JPMorgan Chase & Co. Cuts Agios Pharmaceuticals (NASDAQ:AGIO) Price Target to $20.00

Agios Pharmaceuticals (NASDAQ:AGIO) had its price target reduced by equities research analysts at JPMorgan Chase & Co. from $37.00 to $20.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 19.73% from the stock’s current price.

Several other analysts have also recently weighed in on the company. HC Wainwright dropped their price target on Agios Pharmaceuticals from $56.00 to $48.00 and set a “buy” rating for the company in a report on Thursday. Wall Street Zen upgraded Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Leerink Partners raised Agios Pharmaceuticals from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $40.00 to $34.00 in a report on Thursday. The Goldman Sachs Group reduced their target price on shares of Agios Pharmaceuticals from $40.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Scotiabank decreased their price target on shares of Agios Pharmaceuticals from $71.00 to $65.00 and set a “sector outperform” rating on the stock in a research note on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Agios Pharmaceuticals Stock Performance

Shares of AGIO stock traded up $0.35 during midday trading on Friday, hitting $24.92. 2,405,380 shares of the company were exchanged, compared to its average volume of 807,962. The firm has a market capitalization of $1.45 billion, a P/E ratio of -3.56 and a beta of 0.89. The firm’s 50 day moving average price is $40.14 and its two-hundred day moving average price is $36.82. Agios Pharmaceuticals has a 52 week low of $22.24 and a 52 week high of $62.45.

Agios Pharmaceuticals (NASDAQ:AGIO) last released its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported ($1.78) earnings per share for the quarter, beating the consensus estimate of ($1.93) by $0.15. Agios Pharmaceuticals had a negative net margin of 895.86% and a negative return on equity of 28.35%. The firm had revenue of $12.90 million for the quarter, compared to analysts’ expectations of $10.49 million. During the same period in the prior year, the firm earned $16.22 EPS. The business’s revenue was up 43.3% on a year-over-year basis. Analysts expect that Agios Pharmaceuticals will post -6.85 EPS for the current year.

Insider Buying and Selling at Agios Pharmaceuticals

In other news, CFO Cecilia Jones sold 3,651 shares of the business’s stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $36.77, for a total value of $134,247.27. Following the completion of the transaction, the chief financial officer directly owned 33,870 shares in the company, valued at approximately $1,245,399.90. The trade was a 9.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Theodore James Jr. Washburn sold 8,546 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $36.87, for a total transaction of $315,091.02. Following the sale, the insider directly owned 868 shares of the company’s stock, valued at approximately $32,003.16. This trade represents a 90.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,099 shares of company stock valued at $620,092 in the last ninety days. 4.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Agios Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in AGIO. Bellevue Group AG increased its stake in shares of Agios Pharmaceuticals by 3.5% in the 3rd quarter. Bellevue Group AG now owns 3,714,736 shares of the biopharmaceutical company’s stock valued at $149,110,000 after purchasing an additional 124,586 shares during the last quarter. Erste Asset Management GmbH lifted its position in shares of Agios Pharmaceuticals by 18.8% during the 3rd quarter. Erste Asset Management GmbH now owns 2,764,900 shares of the biopharmaceutical company’s stock worth $108,578,000 after buying an additional 438,411 shares during the last quarter. Wellington Management Group LLP boosted its stake in Agios Pharmaceuticals by 485.5% in the third quarter. Wellington Management Group LLP now owns 2,471,416 shares of the biopharmaceutical company’s stock valued at $99,203,000 after buying an additional 2,049,287 shares in the last quarter. Commodore Capital LP grew its position in Agios Pharmaceuticals by 0.6% in the third quarter. Commodore Capital LP now owns 2,338,287 shares of the biopharmaceutical company’s stock valued at $93,859,000 after acquiring an additional 13,287 shares during the last quarter. Finally, TCG Crossover Management LLC grew its position in Agios Pharmaceuticals by 105.2% in the third 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 last quarter.

Agios Pharmaceuticals Company Profile

Agios Pharmaceuticals, Inc, a biopharmaceutical company, discovers and develops medicines in the field of cellular metabolism in the United States. Its lead product includes PYRUKYND (mitapivat), an activator of wild-type and mutant pyruvate kinase (PK), enzymes for the treatment of hemolytic anemias.