Agios Pharmaceuticals Receives Overweight Rating from Cantor Fitzgerald

Agios Pharmaceuticals (NASDAQ:AGIO) has been given an "overweight" rating by analysts at Cantor Fitzgerald as affirmed in a research note issued to investors this Wednesday.

Investment analysts have been actively tracking Agios Pharmaceuticals and many have recently made updates to their ratings. For instance, Royal Bank of Canada increased its price target from $55.00 to $57.00, while also labeling the company with an "outperform" rating in a research note dated December 10th. On December 9th, Scotiabank raised its target price from $53.00 to $75.00 and assigned a "sector outperform" rating to the stock. Additionally, StockNews.com upgraded the rating for Agios Pharmaceuticals from a "sell" to a "hold" on November 9th.

Moreover, Raymond James reiterated an "outperform" rating, issuing a price target of $51.00 on October 10th. In contrast, Leerink Partners downgraded the stock from "outperform" to "market perform" and adjusted the price target from $60.00 to $56.00 on September 27th. Overall, among eight equity research analysts, five have assigned a "hold" rating and four have awarded a "buy" rating to Agios Pharmaceuticals, leading to an average rating of "Hold" with an average target price of $56.33, according to MarketBeat.com.

Agios Pharmaceuticals Stock Performance

As of Wednesday, shares of AGIO opened at $41.96. The company boasts a market capitalization of $2.39 billion, a price-to-earnings ratio of 3.69, and a beta value of 0.80. The stock has fluctuated between a one-year low of $20.96 and a high of $62.58. The 50-day moving average is currently sitting at $50.09, while the 200-day moving average is at $46.84.

Insider Transactions

In recent insider activity, Chief Financial Officer Cecilia Jones sold 2,542 shares of the stock on September 26. The shares were sold at an average price of $49.03, resulting in a total transaction value of $124,634.26. After this sale, Jones holds 20,158 shares in Agios Pharmaceuticals, estimated at a value of $988,346.74, marking an 11.20% decrease in her holdings. This transaction has been disclosed in a legal filing to the Securities and Exchange Commission, which can be found on the SEC website. Insiders currently own 4.93% of the company's shares.

Investments in Agios Pharmaceuticals

Several large investment firms have recently bought or sold shares of AGIO. For example, Northcape Wealth Management LLC established a new position in Agios Pharmaceuticals during the second quarter, valued at approximately $244,000. Bank of New York Mellon Corp increased its holdings by 13.9%, now possessing 223,151 shares valued at $9,622,000 after acquiring an additional 27,193 shares in the last quarter. Panagora Asset Management Inc. also entered a new stake in Agios Pharmaceuticals worth about $7,540,000.

Additionally, TD Asset Management Inc. boosted its stake by 34.6%, obtaining 210,472 shares valued at $9,076,000 after purchasing an additional 54,054 shares. Lastly, North Star Asset Management Inc. has acquired a new position in Agios Pharmaceuticals during the second quarter valued at about $216,000.

Overview of Agios Pharmaceuticals

Agios Pharmaceuticals, Inc. is a biopharmaceutical company based in the United States that focuses on discovering and developing innovative medicines targeting cellular metabolism. The company’s leading product, PYRUKYND (mitapivat), is an activator used in the treatment of hemolytic anemias, targeting both wild-type and mutant forms of the pyruvate kinase (PK) enzyme.

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