Agios Pharmaceuticals (NASDAQ:AGIO) Price Target Raised to $50.00

Agios Pharmaceuticals (NASDAQ:AGIO) had its price target boosted by Bank of America from $46.00 to $50.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other brokerages have also issued reports on AGIO. HC Wainwright upped their target price on Agios Pharmaceuticals from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. raised their price target on Agios Pharmaceuticals from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. TD Cowen upgraded Agios Pharmaceuticals to a “strong-buy” rating in a research note on Monday, August 24th. Royal Bank Of Canada upped their price objective on shares of Agios Pharmaceuticals from $28.00 to $32.00 and gave the company a “sector perform” rating in a report on Tuesday, July 7th. Finally, Truist Financial decreased their price objective on shares of Agios Pharmaceuticals from $41.00 to $39.00 and set a “buy” rating for the company in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have given 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 an average rating of “Moderate Buy” and an average target price of $41.75.

Agios Pharmaceuticals Trading Down 2.2%

NASDAQ AGIO opened at $34.19 on Monday. The firm’s fifty day simple moving average is $34.07 and its two-hundred day simple moving average is $32.29. Agios Pharmaceuticals has a 12-month low of $22.24 and a 12-month high of $46.00. The firm has a market capitalization of $2.04 billion, a P/E ratio of -4.88 and a beta of 0.60.

Agios Pharmaceuticals (NASDAQ:AGIO) last issued its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported ($1.69) EPS for the quarter, missing the consensus estimate of ($1.65) by ($0.04). The business had revenue of $44.75 million for the quarter, compared to analysts’ expectations of $26.39 million. Agios Pharmaceuticals had a negative net margin of 418.24% and a negative return on equity of 35.67%. As a group, sell-side analysts predict that Agios Pharmaceuticals will post -5.82 earnings per share for the current fiscal year.

Insider Transactions at Agios Pharmaceuticals

In related news, insider Sarah Gheuens sold 30,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $30.48, for a total value of $914,400.00. Following the completion of the transaction, the insider owned 54,645 shares in the company, valued at $1,665,579.60. This trade represents a 35.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.40% of the stock is owned by company insiders.

Institutional Trading of Agios Pharmaceuticals

Several large investors have recently added to or reduced their stakes in AGIO. Tidal Investments LLC increased its holdings in shares of Agios Pharmaceuticals by 12.0% in the second quarter. Tidal Investments LLC now owns 16,100 shares of the biopharmaceutical company’s stock valued at $597,000 after purchasing an additional 1,724 shares during the period. Engineers Gate Manager LP lifted its holdings in shares of Agios Pharmaceuticals by 86.4% during the second quarter. Engineers Gate Manager LP now owns 53,912 shares of the biopharmaceutical company’s stock worth $2,001,000 after purchasing an additional 24,992 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Agios Pharmaceuticals during the second quarter worth about $47,000. Squarepoint Ops LLC boosted its position in Agios Pharmaceuticals by 53.7% in the second quarter. Squarepoint Ops LLC now owns 321,138 shares of the biopharmaceutical company’s stock valued at $11,917,000 after buying an additional 112,250 shares during the last quarter. Finally, Allworth Financial LP boosted its position in Agios Pharmaceuticals by 2,798.5% in the second quarter. Allworth Financial LP now owns 1,971 shares of the biopharmaceutical company’s stock valued at $73,000 after buying an additional 1,903 shares during the last quarter.

Agios Pharmaceuticals Company Profile

Agios Pharmaceuticals, Inc is a biopharmaceutical company focused on discovering and developing medicines for rare diseases, with an emphasis on disorders involving cellular metabolism. The company’s research has centered on small-molecule therapies designed to address underlying biological mechanisms rather than only treating symptoms.

Agios’ principal commercial product is Pyrukynd (mitapivat), an oral activator of pyruvate kinase approved in the United States and other markets for the treatment of hemolytic anemia associated with pyruvate kinase deficiency in adults.