Shares of healthcare services company Agilon Health (NYSE:AGL) jumped 29.9% in the afternoon session after Bernstein upgraded the stock’s rating from Hold to Buy with a price target of $8.5. The firm noted that new data on AGL drove increased confidence in its turnaround plans and cash position.
The shares closed the day at $5.36, up 26.1% from previous close.
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agilon health’s shares are extremely volatile and have had 80 moves greater than 5% over the last year. But moves this big are rare even for agilon health and indicate this news significantly impacted the market’s perception of the business.
agilon health is up 176% since the beginning of the year, but at $5.30 per share, it is still trading 29.5% below its 52-week high of $7.52 from July 2024. Investors who bought $1,000 worth of agilon health’s shares at the IPO in April 2021 would now be looking at an investment worth $170.96.
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