraded Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Leerink Partnrs cut Agios Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, Raymond James reaffirmed an “outperform” rating and set a $51.00 price objective on shares of Agios Pharmaceuticals in a research report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $56.33.

Agios Pharmaceuticals Price Performance

AGIO stock opened at $46.02 on Tuesday. The business’s fifty day moving average price is $50.09 and its two-hundred day moving average price is $46.68. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 4.05 and a beta of 0.80. Agios Pharmaceuticals has a fifty-two week low of $20.96 and a fifty-two week high of $62.58.

Insiders Place Their Bets

In related news, CFO Cecilia Jones sold 2,542 shares of Agios Pharmaceuticals stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $49.03, for a total transaction of $124,634.26. Following the sale, the chief financial officer now directly owns 20,158 shares in the company, valued at approximately $988,346.74. This trade represents a 11.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 4.93% of the company’s stock.

Institutional Investors Weigh In On Agios Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. D. E. Shaw & Co. Inc. grew its holdings in shares of Agios Pharmaceuticals by 87.3% during the second 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. Vestal Point Capital LP purchased a new position in Agios Pharmaceuticals in the 3rd quarter worth approximately $33,767,000. Seven Eight Capital LP bought a new position in shares of Agios Pharmaceuticals in the 2nd quarter worth $1,693,000. Edgestream Partners L.P. bought a new position in shares of Agios Pharmaceuticals in the 2nd quarter worth $1,814,000. Finally, Farallon Capital Management LLC raised its position in shares of Agios Pharmaceuticals by 1.1% during the 2nd quarter. Farallon Capital Management LLC now owns 5,654,502 shares of the biopharmaceutical company’s stock valued at $243,822,000 after buying an additional 63,900 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.