Agios Pharmaceuticals (NASDAQ:AGIO) Price Target Raised to $46.00 at Bank of America

Agios Pharmaceuticals (NASDAQ:AGIO) had its price objective hoisted by stock analysts at Bank of America from $40.00 to $46.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Bank of America‘s price target suggests a potential upside of 23.03% from the stock’s previous close.

Several other research firms have also recently commented on AGIO. HC Wainwright cut their price objective on shares of Agios Pharmaceuticals from $65.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Truist Financial lowered their target price on Agios Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, April 30th. JPMorgan Chase & Co. dropped their price target on Agios Pharmaceuticals from $36.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, June 11th. The Goldman Sachs Group boosted their price target on Agios Pharmaceuticals from $28.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, April 1st. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Agios Pharmaceuticals in a report on Wednesday, June 24th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $42.11.

Agios Pharmaceuticals Stock Performance

Shares of AGIO opened at $37.39 on Tuesday. The stock has a 50 day simple moving average of $30.43 and a 200 day simple moving average of $29.41. Agios Pharmaceuticals has a 52-week low of $22.24 and a 52-week high of $46.00. The firm has a market capitalization of $2.22 billion, a PE ratio of -5.16 and a beta of 0.54.

Agios Pharmaceuticals (NASDAQ:AGIO) last announced its earnings results on Wednesday, April 29th. The biopharmaceutical company reported ($1.69) EPS for the quarter, topping the consensus estimate of ($1.81) by $0.12. Agios Pharmaceuticals had a negative net margin of 639.84% and a negative return on equity of 34.11%. The firm had revenue of $20.75 million for the quarter, compared to the consensus estimate of $13.30 million. Agios Pharmaceuticals’s revenue for the quarter was up 137.7% compared to the same quarter last year. Equities research analysts predict that Agios Pharmaceuticals will post -6.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Agios Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. bought a new position in shares of Agios Pharmaceuticals in the 4th quarter valued at about $25,000. Assetmark Inc. raised its holdings in Agios Pharmaceuticals by 37.9% during the fourth quarter. Assetmark Inc. now owns 1,317 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 362 shares in the last quarter. NewEdge Advisors LLC acquired a new position in Agios Pharmaceuticals during the first quarter valued at approximately $40,000. Caitong International Asset Management Co. Ltd acquired a new position in Agios Pharmaceuticals during the fourth quarter valued at approximately $49,000. Finally, Quantbot Technologies LP bought a new position in Agios Pharmaceuticals in the third quarter valued at approximately $79,000.

Agios Pharmaceuticals Company Profile

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.