Agios Pharmaceuticals (NASDAQ:AGIO) Receives Buy Rating from Cowen

Agios Pharmaceuticals (NASDAQ:AGIO)‘s stock had its “buy” rating reissued by investment analysts at Cowen in a research note issued to investors on Tuesday.

AGIO has been the subject of several other research reports. JPMorgan Chase & Co. dropped their price objective on Agios Pharmaceuticals from $80.00 to $68.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Piper Jaffray Companies dropped their price objective on Agios Pharmaceuticals from $80.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Zacks Investment Research lowered Agios Pharmaceuticals from a “hold” rating to a “sell” rating and set a $40.00 price objective for the company. in a research note on Monday, September 16th. BidaskClub lowered Agios Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, September 27th. Finally, Cantor Fitzgerald began coverage on Agios Pharmaceuticals in a research note on Tuesday, November 26th. They set an “overweight” rating and a $64.00 price target for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $63.18.

NASDAQ:AGIO traded up $2.16 during trading hours on Tuesday, hitting $44.13. 42,279 shares of the company’s stock traded hands, compared to its average volume of 835,706. The firm has a market cap of $2.41 billion, a P/E ratio of -7.31 and a beta of 2.27. Agios Pharmaceuticals has a 52 week low of $28.36 and a 52 week high of $68.94. The business’s fifty day simple moving average is $35.79 and its two-hundred day simple moving average is $40.70. The company has a quick ratio of 5.24, a current ratio of 5.30 and a debt-to-equity ratio of 0.24.

Agios Pharmaceuticals (NASDAQ:AGIO) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.81) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.85) by $0.04. The company had revenue of $26.02 million during the quarter, compared to analyst estimates of $33.13 million. Agios Pharmaceuticals had a negative return on equity of 70.07% and a negative net margin of 356.42%. The firm’s quarterly revenue was up 71.2% on a year-over-year basis. During the same quarter last year, the company earned ($1.63) earnings per share. On average, analysts expect that Agios Pharmaceuticals will post -6.85 EPS for the current year.

In related news, Director David P. Schenkein bought 8,064 shares of the stock in a transaction dated Wednesday, November 13th. The stock was bought at an average price of $31.00 per share, with a total value of $249,984.00. Following the purchase, the director now owns 97,567 shares in the company, valued at approximately $3,024,577. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Corp /De/ Celgene bought 403,225 shares of the stock in a transaction dated Tuesday, November 12th. The stock was bought at an average cost of $31.00 per share, with a total value of $12,499,975.00. Following the purchase, the insider now owns 1,777,824 shares in the company, valued at approximately $55,112,544. The disclosure for this purchase can be found here. In the last three months, insiders bought 451,611 shares of company stock valued at $13,999,941. 3.16% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp lifted its holdings in shares of Agios Pharmaceuticals by 20.5% in the 2nd quarter. Northern Trust Corp now owns 299,654 shares of the biopharmaceutical company’s stock worth $14,947,000 after acquiring an additional 50,908 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new position in shares of Agios Pharmaceuticals during the 3rd quarter worth about $1,649,000. California Public Employees Retirement System grew its position in shares of Agios Pharmaceuticals by 40.9% during the 3rd quarter. California Public Employees Retirement System now owns 86,400 shares of the biopharmaceutical company’s stock worth $2,799,000 after buying an additional 25,100 shares during the period. Morgan Stanley grew its position in shares of Agios Pharmaceuticals by 36.1% during the 2nd quarter. Morgan Stanley now owns 79,556 shares of the biopharmaceutical company’s stock worth $3,967,000 after buying an additional 21,107 shares during the period. Finally, Baillie Gifford & Co. grew its position in shares of Agios Pharmaceuticals by 23.8% during the 2nd quarter. Baillie Gifford & Co. now owns 1,079,829 shares of the biopharmaceutical company’s stock worth $53,862,000 after buying an additional 207,604 shares during the period.

About Agios Pharmaceuticals

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.

Further Reading: Commodities

Analyst Recommendations for Agios Pharmaceuticals (NASDAQ:AGIO)

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.