David Scadden, a director at Agios Pharmaceuticals, Inc. (NASDAQ:AGIO), recently sold shares of the company. According to a recent SEC filing, Scadden sold 200 shares of common stock on December 11, 2024, at a price of $46.28 per share, totaling $9,256. This transaction was part of a pre-arranged trading plan under Rule 10b5-1. The stock has seen significant volatility, dropping 38% in the past week, though maintaining a strong 71% gain year-to-date according to InvestingPro data.
In addition to the sale, Scadden exercised stock options to acquire 200 shares at a price of $18.09 per share, resulting in a total purchase value of $3,618. Following these transactions, Scadden now directly owns 15,483 shares of Agios Pharmaceuticals. InvestingPro analysis indicates the stock is currently undervalued, with a GOOD overall financial health score. Discover more insights and 11 additional ProTips for AGIO in the comprehensive Pro Research Report.
In other recent news, Agios Pharma (NASDAQ:AGIO) has been the subject of considerable attention following RBC Capital's decision to increase the company's stock target from $55 to $57, maintaining an Outperform rating. This adjustment came after Agios Pharma's recent presentations which showcased promising clinical data, particularly from their ENERGIZE-T study. The data supports the potential of mitapivat to be a first-of-its-kind treatment for a broad thalassemia patient population.
Further, in the company's Q3 2024 financial report, Agios Pharma reported a significant increase in revenue, driven by milestone payments totaling $1.1 billion from the FDA approval of vorasidenib. The company also revealed plans for the potential launches of mitapivat for thalassemia in 2025 and sickle cell disease in 2026.
RBC Capital's confidence in Agios Pharma has been bolstered by the positive reception of the ENERGIZE-T data and the strong case for regulatory approval consideration of mitapivat in thalassemia across four global regions. The firm has subsequently raised the probability of success for mitapivat's thalassemia program in their valuation model. These are among the recent developments that investors should take into account.
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