Agios Pharmaceuticals (NASDAQ:AGIO) Research Coverage Started at Needham & Company LLC

Needham & Company LLC initiated coverage on shares of Agios Pharmaceuticals (NASDAQ:AGIO) in a research report sent to investors on Thursday, TipRanks reports. The firm issued a buy rating and a $71.00 target price on the biopharmaceutical company’s stock.

Several other research firms have also weighed in on AGIO. BidaskClub lowered Agios Pharmaceuticals from a buy rating to a hold rating in a research note on Wednesday, July 15th. JPMorgan Chase & Co. lifted their price target on shares of Agios Pharmaceuticals from $72.00 to $82.00 and gave the company an overweight rating in a research report on Monday, May 4th. Guggenheim increased their price objective on shares of Agios Pharmaceuticals from $60.00 to $66.00 and gave the stock a buy rating in a research report on Monday, June 15th. Oppenheimer restated a hold rating on shares of Agios Pharmaceuticals in a report on Monday, June 15th. Finally, Canaccord Genuity reiterated a buy rating and issued a $72.00 price target on shares of Agios Pharmaceuticals in a report on Friday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $68.77.

Shares of AGIO opened at $45.32 on Thursday. Agios Pharmaceuticals has a fifty-two week low of $27.77 and a fifty-two week high of $56.74. The company’s fifty day moving average is $51.61 and its two-hundred day moving average is $47.27. The company has a current ratio of 8.41, a quick ratio of 8.27 and a debt-to-equity ratio of 0.17.

Agios Pharmaceuticals (NASDAQ:AGIO) last issued its earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.31) earnings per share for the quarter, topping the consensus estimate of ($1.36) by $0.05. Agios Pharmaceuticals had a negative return on equity of 59.38% and a negative net margin of 182.49%. The business had revenue of $37.30 million for the quarter, compared to analyst estimates of $37.17 million. During the same period last year, the company posted ($1.87) EPS. The business’s quarterly revenue was up 42.4% on a year-over-year basis. As a group, equities analysts forecast that Agios Pharmaceuticals will post -4.67 EPS for the current fiscal year.

In other news, insider Christopher Bowden sold 3,583 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $50.01, for a total transaction of $179,185.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.16% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Peregrine Capital Management LLC acquired a new stake in shares of Agios Pharmaceuticals during the second quarter worth approximately $9,625,000. North Star Asset Management Inc. bought a new position in Agios Pharmaceuticals during the 2nd quarter valued at $299,000. ZWJ Investment Counsel Inc. boosted its stake in Agios Pharmaceuticals by 10.0% during the 2nd quarter. ZWJ Investment Counsel Inc. now owns 175,612 shares of the biopharmaceutical company’s stock valued at $9,392,000 after acquiring an additional 15,970 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Agios Pharmaceuticals by 44.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,738 shares of the biopharmaceutical company’s stock worth $414,000 after acquiring an additional 2,365 shares in the last quarter. Finally, Creative Planning bought a new stake in shares of Agios Pharmaceuticals in the 2nd quarter worth about $256,000. Institutional investors own 97.73% of the company’s stock.

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.

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Analyst Recommendations for Agios Pharmaceuticals (NASDAQ:AGIO)

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