Agios Pharmaceuticals (NASDAQ:AGIO) Earns Buy Rating from Analysts at Citigroup

Citigroup began coverage on shares of Agios Pharmaceuticals (NASDAQ:AGIO) in a research note released on Wednesday morning, MarketBeat.com reports. The brokerage issued a buy rating on the biopharmaceutical company’s stock.

AGIO has been the subject of a number of other research reports. Royal Bank Of Canada cut shares of Agios Pharmaceuticals from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $57.00 to $28.00 in a research note on Wednesday, November 19th. The Goldman Sachs Group reduced their price objective on Agios Pharmaceuticals from $40.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, November 20th. Wall Street Zen downgraded Agios Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. JPMorgan Chase & Co. dropped their target price on Agios Pharmaceuticals from $37.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, November 21st. Finally, Leerink Partnrs upgraded Agios Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $35.78.

Agios Pharmaceuticals Trading Up 0.7%

Shares of Agios Pharmaceuticals stock opened at $29.26 on Wednesday. The firm has a market capitalization of $1.71 billion, a PE ratio of -4.18 and a beta of 0.89. Agios Pharmaceuticals has a 12 month low of $22.24 and a 12 month high of $62.45. The business’s 50-day moving average price is $39.05 and its 200-day moving average price is $36.80.

Agios Pharmaceuticals (NASDAQ:AGIO) last issued its earnings results on Thursday, October 30th. The biopharmaceutical company reported ($1.78) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.93) by $0.15. Agios Pharmaceuticals had a negative return on equity of 28.35% and a negative net margin of 895.86%.The business had revenue of $12.88 million during the quarter, compared to analyst estimates of $10.49 million. During the same quarter in the prior year, the firm earned $16.22 earnings per share. Agios Pharmaceuticals’s revenue for the quarter was up 43.3% on a year-over-year basis. As a group, analysts predict that Agios Pharmaceuticals will post -6.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Cecilia Jones sold 3,651 shares of the business’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $36.77, for a total transaction of $134,247.27. Following the transaction, the chief financial officer owned 33,870 shares in the company, valued at $1,245,399.90. The trade was a 9.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sarah Gheuens sold 3,302 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $43.92, for a total value of $145,023.84. Following the transaction, the insider directly owned 61,727 shares of the company’s stock, valued at $2,711,049.84. The trade was a 5.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 16,099 shares of company stock valued at $620,092 over the last ninety days. 4.30% of the stock is owned by insiders.

Institutional Trading of Agios Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AGIO. NewEdge Advisors LLC bought a new stake in Agios Pharmaceuticals in the first quarter valued at $40,000. First Horizon Corp purchased a new stake in shares of Agios Pharmaceuticals in the 3rd quarter worth about $45,000. CWM LLC lifted its position in shares of Agios Pharmaceuticals by 150.2% in the 1st quarter. CWM LLC now owns 1,659 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 996 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Agios Pharmaceuticals by 16.7% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,237 shares of the biopharmaceutical company’s stock valued at $74,000 after purchasing an additional 320 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Agios Pharmaceuticals during the third quarter valued at about $79,000.

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.