Agios Pharmaceuticals (NASDAQ:AGIO) Downgraded by Leerink Partnrs to “Hold”

Leerink Partnrs cut shares of Agios Pharmaceuticals (NASDAQ:AGIO) from a strong-buy rating to a hold rating in a research report released on Friday, Zacks.com reports.

A number of other brokerages have also recently weighed in on AGIO. Cantor Fitzgerald restated an overweight rating on shares of Agios Pharmaceuticals in a research note on Friday, September 20th. Royal Bank of Canada reiterated an outperform rating and issued a $55.00 price target on shares of Agios Pharmaceuticals in a research note on Thursday, September 19th. The Goldman Sachs Group increased their price target on Agios Pharmaceuticals from $33.00 to $53.00 and gave the company a neutral rating in a research note on Tuesday, June 4th. StockNews.com cut Agios Pharmaceuticals from a hold rating to a sell rating in a research note on Monday, August 5th. Finally, Leerink Partners cut Agios Pharmaceuticals from an outperform rating to a market perform rating and decreased their price target for the company from $60.00 to $56.00 in a research note on Friday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $52.50.

Agios Pharmaceuticals Price Performance

Shares of NASDAQ AGIO opened at $45.61 on Friday. The stock has a market capitalization of $2.59 billion, a P/E ratio of -7.22 and a beta of 0.75. Agios Pharmaceuticals has a 1-year low of $19.80 and a 1-year high of $53.28. The business has a fifty day moving average price of $45.68 and a 200 day moving average price of $39.81.

Agios Pharmaceuticals (NASDAQ:AGIO) last issued its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($1.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.09). The company had revenue of $8.60 million for the quarter, compared to analysts’ expectations of $9.34 million. Agios Pharmaceuticals had a negative return on equity of 47.05% and a negative net margin of 1,165.69%. The company’s revenue for the quarter was up 28.4% compared to the same quarter last year. During the same quarter last year, the company earned ($1.51) earnings per share. As a group, equities research analysts anticipate that Agios Pharmaceuticals will post -4.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Agios Pharmaceuticals news, CEO Brian Goff sold 11,091 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $42.75, for a total value of $474,140.25. Following the sale, the chief executive officer now directly owns 78,792 shares of the company’s stock, valued at $3,368,358. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.93% of the stock is owned by corporate insiders.

Institutional Trading of Agios Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. Nordea Investment Management AB grew its holdings in Agios Pharmaceuticals by 13.0% in the first quarter. Nordea Investment Management AB now owns 266,588 shares of the biopharmaceutical company’s stock valued at $7,824,000 after purchasing an additional 30,764 shares during the period. Frazier Life Sciences Management L.P. lifted its position in shares of Agios Pharmaceuticals by 79.2% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 523,166 shares of the biopharmaceutical company’s stock valued at $11,651,000 after acquiring an additional 231,164 shares in the last quarter. Caxton Associates LP purchased a new position in shares of Agios Pharmaceuticals in the first quarter valued at approximately $1,087,000. Norges Bank purchased a new position in shares of Agios Pharmaceuticals in the fourth quarter valued at approximately $6,826,000. Finally, Vanguard Group Inc. lifted its position in shares of Agios Pharmaceuticals by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 5,527,438 shares of the biopharmaceutical company’s stock valued at $123,096,000 after acquiring an additional 59,851 shares in the last quarter.

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.