Agios Pharmaceuticals (NASDAQ:AGIO) Price Target Cut to $40.00 by Analysts at Bank of America

Agios Pharmaceuticals (NASDAQ:AGIO) had its price target cut by Bank of America from $41.00 to $40.00 in a report published on Friday morning,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also recently weighed in on AGIO. JPMorgan Chase & Co. boosted their price target on Agios Pharmaceuticals from $31.00 to $36.00 and gave the stock a “neutral” rating in a report on Monday, April 6th. Truist Financial lowered their price objective on Agios Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. The Goldman Sachs Group lifted their price objective on Agios Pharmaceuticals from $28.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, April 1st. HC Wainwright lowered their price objective on Agios Pharmaceuticals from $65.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Finally, Wall Street Zen raised Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Agios Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $41.44.

Agios Pharmaceuticals Stock Down 3.4%

NASDAQ AGIO opened at $29.40 on Friday. Agios Pharmaceuticals has a fifty-two week low of $22.24 and a fifty-two week high of $46.00. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of -4.06 and a beta of 0.58. The business has a fifty day moving average of $29.68 and a 200-day moving average of $29.16.

Agios Pharmaceuticals (NASDAQ:AGIO) last released its quarterly earnings results on Wednesday, April 29th. The biopharmaceutical company reported ($1.69) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.81) by $0.12. Agios Pharmaceuticals had a negative return on equity of 34.11% and a negative net margin of 639.84%.The company had revenue of $20.75 million during the quarter, compared to analysts’ expectations of $13.30 million. Agios Pharmaceuticals’s revenue for the quarter was up 137.7% on a year-over-year basis. As a group, analysts anticipate that Agios Pharmaceuticals will post -6.17 EPS for the current year.

Insider Activity

In other Agios Pharmaceuticals news, insider James William Burns sold 3,280 shares of the business’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $34.71, for a total transaction of $113,848.80. Following the completion of the sale, the insider owned 49,306 shares of the company’s stock, valued at approximately $1,711,411.26. The trade was a 6.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Sarah Gheuens sold 2,940 shares of the business’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $34.71, for a total value of $102,047.40. Following the sale, the insider directly owned 80,277 shares of the company’s stock, valued at approximately $2,786,414.67. This trade represents a 3.53% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 15,582 shares of company stock valued at $520,405 in the last 90 days. 5.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Agios Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. HighVista Strategies LLC grew its position in Agios Pharmaceuticals by 178.5% during the third quarter. HighVista Strategies LLC now owns 195,298 shares of the biopharmaceutical company’s stock valued at $7,839,000 after acquiring an additional 125,171 shares during the period. SG Americas Securities LLC lifted its stake in shares of Agios Pharmaceuticals by 68.0% during the fourth quarter. SG Americas Securities LLC now owns 46,451 shares of the biopharmaceutical company’s stock worth $1,264,000 after purchasing an additional 18,801 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Agios Pharmaceuticals by 64.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 110,440 shares of the biopharmaceutical company’s stock worth $3,006,000 after purchasing an additional 43,287 shares in the last quarter. Erste Asset Management GmbH lifted its stake in shares of Agios Pharmaceuticals by 18.8% during the third quarter. Erste Asset Management GmbH now owns 2,764,900 shares of the biopharmaceutical company’s stock worth $108,578,000 after purchasing an additional 438,411 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC lifted its stake in shares of Agios Pharmaceuticals by 3.2% during the third quarter. ArrowMark Colorado Holdings LLC now owns 679,922 shares of the biopharmaceutical company’s stock worth $27,292,000 after purchasing an additional 21,231 shares in the last quarter.

About Agios Pharmaceuticals

Agios Pharmaceuticals, Inc is a biopharmaceutical company founded in 2008 as a spin-out from research at Dana-Farber Cancer Institute and the Broad Institute. Headquartered in Cambridge, Massachusetts, Agios focuses on understanding and targeting cellular metabolism to develop novel therapies for cancer and rare genetic diseases. The company’s scientific platform integrates genomic discovery, metabolic profiling and precision medicine approaches to identify and advance small-molecule candidates that correct or exploit metabolic dysfunction.

Agios’s lead products are IDH (isocitrate dehydrogenase) inhibitors that target specific cancer mutations.