Stock Update (NASDAQ:AGIO): Agios Announces that Celgene Has Agreed to Exercise its Option to License AG-120 under Global Strategic Collaboration
Agios Pharmaceuticals, Inc. (Nasdaq:AGIO), a leader in the fields of cancer metabolism and rare genetic disorders of metabolism, today announced that its collaboration partner Celgene Corporation has agreed that it will exercise its option to obtain an exclusive license outside the United States for AG-120, a first-in-class, oral, potent inhibitor of the mutant IDH1 protein under the terms of the 2010 collaboration agreement. This would be the second IDH mutant inhibitor to be licensed by Celgene… Read more
Shares of Agios Pharmaceuticals opened today at $130.49 and are currently trading up at $131.21. AGIO has a 1-year high of $132.95 and a 1-year low of $25.05. The stock’s 50-day moving average is $110.53 and it’s 200-day moving average is $67.94.
On the ratings front, Agios Pharmaceuticals has been the subject of a number of recent research reports. In a report published on January 5, analyst Debjit Chattopadhyay from Roth Capital initiated coverage with a Hold rating on AGIO and a price target of $114, which represents a potential downside of 12.6% from where the stock is currently trading. Separately, on December 10, MLV & Co.`s Arlinda Lee reiterated a Buy rating on Agios Pharmaceuticals shares and has a price target of $123.
In total,3 research analysts have assigned a Hold rating and 3 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $130.49 which is -16.1% under where the stock opened today.
Agios Pharmaceuticals Inc is engaged in the development of medicines to treat the cancer metabolism and inborn errors of metabolism, which are a subset of orphan genetic metabolic diseases.