Raymond James Reiterates “Outperform” Rating for Agios Pharmaceuticals (NASDAQ:AGIO)

Agios Pharmaceuticals (NASDAQ:AGIO)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Raymond James in a report released on Thursday, Marketbeat.com reports. They currently have a $51.00 price objective on the biopharmaceutical company’s stock. Raymond James’ price objective would indicate a potential upside of 19.58% from the company’s previous close.

A number of other brokerages have also recently commented on AGIO. Cantor Fitzgerald restated an “overweight” rating on shares of Agios Pharmaceuticals in a research note on Friday, September 20th. Royal Bank of Canada restated an “outperform” rating and set a $55.00 price target on shares of Agios Pharmaceuticals in a research note on Thursday, September 19th. Leerink Partnrs cut shares of Agios Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 27th. StockNews.com cut shares of Agios Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $46.00 price target on shares of Agios Pharmaceuticals in a research note on Thursday, June 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Agios Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $52.20.

Agios Pharmaceuticals Stock Performance

Shares of AGIO opened at $42.65 on Thursday. The company has a 50-day simple moving average of $44.59 and a 200-day simple moving average of $40.50. The firm has a market capitalization of $2.43 billion, a P/E ratio of -6.56 and a beta of 0.75. Agios Pharmaceuticals has a 52 week low of $19.80 and a 52 week high of $53.28.

Agios Pharmaceuticals (NASDAQ:AGIO) last announced its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($1.69) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.09). The company had revenue of $8.60 million for the quarter, compared to analyst estimates 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 firm’s quarterly revenue was up 28.4% on a year-over-year basis. During the same period in the prior year, the company posted ($1.51) EPS. As a group, equities analysts forecast that Agios Pharmaceuticals will post -4.87 earnings per share for the current year.

Insider Transactions at Agios Pharmaceuticals

In other news, CEO Brian Goff sold 11,091 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 78,792 shares of the company’s stock, valued at approximately $3,368,358. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Cecilia Jones sold 2,542 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were 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 owns 20,158 shares of the company’s stock, valued at $988,346.74. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brian Goff sold 11,091 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 78,792 shares of the company’s stock, valued at approximately $3,368,358. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.93% of the company’s stock.

Institutional Trading of Agios Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nordea Investment Management AB increased its holdings 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 valued at $7,824,000 after purchasing an additional 30,764 shares in the last quarter. Frazier Life Sciences Management L.P. boosted its stake in Agios Pharmaceuticals by 79.2% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 523,166 shares of the biopharmaceutical company’s stock valued at $11,651,000 after acquiring an additional 231,164 shares during the last quarter. Caxton Associates LP bought a new position in Agios Pharmaceuticals in the first quarter valued at approximately $1,087,000. Vanguard Group Inc. boosted its stake in Agios Pharmaceuticals by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 5,527,438 shares of the biopharmaceutical company’s stock valued at $123,096,000 after acquiring an additional 59,851 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its stake in Agios Pharmaceuticals by 87.3% in the second quarter. D. E. Shaw & Co. Inc. now owns 678,234 shares of the biopharmaceutical company’s stock valued at $29,245,000 after acquiring an additional 316,100 shares during 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.