Agios Pharmaceuticals (NASDAQ:AGIO) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Agios Pharmaceuticals (NASDAQ:AGIO) had its price objective boosted by investment analysts at Royal Bank of Canada from $55.00 to $57.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the biopharmaceutical company’s stock. Royal Bank of Canada’s price target points to a potential upside of 15.90% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Raymond James restated an “outperform” rating and issued a $51.00 price target on shares of Agios Pharmaceuticals in a research report on Thursday, October 10th. Leerink Partnrs cut shares of Agios Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 27th. Leerink Partners cut shares of Agios Pharmaceuticals from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $60.00 to $56.00 in a research report on Friday, September 27th. Scotiabank increased their price objective on shares of Agios Pharmaceuticals from $53.00 to $75.00 and gave the stock a “sector outperform” rating in a research report on Monday. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Agios Pharmaceuticals in a research report on Friday, September 20th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Agios Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $56.33.

Agios Pharmaceuticals Trading Up 1.1 %

NASDAQ AGIO traded up $0.54 during trading on Tuesday, reaching $49.18. The company’s stock had a trading volume of 88,356 shares, compared to its average volume of 699,918. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 4.33 and a beta of 0.80. Agios Pharmaceuticals has a 12 month low of $20.96 and a 12 month high of $62.58. The firm has a 50 day moving average price of $50.01 and a 200 day moving average price of $46.57.

Insiders Place Their Bets

In other Agios Pharmaceuticals news, CFO Cecilia Jones sold 2,542 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $49.03, for a total value of $124,634.26. Following the completion of the sale, the chief financial officer now directly owns 20,158 shares in the company, valued at approximately $988,346.74. This trade represents a 11.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.93% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AGIO. Erste Asset Management GmbH bought a new position in shares of Agios Pharmaceuticals in the third quarter valued at $97,199,000. Marshall Wace LLP lifted its stake in shares of Agios Pharmaceuticals by 307.8% in the second quarter. Marshall Wace LLP now owns 1,133,735 shares of the biopharmaceutical company’s stock valued at $48,887,000 after buying an additional 855,739 shares in the last quarter. Vestal Point Capital LP bought a new position in shares of Agios Pharmaceuticals in the third quarter valued at $33,767,000. Frazier Life Sciences Management L.P. lifted its stake in shares of Agios Pharmaceuticals by 66.7% in the second quarter. Frazier Life Sciences Management L.P. now owns 871,974 shares of the biopharmaceutical company’s stock valued at $37,600,000 after buying an additional 348,808 shares in the last quarter. Finally, Candriam S.C.A. bought a new position in shares of Agios Pharmaceuticals during the second quarter valued at about $13,922,000.

About Agios Pharmaceuticals

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.