HC Wainwright Cuts Agios Pharmaceuticals (NASDAQ:AGIO) Price Target to $50.00

Agios Pharmaceuticals (NASDAQ:AGIO) had its price target reduced by HC Wainwright from $65.00 to $50.00 in a research report report published on Monday, Marketbeat.com reports. They currently have a buy rating on the biopharmaceutical company’s stock.

AGIO has been the topic of several other research reports. The Goldman Sachs Group lifted their target price on Agios Pharmaceuticals from $28.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, April 1st. Bank of America lifted their target price on Agios Pharmaceuticals from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, December 24th. Wall Street Zen upgraded Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. Truist Financial boosted their price target on Agios Pharmaceuticals from $32.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, December 24th. Finally, Citigroup boosted their price target on Agios Pharmaceuticals from $38.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $41.78.

Agios Pharmaceuticals Price Performance

AGIO opened at $26.72 on Monday. The business’s 50-day moving average is $30.10 and its two-hundred day moving average is $31.61. Agios Pharmaceuticals has a 1 year low of $22.24 and a 1 year high of $46.00. The firm has a market capitalization of $1.57 billion, a PE ratio of -3.76 and a beta of 0.79.

Insider Buying and Selling

In other news, insider Sarah Gheuens sold 2,940 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $34.71, for a total transaction of $102,047.40. Following the completion of the transaction, the insider directly owned 80,277 shares of the company’s stock, valued at $2,786,414.67. This represents a 3.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider James William Burns sold 3,280 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $34.71, for a total value of $113,848.80. Following the transaction, the insider directly owned 49,306 shares of the company’s stock, valued at approximately $1,711,411.26. The trade was a 6.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 15,582 shares of company stock valued at $520,405 in the last three months. 4.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Wellington Management Group LLP grew its holdings in Agios Pharmaceuticals by 485.5% in the 3rd 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. MPM Bioimpact LLC purchased a new stake in Agios Pharmaceuticals in the 4th quarter valued at $35,478,000. State Street Corp grew its holdings in 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 buying an additional 845,433 shares in the last quarter. TCG Crossover Management LLC grew its holdings in shares of Agios Pharmaceuticals by 105.2% during the 3rd quarter. TCG Crossover Management LLC now owns 1,430,041 shares of the biopharmaceutical company’s stock worth $57,402,000 after purchasing an additional 733,038 shares during the period. Finally, Capital International Investors purchased a new position in shares of Agios Pharmaceuticals during the 4th quarter worth $19,159,000.

About Agios Pharmaceuticals

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.