Agios Pharmaceuticals (NASDAQ:AGIO) Upgraded by TD Cowen to “Strong-Buy” Rating

TD Cowen upgraded shares of Agios Pharmaceuticals (NASDAQ:AGIO) to a strong-buy rating in a research note published on Monday,Zacks.com reports.

A number of other research analysts also recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Agios Pharmaceuticals in a research report on Wednesday, June 24th. Bank of America increased their price objective on shares of Agios Pharmaceuticals from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Royal Bank Of Canada raised their price objective on Agios Pharmaceuticals from $28.00 to $32.00 and gave the company a “sector perform” rating in a report on Tuesday, July 7th. Truist Financial lowered their target price on Agios Pharmaceuticals from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. Finally, JPMorgan Chase & Co. upped their target price on Agios Pharmaceuticals from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.25.

Agios Pharmaceuticals Stock Performance

Shares of Agios Pharmaceuticals stock opened at $32.64 on Monday. The firm has a market cap of $1.95 billion, a PE ratio of -4.66 and a beta of 0.58. The business’s 50 day simple moving average is $35.85 and its 200 day simple moving average is $31.47. Agios Pharmaceuticals has a 52-week low of $22.24 and a 52-week high of $46.00.

Agios Pharmaceuticals (NASDAQ:AGIO) last released its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.65) by ($0.04). Agios Pharmaceuticals had a negative return on equity of 35.67% and a negative net margin of 418.24%.The firm had revenue of $44.75 million for the quarter, compared to analyst estimates of $26.39 million. As a group, equities research analysts predict that Agios Pharmaceuticals will post -5.8 EPS for the current year.

Insider Transactions at Agios Pharmaceuticals

In other Agios Pharmaceuticals news, insider Sarah Gheuens sold 30,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $30.48, for a total transaction of $914,400.00. Following the sale, the insider directly owned 54,645 shares of the company’s stock, valued at approximately $1,665,579.60. This represents a 35.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Agios Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of AGIO. California State Teachers Retirement System grew its holdings in Agios Pharmaceuticals by 3,515.3% during the second quarter. California State Teachers Retirement System now owns 2,478,800 shares of the biopharmaceutical company’s stock worth $91,988,000 after purchasing an additional 2,410,236 shares during the period. AXQ Capital LP acquired a new position in Agios Pharmaceuticals during the second quarter worth approximately $1,026,000. Nykredit A S bought a new stake in Agios Pharmaceuticals in the second quarter valued at approximately $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Agios Pharmaceuticals by 5.6% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,909 shares of the biopharmaceutical company’s stock valued at $4,338,000 after buying an additional 6,230 shares during the period. Finally, Hsbc Holdings PLC acquired a new stake in shares of Agios Pharmaceuticals in the second quarter valued at approximately $293,000.

About Agios Pharmaceuticals

Agios Pharmaceuticals, Inc is a biopharmaceutical company founded in 2008 as a spin-out from research at Dana-Farber Cancer Institute and the Broad Institute. Headquartered in Cambridge, Massachusetts, Agios focuses on understanding and targeting cellular metabolism to develop novel therapies for cancer and rare genetic diseases. The company’s scientific platform integrates genomic discovery, metabolic profiling and precision medicine approaches to identify and advance small-molecule candidates that correct or exploit metabolic dysfunction.

Agios’s lead products are IDH (isocitrate dehydrogenase) inhibitors that target specific cancer mutations.