The CEO of Agios Pharma is Exercising Options

By Carrie Williams

Today it was reported that the CEO of Agios Pharma (NASDAQ: AGIO), David Schenkein, exercised options to buy 75,119 AGIO shares at $3.31 a share, for a total transaction value of $249K.

Following David Schenkein’s last AGIO Buy transaction on January 11, 2016, the stock climbed by 32.2%. This recent transaction increases David Schenkein’s holding in the company by 21.56% to a total of $33.93 million.

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Based on Agios Pharma’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $40.41 million and GAAP net loss of $68.75 million. In comparison, last year the company earned revenue of $11.35 million and had a GAAP net loss of $83.08 million. Currently, Agios Pharma has an average volume of 332.4K.

Based on 6 analyst ratings, the analyst consensus is Strong Buy with an average price target of $106.75, reflecting a 39.3% upside. Five different firms, including Canaccord Genuity and Piper Jaffray, currently also have a Buy rating on the stock.

The insider sentiment on Agios Pharma has been positive according to 69 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

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Agios Pharmaceuticals, Inc. is a biopharmaceutical company, which engages in the discovery and development of novel investigational medicines to treat cancer and rare genetic diseases. It focuses on diseases that are directly caused by changes in genes or chromosomes, often passed from one generation to the next.