Agios Pharmaceuticals (NASDAQ:AGIO) Upgraded at TD Cowen

Key Points

• TD Cowen upgraded Agios Pharmaceuticals to “strong buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $41.25.
• Agios shares opened at $32.64, down 1.4%, after the company reported a quarterly EPS loss of $1.69, slightly worse than estimates, although revenue of $44.75 million exceeded expectations.
• Insider Sarah Gheuens sold 30,000 shares worth approximately $914,400 under a pre-arranged Rule 10b5-1 plan; insiders collectively own 5.4% of the company.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) was upgraded by equities research analysts at TD Cowen to a "strong-buy" rating in a report issued on Monday,Zacks.com reports.

Several other analysts have also recently weighed in on AGIO. Truist Financial dropped their price target on Agios Pharmaceuticals from $41.00 to $39.00 and set a "buy" rating for the company in a report on Friday, July 31st. HC Wainwright upped their price objective on Agios Pharmaceuticals from $52.00 to $55.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Bank of America increased their price objective on Agios Pharmaceuticals from $40.00 to $46.00 and gave the stock a "buy" rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. lifted 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. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Agios Pharmaceuticals in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $41.25.

Agios Pharmaceuticals Stock Down 1.4%

Shares of AGIO stock opened at $32.64 on Monday. The firm has a 50 day moving average price of $35.85 and a two-hundred day moving average price of $31.47. The company has a market capitalization of $1.95 billion, a PE ratio of -4.66 and a beta of 0.58. Agios Pharmaceuticals has a 12-month low of $22.24 and a 12-month high of $46.00.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported ($1.69) earnings per share (EPS) 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 the consensus estimate of $26.39 million. As a group, research analysts expect that Agios Pharmaceuticals will post -5.8 EPS for the current year.

Insider Buying and Selling at Agios Pharmaceuticals

In related news, insider Sarah Gheuens sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $30.48, for a total value of $914,400.00. Following the completion of the sale, the insider directly owned 54,645 shares in the company, valued at approximately $1,665,579.60. The trade was a 35.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 5.40% of the company's stock.

Hedge Funds Weigh In On Agios Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in AGIO. Creative Planning lifted its position in shares of Agios Pharmaceuticals by 2.2% during the 3rd quarter. Creative Planning now owns 13,119 shares of the biopharmaceutical company's stock valued at $527,000 after acquiring an additional 280 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Agios Pharmaceuticals by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 132,083 shares of the biopharmaceutical company's stock worth $4,393,000 after purchasing an additional 512 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Agios Pharmaceuticals by 26.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,834 shares of the biopharmaceutical company's stock worth $77,000 after purchasing an additional 588 shares during the period. CANADA LIFE ASSURANCE Co increased its position in shares of Agios Pharmaceuticals by 3.4% in the third quarter. CANADA LIFE ASSURANCE Co now owns 20,325 shares of the biopharmaceutical company's stock worth $796,000 after purchasing an additional 662 shares during the period. Finally, California State Teachers Retirement System raised its stake in Agios Pharmaceuticals by 1.4% in the second quarter. California State Teachers Retirement System now owns 47,659 shares of the biopharmaceutical company's stock valued at $1,585,000 after purchasing an additional 671 shares in the last quarter.

Agios Pharmaceuticals Company Profile

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.

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