Cantor Fitzgerald Reaffirms Overweight Rating on Agios Pharmaceuticals

Investment analysts at Cantor Fitzgerald have reaffirmed an "overweight" rating on the shares of Agios Pharmaceuticals (NASDAQ: AGIO) in a recent research report published on Wednesday. This endorsement reflects confidence in the company’s stock performance potential, as Cantor Fitzgerald continues to be optimistic about Agios Pharmaceuticals' future prospects.

Recent Analyst Activity

In addition to Cantor Fitzgerald’s assessment, several other investment firms have also updated their ratings and price targets for Agios Pharmaceuticals. For instance, Royal Bank of Canada recently raised its price target for the stock from $55.00 to $57.00, maintaining an "outperform" rating in a report released earlier this month.

Scotiabank made a noteworthy increase to their target price as well, lifting it from $53.00 to $75.00 and categorizing the company with a "sector outperform" rating. Meanwhile, StockNews.com upgraded Agios Pharmaceuticals from a "sell" to a "hold" in their analysis. Raymond James also reiterated an "outperform" rating for the stock, setting a price goal of $51.00.

However, not all analysts remained bullish; Leerink Partners downgraded their rating from "outperform" to "market perform," reducing the price target from $60.00 to $56.00 as of late September. Currently, the stock has garnered five "hold" ratings and four "buy" ratings, according to MarketBeat.com, resulting in an average rating of "Hold" and a mean target price of $56.33.

Performance Metrics

As of Wednesday, shares of Agios Pharmaceuticals opened at $41.96. The company holds a market capitalization of $2.39 billion and possesses a price-to-earnings (P/E) ratio of 3.69. Its beta is reported at 0.80. Over the past year, the stock has fluctuated between a low of $20.96 and a high of $62.58. Currently, its 50-day moving average sits at $50.09, while its 200-day moving average is $46.84.

Insider Transactions

In related news, Agios Pharmaceuticals' Chief Financial Officer, Cecilia Jones, sold 2,542 shares on September 26. The shares were sold at an average price of $49.03, resulting in a total value of approximately $124,634. This sale has reduced her share ownership by about 11.20%, leaving her with 20,158 shares valued at approximately $988,346.74. This transaction was reported to the Securities and Exchange Commission as required.

Institutional Investments

Several institutional investors have recently made changes to their stakes in Agios Pharmaceuticals. Northcape Wealth Management LLC established a new position valued at about $244,000 in the second quarter. Bank of New York Mellon Corp also increased its stake by 13.9%, now holding 223,151 shares worth approximately $9.62 million after acquiring an additional 27,193 shares.

Furthermore, Panagora Asset Management Inc. purchased a new stake worth about $7.54 million during the same period. TD Asset Management Inc. raised its holdings by 34.6%, acquiring an additional 54,054 shares to own a total of 210,472 shares valued at $9.08 million. Lastly, North Star Asset Management Inc. secured a new position in Agios Pharmaceuticals valued at approximately $216,000.

Company Overview

Agios Pharmaceuticals, Inc. is a biopharmaceutical firm focused on discovering and developing innovative medicines targeting cellular metabolism. Its leading product is PYRUKYND (mitapivat), designed as an activator for both wild-type and mutant pyruvate kinase enzymes, aimed at treating hemolytic anemias.

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