Agios Pharmaceuticals (NASDAQ:AGIO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports. The brokerage currently has a $46.00 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 6.41% from the stock’s current price.
According to Zacks, “Agios incurred wider-than-expected loss in the second quarter of 2019 while its revenues beat estimates. The company’s newly approved precision medicine Tibsovo has been performing steadily since its launch. The drug’s label expansion studies are also progressing well with the FDA recently granting a nod in the first-line setting. Agios’ progress with its several pipeline candidates has been quite impressive too. We are also optimistic about Agios' collaboration with Celgene as it provides the company with regular funds and royalties from Idhifa sales. However, Agios’ heavy dependence on partner Celgene for royalties remains a woe. Stiff competition from big pharma companies is another matter of concern for the company. Shares of the company have underperformed the industry year to date.”
A number of other research firms have also weighed in on AGIO. ValuEngine lowered shares of Agios Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. Piper Jaffray Companies reduced their target price on shares of Agios Pharmaceuticals from $100.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. BidaskClub raised shares of Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday. Cowen reissued a “buy” rating on shares of Agios Pharmaceuticals in a report on Friday, May 31st. Finally, Royal Bank of Canada set a $89.00 target price on shares of Agios Pharmaceuticals and gave the stock a “buy” rating in a report on Friday, August 2nd. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Agios Pharmaceuticals has an average rating of “Hold” and a consensus target price of $75.00.
AGIO traded up $0.35 during trading on Wednesday, reaching $43.23. 4,687 shares of the company’s stock were exchanged, compared to its average volume of 521,835. Agios Pharmaceuticals has a one year low of $38.62 and a one year high of $85.00. The company has a quick ratio of 5.91, a current ratio of 5.96 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $2.53 billion, a PE ratio of -7.17 and a beta of 2.19. The stock has a fifty day moving average price of $45.64.
Agios Pharmaceuticals (NASDAQ:AGIO) last posted its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.87) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.70) by ($0.17). Agios Pharmaceuticals had a negative return on equity of 59.89% and a negative net margin of 383.05%. The business had revenue of $26.22 million for the quarter, compared to the consensus estimate of $27.05 million. During the same period in the previous year, the firm earned ($1.19) earnings per share. The company’s revenue was down 35.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Agios Pharmaceuticals will post -7.25 earnings per share for the current year.
Large investors have recently bought and sold shares of the company. NumerixS Investment Technologies Inc bought a new stake in shares of Agios Pharmaceuticals in the 2nd quarter valued at $35,000. US Bancorp DE boosted its stake in Agios Pharmaceuticals by 82.6% during the second quarter. US Bancorp DE now owns 1,010 shares of the biopharmaceutical company’s stock worth $50,000 after acquiring an additional 457 shares in the last quarter. ETF Managers Group LLC boosted its stake in Agios Pharmaceuticals by 63.0% during the second quarter. ETF Managers Group LLC now owns 2,851 shares of the biopharmaceutical company’s stock worth $142,000 after acquiring an additional 1,102 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Agios Pharmaceuticals by 27.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,666 shares of the biopharmaceutical company’s stock worth $183,000 after acquiring an additional 779 shares in the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in Agios Pharmaceuticals by 481.6% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 3,280 shares of the biopharmaceutical company’s stock worth $221,000 after acquiring an additional 2,716 shares in the last quarter.
Agios Pharmaceuticals Company Profile
Agios Pharmaceuticals, Inc is a biopharmaceutical company, which engages in the discovery and development of novel investigational medicines to treat cancer and rare genetic diseases. It focuses on diseases that are directly caused by changes in genes or chromosomes, often passed from one generation to the next.
Read More: What is Depreciation?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Agios Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Agios Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.