Scotiabank Begins Coverage on Agios Pharmaceuticals (NASDAQ:AGIO)

Research analysts at Scotiabank initiated coverage on shares of Agios Pharmaceuticals (NASDAQ:AGIO) in a report released on Wednesday, Briefing.com reports. The firm set a “sector outperform” rating on the biopharmaceutical company’s stock.

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada restated an “outperform” rating and set a $55.00 target price on shares of Agios Pharmaceuticals in a report on Thursday, September 19th. Leerink Partnrs downgraded shares of Agios Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Friday, September 27th. StockNews.com downgraded shares of Agios Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, August 5th. Raymond James restated an “outperform” rating and set a $51.00 target price on shares of Agios Pharmaceuticals in a report on Thursday, October 10th. Finally, Leerink Partners downgraded shares of Agios Pharmaceuticals from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $60.00 to $56.00 in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. 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 Up 1.8 %

Shares of AGIO opened at $42.04 on Wednesday. The company has a 50-day simple moving average of $44.55 and a 200-day simple moving average of $40.83. The company has a market capitalization of $2.39 billion, a PE ratio of -6.65 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 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). The company had revenue of $8.60 million during 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 revenue for the quarter was up 28.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.51) EPS. On average, research analysts anticipate that Agios Pharmaceuticals will post -4.87 EPS for the current year.

Insider Buying and Selling

In other Agios Pharmaceuticals news, CFO Cecilia Jones sold 2,542 shares of Agios Pharmaceuticals stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Brian Goff sold 11,091 shares of Agios Pharmaceuticals 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 completion of the sale, the chief executive officer now owns 78,792 shares in the company, valued at approximately $3,368,358. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the sale, the chief financial officer now owns 20,158 shares of the company’s stock, valued at approximately $988,346.74. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.93% of the company’s stock.

Institutional Trading of Agios Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new stake in shares of Agios Pharmaceuticals in the second quarter worth $37,000. Quest Partners LLC bought a new stake in Agios Pharmaceuticals during the second quarter valued at $40,000. CWM LLC increased its stake in Agios Pharmaceuticals by 554.7% during the third quarter. CWM LLC now owns 2,167 shares of the biopharmaceutical company’s stock valued at $96,000 after purchasing an additional 1,836 shares during the last quarter. North Star Asset Management Inc. bought a new stake in Agios Pharmaceuticals during the second quarter valued at $216,000. Finally, XTX Topco Ltd acquired a new position in shares of Agios Pharmaceuticals during the second quarter valued at $230,000.

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.