Agios Pharmaceuticals (NASDAQ:AGIO) Coverage Initiated at Citigroup

Equities researchers at Citigroup started coverage on shares of Agios Pharmaceuticals (NASDAQ:AGIO) in a research report issued to clients and investors on Wednesday, Marketbeat reports. The brokerage set a “buy” rating on the biopharmaceutical company’s stock.

Several other analysts have also recently weighed in on the stock. Truist Financial set a $32.00 price target on shares of Agios Pharmaceuticals in a research note on Monday. Bank of America lowered their price objective on Agios Pharmaceuticals from $54.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Weiss Ratings restated a “sell (d)” rating on shares of Agios Pharmaceuticals in a research report on Tuesday. JPMorgan Chase & Co. decreased their price target on Agios Pharmaceuticals from $37.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, November 21st. Finally, Leerink Partners upgraded shares of Agios Pharmaceuticals from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $40.00 to $34.00 in a report on Thursday, November 20th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Agios Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $35.78.

Agios Pharmaceuticals Trading Up 0.7%

Shares of AGIO stock opened at $29.26 on Wednesday. The company’s 50-day moving average price is $39.05 and its 200-day moving average price is $36.80. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of -4.18 and a beta of 0.89. Agios Pharmaceuticals has a twelve month low of $22.24 and a twelve month high of $62.45.

Agios Pharmaceuticals (NASDAQ:AGIO) last announced its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported ($1.78) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 $12.88 million during the quarter, compared to analyst estimates of $10.49 million. During the same quarter in the prior year, the firm posted $16.22 earnings per share. Agios Pharmaceuticals’s quarterly revenue was up 43.3% on a year-over-year basis. As a group, equities research analysts predict that Agios Pharmaceuticals will post -6.85 EPS for the current year.

Insider Activity

In other Agios Pharmaceuticals news, CFO Cecilia Jones sold 3,651 shares of Agios Pharmaceuticals stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $36.77, for a total transaction of $134,247.27. Following the completion of the sale, the chief financial officer directly owned 33,870 shares of the company’s stock, valued at $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 is available at this link. Also, insider Sarah Gheuens sold 3,302 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $43.92, for a total value of $145,023.84. Following the completion of the transaction, the insider directly owned 61,727 shares of the company’s stock, valued at $2,711,049.84. This trade represents a 5.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 16,099 shares of company stock valued at $620,092. 4.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Agios Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bellevue Group AG grew its stake in Agios Pharmaceuticals by 3.5% during the 3rd quarter. Bellevue Group AG now owns 3,714,736 shares of the biopharmaceutical company’s stock worth $149,110,000 after buying an additional 124,586 shares during the last quarter. Erste Asset Management GmbH increased 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 acquiring an additional 438,411 shares during the period. Wellington Management Group LLP raised 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 purchasing an additional 2,049,287 shares in the last quarter. Commodore Capital LP raised its holdings in Agios Pharmaceuticals by 0.6% during the third quarter. Commodore Capital LP now owns 2,338,287 shares of the biopharmaceutical company’s stock worth $93,859,000 after purchasing an additional 13,287 shares in the last quarter. Finally, TCG Crossover Management LLC lifted 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 purchasing an additional 733,038 shares during the period.

About Agios Pharmaceuticals

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.