Agios Pharmaceuticals (NASDAQ:AGIO) Stock Rating Reaffirmed by Royal Bank of Canada

Agios Pharmaceuticals (NASDAQ:AGIO)‘s stock had its “outperform” rating reaffirmed by research analysts at Royal Bank of Canada in a research note issued on Thursday, Benzinga reports. They presently have a $55.00 price target on the biopharmaceutical company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 18.15% from the company’s current price.

Several other research firms also recently commented on AGIO. The Goldman Sachs Group lifted their price target on shares of Agios Pharmaceuticals from $33.00 to $53.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 4th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $46.00 price target on shares of Agios Pharmaceuticals in a research note on Thursday, June 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of Agios Pharmaceuticals in a research note on Monday, June 17th. Finally, StockNews.com downgraded shares of Agios Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $51.33.

Agios Pharmaceuticals Price Performance

Shares of AGIO opened at $46.55 on Thursday. The firm’s 50 day simple moving average is $45.69 and its 200 day simple moving average is $39.03. The company has a market capitalization of $2.64 billion, a P/E ratio of -7.50 and a beta of 0.75. Agios Pharmaceuticals has a 1-year low of $19.80 and a 1-year high of $50.35.

Agios Pharmaceuticals (NASDAQ:AGIO) last announced its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.69) earnings per share 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 company’s revenue for the quarter was up 28.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.51) earnings per share. On average, equities analysts anticipate that Agios Pharmaceuticals will post -4.85 earnings per share for the current year.

Insider Transactions at Agios Pharmaceuticals

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 sale, the chief executive officer now owns 78,792 shares in the company, valued at $3,368,358. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.93% of the company’s stock.

Hedge Funds Weigh In On Agios Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its position in shares of Agios Pharmaceuticals by 13.0% in the 1st quarter. Nordea Investment Management AB now owns 266,588 shares of the biopharmaceutical company’s stock worth $7,824,000 after purchasing an additional 30,764 shares during the last quarter. Frazier Life Sciences Management L.P. raised its position in shares of Agios Pharmaceuticals by 79.2% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 523,166 shares of the biopharmaceutical company’s stock worth $11,651,000 after purchasing an additional 231,164 shares during the last quarter. Caxton Associates LP purchased a new position in shares of Agios Pharmaceuticals in the 1st quarter worth about $1,087,000. Norges Bank purchased a new position in shares of Agios Pharmaceuticals in the 4th quarter worth about $6,826,000. Finally, Vanguard Group Inc. raised its position in shares of Agios Pharmaceuticals by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 5,527,438 shares of the biopharmaceutical company’s stock worth $123,096,000 after purchasing an additional 59,851 shares during the last quarter.

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.