Agios Pharmaceuticals Inc. (NASDAQ:AGIO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
According to Zacks, “Agios is a development-stage biopharmaceutical company focused on the development of treatments for cancer and rare genetic metabolic disorders. Being a development-stage company, Agios depends heavily on Celgene for revenues, which it earns in the form of collaboration revenues. The company also depends on Celgene for two of its pipeline candidates – enasidenib and AG-881. Moreover, most of the company's pipeline candidates are in mid- and early-stages of development and thus, quite a few years away from entering the market, if at all. Stiff competition remains a threat as well. Several companies are looking to bring treatments for cancer and rare genetic metabolic disorders by targeting cellular metabolism. However, the company’s metabolic immuno-oncology focused collaboration with Celgene is encouraging. The deal will see Agios receiving funds in the form of upfront, regulatory and commercial milestone payments plus royalties.”
A number of other research firms have also commented on AGIO. Vetr lowered shares of Agios Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $68.42 price target on the stock. in a research report on Tuesday, June 7th. JPMorgan Chase & Co. upgraded shares of Agios Pharmaceuticals from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $50.00 to $62.00 in a research note on Friday, June 10th. Janney Montgomery Scott reiterated a “neutral” rating and set a $47.00 price objective (down from $52.00) on shares of Agios Pharmaceuticals in a research note on Monday, June 13th. Canaccord Genuity reiterated a “hold” rating and set a $50.00 price objective on shares of Agios Pharmaceuticals in a research note on Thursday, June 9th. Finally, Goldman Sachs Group Inc. reiterated a “hold” rating and set a $46.00 price objective on shares of Agios Pharmaceuticals in a research note on Monday, June 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $63.44.
Agios Pharmaceuticals (NASDAQ:AGIO) traded down 2.06% during midday trading on Wednesday, hitting $52.69. 619,050 shares of the company were exchanged. The stock’s market capitalization is $2.00 billion. Agios Pharmaceuticals has a one year low of $33.50 and a one year high of $81.77. The firm’s 50-day moving average price is $46.07 and its 200-day moving average price is $46.30.
Agios Pharmaceuticals (NASDAQ:AGIO) last released its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by $0.99. Agios Pharmaceuticals had a negative return on equity of 47.69% and a negative net margin of 320.33%. The business had revenue of $6.98 million for the quarter, compared to the consensus estimate of $39.62 million. During the same period in the prior year, the business posted ($0.85) earnings per share. Agios Pharmaceuticals’s revenue was down 47.2% compared to the same quarter last year. Equities research analysts anticipate that Agios Pharmaceuticals will post ($5.04) earnings per share for the current year.
In related news, insider Scott Biller sold 5,000 shares of Agios Pharmaceuticals stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $55.00, for a total transaction of $275,000.00. Following the sale, the insider now directly owns 48,270 shares in the company, valued at approximately $2,654,850. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lewis Clayton Jr. Cantley sold 627 shares of Agios Pharmaceuticals stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $41.85, for a total transaction of $26,239.95. Following the sale, the director now owns 112,167 shares in the company, valued at $4,694,188.95. The disclosure for this sale can be found here. Corporate insiders own 10.55% of the company’s stock.
A number of large investors have recently bought and sold shares of AGIO. Wellington Management Group LLP increased its stake in Agios Pharmaceuticals by 0.6% in the first quarter. Wellington Management Group LLP now owns 5,299,078 shares of the biopharmaceutical company’s stock valued at $215,141,000 after buying an additional 31,611 shares in the last quarter. BB Biotech AG increased its stake in Agios Pharmaceuticals by 9.4% in the second quarter. BB Biotech AG now owns 2,363,321 shares of the biopharmaceutical company’s stock valued at $99,011,000 after buying an additional 203,400 shares in the last quarter. Vanguard Group Inc. increased its stake in Agios Pharmaceuticals by 10.1% in the second quarter. Vanguard Group Inc. now owns 2,105,591 shares of the biopharmaceutical company’s stock valued at $88,214,000 after buying an additional 192,852 shares in the last quarter. Flagship Ventures Fund 2007 L.P. acquired a new stake in Agios Pharmaceuticals during the first quarter valued at approximately $78,373,000. Finally, Capital International Investors increased its stake in Agios Pharmaceuticals by 11.4% in the second quarter. Capital International Investors now owns 1,501,037 shares of the biopharmaceutical company’s stock valued at $62,886,000 after buying an additional 153,464 shares in the last quarter. Institutional investors and hedge funds own 81.59% of the company’s stock.
About Agios Pharmaceuticals
Agios Pharmaceuticals, Inc is a biopharmaceutical company. The Company is engaged in the discovery and development of orally available small molecule medicines for the treatment of cancer and rare genetic disorders (RGDs), which are a subset of orphan genetic metabolic diseases. Its cancer product candidates are AG-221 and AG-120, which targets mutated isocitrate dehydrogenase 2 and 1, or IDH2 and IDH1, respectively, and AG-881, which targets both mutated IDH1 and mutated IDH2.