Truist Financial Forecasts Strong Price Appreciation for Agios Pharmaceuticals (NASDAQ:AGIO) Stock

Agios Pharmaceuticals (NASDAQ:AGIO) had its target price upped by Truist Financial from $36.00 to $41.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Truist Financial’s price target would indicate a potential upside of 9.65% from the stock’s current price.

A number of other equities analysts have also weighed in on the stock. The Goldman Sachs Group upped their target price on shares of Agios Pharmaceuticals from $28.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 1st. Bank of America boosted their price target on Agios Pharmaceuticals from $40.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday. Wall Street Zen raised Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Agios Pharmaceuticals in a report on Wednesday, June 24th. Finally, HC Wainwright dropped their target price on Agios Pharmaceuticals from $65.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. 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. According to data from MarketBeat.com, Agios Pharmaceuticals has a consensus rating of “Hold” and a consensus 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.

Hedge Funds Weigh In On Agios Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in Agios Pharmaceuticals by 485.5% during the third quarter. Wellington Management Group LLP now owns 2,471,416 shares of the biopharmaceutical company’s stock worth $99,203,000 after buying an additional 2,049,287 shares during the last quarter. MPM Bioimpact LLC acquired a new stake in Agios Pharmaceuticals in the fourth quarter valued at $35,478,000. State Street Corp grew its position in shares of Agios Pharmaceuticals by 37.4% in the 4th quarter. State Street Corp now owns 3,108,145 shares of the biopharmaceutical company’s stock valued at $84,604,000 after acquiring an additional 845,433 shares during the period. TCG Crossover Management LLC grew its position in shares of Agios Pharmaceuticals by 105.2% in the 3rd quarter. TCG Crossover Management LLC now owns 1,430,041 shares of the biopharmaceutical company’s stock valued at $57,402,000 after acquiring an additional 733,038 shares during the period. Finally, Capital International Investors acquired a new position in shares of Agios Pharmaceuticals during the 4th quarter worth about $19,159,000.

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.