Agios Pharmaceuticals (NASDAQ:AGIO) Cut to "Strong Sell" at Zacks Research

Key Points

• Agios Pharmaceuticals has been downgraded from a "hold" to a "strong sell" rating by Zacks Research, indicating a significant shift in analyst sentiment towards the stock.
• Despite the downgrade, six analysts still rate Agios Pharmaceuticals as a Buy, with a consensus target price of $56.00, suggesting potential upside from its current price levels.
• The company reported a quarterly loss of ($1.93) earnings per share, which was worse than the consensus estimate, and revenue totaled $12.50 million, beating expectations of $9.46 million.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report issued on Monday,Zacks.com reports.

A number of other research analysts have also commented on the stock. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Agios Pharmaceuticals in a research report on Saturday, September 27th. HC Wainwright reaffirmed a "buy" rating and set a $56.00 price objective on shares of Agios Pharmaceuticals in a research note on Thursday, September 4th. Scotiabank cut their price objective on shares of Agios Pharmaceuticals from $71.00 to $65.00 and set a "sector outperform" rating on the stock in a report on Monday, July 28th. Finally, Bank of America cut their target price on shares of Agios Pharmaceuticals from $52.00 to $51.00 and set a "buy" rating on the stock in a report on Tuesday, July 22nd. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Agios Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $56.00.

Agios Pharmaceuticals Price Performance

Shares of NASDAQ:AGIO opened at $40.87 on Monday. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 3.72 and a beta of 0.83. Agios Pharmaceuticals has a 12 month low of $23.42 and a 12 month high of $62.58. The stock's 50 day moving average price is $37.57 and its 200 day moving average price is $33.96.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported ($1.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.74) by ($0.19). Agios Pharmaceuticals had a net margin of 1,590.42% and a negative return on equity of 3.49%. The company had revenue of $12.50 million during the quarter, compared to the consensus estimate of $9.46 million. On average, sell-side analysts expect that Agios Pharmaceuticals will post -6.85 EPS for the current year.

Insider Activity

In related news, CEO Brian Goff sold 11,085 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $36.67, for a total transaction of $406,486.95. Following the completion of the sale, the chief executive officer owned 123,528 shares in the company, valued at approximately $4,529,771.76. This trade represents a 8.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Theodore James Jr. Washburn sold 8,546 shares of the business's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $36.87, for a total transaction of $315,091.02. Following the transaction, the insider directly owned 868 shares of the company's stock, valued at approximately $32,003.16. This represents a 90.78% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,682 shares of company stock worth $911,825. Company insiders own 4.93% of the company's stock.

Hedge Funds Weigh In On Agios Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC bought a new position in shares of Agios Pharmaceuticals in the 1st quarter worth approximately $40,000. CWM LLC boosted its position in shares of Agios Pharmaceuticals by 150.2% during the 1st quarter. CWM LLC now owns 1,659 shares of the biopharmaceutical company's stock valued at $49,000 after acquiring an additional 996 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Agios Pharmaceuticals by 16.7% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,237 shares of the biopharmaceutical company's stock worth $74,000 after buying an additional 320 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Agios Pharmaceuticals by 16.2% during the first quarter. PNC Financial Services Group Inc. now owns 3,582 shares of the biopharmaceutical company's stock worth $105,000 after purchasing an additional 499 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Agios Pharmaceuticals during the first quarter valued at $133,000.

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.

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