Agios Pharmaceuticals Inc (NASDAQ:AGIO), a leader in the fields of cancer metabolism and rare genetic disorders of metabolism,
announced that the company’s board of directors has appointed Maykin Ho, Ph.D., former partner at the Goldman Sachs Group, as an independent director to the company’s board.
“We are delighted to welcome Maykin to our board,” said David Schenkein, M.D., chief executive officer of Agios. “We believe her unparalleled healthcare finance experience, which includes over 20 years at the senior advisory level at one of the industry’s top banking institutions, will be invaluable as we continue to build a multi-product biopharmaceutical company.”
“The rapid progress of the cancer and rare genetic disorders programs at Agios is a validation of the company’s scientific leadership in dysregulated metabolism,” said Dr. Ho. “I look forward to working with the accomplished board of directors and the outstanding management team as Agios starts late-stage clinical development and reaches vital milestones over the next several years.”
Dr. Ho has more than 30 years of experience in the healthcare and finance industries. She is a retired partner of theGoldman Sachs Group where she served as senior biotechnology analyst, co-head of healthcare for global investment research and advisory director for healthcare investment banking. Previously, Dr. Ho held various managerial positions in licensing, strategic planning, marketing and research at DuPont-Merck Pharmaceuticals and DuPont de Nemours & Company. She is a member of the board of directors and chair of the audit committee for the Aaron Diamond AIDS Research Center in New York. She also served on the investment committee of the Society of Neuroscience. Dr. Ho was a postdoctoral fellow in the pathology department of Harvard Medical School and a graduate of the Advanced Management Program at The Fuqua School of Business, Duke University. She received a Ph.D. in microbiology and immunology and a B.S. from the State University of New York, Downstate Medical Center.
The board also made additional changes among its existing members. Kevin Starr, co-founder and partner at Third Rock Ventures, who has served as the company’s chairman, chose not to stand for re-election when his term expired at the 2015 annual meeting of stockholders on June 23, 2015. Marc Tessier-Lavigne, Ph.D., has been named as the company’s new chairman, and Kaye Foster-Cheek will replace Dr. Tessier-Lavigne as chair of the compensation committee. Both appointments are effective immediately. (Original Source)
Shares of Agios Pharmaceuticals closed today at $103.56, down $3.08 or 2.89%. AGIO has a 1-year high of $138.85 and a 1-year low of $33.01. The stock’s 50-day moving average is $112.84 and its 200-day moving average is $110.49.
On the ratings front, Agios has been the subject of a number of recent research reports. In a report issued on June 16, MLV & Co. analyst Arlinda Lee reiterated a Buy rating on AGIO, with a price target of $130, which represents a potential upside of 22.2% from where the stock is currently trading. Separately, on June 15, Canaccord Genuity’s John Newman reiterated a Hold rating on the stock and has a price target of $93.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Arlinda Lee and John Newman have a total average return of 9.4% and 18.2% respectively. Lee has a success rate of 52.5% and is ranked #825 out of 3640 analysts, while Newman has a success rate of 65.3% and is ranked #115.
Overall, 3 research analysts have assigned a Hold rating and one research analyst has given a a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $115.67 which is 8.7% above where the stock opened today.
Agios Pharmaceuticals Inc is engaged in the development of medicines to treat cancer metabolism and inborn errors of metabolism, which are a subset of orphan genetic metabolic diseases.