Agios Pharmaceuticals (NASDAQ:AGIO) Given "Outperform" Rating at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Agios Pharmaceuticals (NASDAQ:AGIO - Free Report) in a research report report published on Friday morning, Benzinga reports. Royal Bank of Canada currently has a $55.00 price objective on the biopharmaceutical company's stock.

Several other analysts also recently weighed in on the stock. Scotiabank lifted their target price on shares of Agios Pharmaceuticals from $51.00 to $53.00 and gave the company a "sector outperform" rating in a report on Friday. StockNews.com raised Agios Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Wednesday, October 16th. Leerink Partners lowered Agios Pharmaceuticals from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $60.00 to $56.00 in a report on Friday, September 27th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Agios Pharmaceuticals in a research note on Friday, September 20th. Finally, Raymond James reaffirmed an "outperform" rating and issued a $51.00 target price on shares of Agios Pharmaceuticals in a research note on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $52.33.

Agios Pharmaceuticals Price Performance

Shares of NASDAQ:AGIO traded up $0.44 on Friday, reaching $44.87. The company's stock had a trading volume of 672,837 shares, compared to its average volume of 689,661. Agios Pharmaceuticals has a 52-week low of $20.40 and a 52-week high of $53.28. The stock's 50-day moving average is $44.62 and its two-hundred day moving average is $42.13. The stock has a market capitalization of $2.55 billion, a P/E ratio of -6.90, a PEG ratio of 0.47 and a beta of 0.75.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last released its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.69) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.60) by ($0.09). Agios Pharmaceuticals had a negative net margin of 1,165.69% and a negative return on equity of 47.05%. The company had revenue of $8.60 million during the quarter, compared to analyst estimates of $9.34 million. During the same period in the previous year, the firm posted ($1.51) EPS. The company's revenue for the quarter was up 28.4% on a year-over-year basis. Equities analysts forecast that Agios Pharmaceuticals will post 7.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Cecilia Jones sold 2,542 shares of the company's stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $49.03, for a total transaction of $124,634.26. Following the completion of the transaction, the chief financial officer now owns 20,158 shares of the company's stock, valued at approximately $988,346.74. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Brian Goff sold 11,091 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $42.75, for a total value of $474,140.25. Following the completion of the sale, the chief executive officer now owns 78,792 shares in the company, valued at approximately $3,368,358. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Cecilia Jones sold 2,542 shares of Agios Pharmaceuticals stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $49.03, for a total transaction of $124,634.26. Following the sale, the chief financial officer now owns 20,158 shares in the company, valued at $988,346.74. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.93% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Agios Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farallon Capital Management LLC boosted its holdings in shares of Agios Pharmaceuticals by 34.1% in the 1st quarter. Farallon Capital Management LLC now owns 5,590,602 shares of the biopharmaceutical company's stock valued at $163,469,000 after buying an additional 1,423,000 shares during the period. Marshall Wace LLP raised its stake in Agios Pharmaceuticals by 307.8% during the 2nd quarter. Marshall Wace LLP now owns 1,133,735 shares of the biopharmaceutical company's stock valued at $48,887,000 after purchasing an additional 855,739 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Agios Pharmaceuticals by 23.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,012,993 shares of the biopharmaceutical company's stock worth $58,861,000 after acquiring an additional 388,381 shares in the last quarter. Frazier Life Sciences Management L.P. increased its stake in shares of Agios Pharmaceuticals by 66.7% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 871,974 shares of the biopharmaceutical company's stock worth $37,600,000 after purchasing an additional 348,808 shares during the last quarter. Finally, Candriam S.C.A. acquired a new stake in Agios Pharmaceuticals in the 2nd quarter worth approximately $13,922,000.

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.