Bank of America Issues Pessimistic Forecast for Agios Pharmaceuticals (NASDAQ:AGIO) Stock Price

Agios Pharmaceuticals (NASDAQ:AGIO) had its price objective decreased by investment analysts at Bank of America from $41.00 to $40.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Bank of America‘s price target indicates a potential upside of 34.05% from the stock’s current price.

A number of other equities research analysts have also weighed in on the stock. Truist Financial dropped their price objective on shares of Agios Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Weiss Ratings reiterated a “sell (d)” rating on shares of Agios Pharmaceuticals in a report on Friday, March 27th. The Goldman Sachs Group lifted their price target 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. Citigroup boosted their price objective on shares of Agios Pharmaceuticals from $38.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Finally, HC Wainwright dropped their price target on shares of 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 research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $41.44.

Agios Pharmaceuticals Stock Down 1.9%

Shares of NASDAQ AGIO traded down $0.58 during midday trading on Friday, reaching $29.84. The company had a trading volume of 725,750 shares, compared to its average volume of 991,373. The stock has a market cap of $1.77 billion, a PE ratio of -4.12 and a beta of 0.58. The firm’s fifty day moving average price is $29.65 and its 200-day moving average price is $29.16. Agios Pharmaceuticals has a one year low of $22.24 and a one year high of $46.00.

Agios Pharmaceuticals (NASDAQ:AGIO) last released its quarterly earnings results on Wednesday, April 29th. The biopharmaceutical company reported ($1.69) earnings per share for the quarter, beating the consensus estimate of ($1.81) by $0.12. The firm had revenue of $20.75 million for the quarter, compared to analysts’ expectations of $13.30 million. Agios Pharmaceuticals had a negative return on equity of 34.11% and a negative net margin of 639.84%.The firm’s revenue was up 137.7% compared to the same quarter last year. As a group, equities research analysts expect that Agios Pharmaceuticals will post -6.17 EPS for the current year.

Insider Activity

In other news, CFO Cecilia Jones sold 3,141 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $34.71, for a total transaction of $109,024.11. Following the completion of the transaction, the chief financial officer directly owned 54,998 shares of the company’s stock, valued at $1,908,980.58. This trade represents a 5.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 firm’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 $113,848.80. Following the transaction, the insider directly owned 49,306 shares of the company’s stock, valued at $1,711,411.26. This represents a 6.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. In the last ninety days, insiders sold 15,582 shares of company stock worth $520,405. Corporate insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Agios Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC boosted its position in Agios Pharmaceuticals by 66.8% during the first quarter. AQR Capital Management LLC now owns 51,489 shares of the biopharmaceutical company’s stock worth $1,498,000 after purchasing an additional 20,625 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Agios Pharmaceuticals by 7.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,327 shares of the biopharmaceutical company’s stock worth $1,274,000 after purchasing an additional 2,920 shares during the period. NewEdge Advisors LLC bought a new position in Agios Pharmaceuticals during the first quarter worth $40,000. Goldman Sachs Group Inc. boosted its position in Agios Pharmaceuticals by 16.1% during the first quarter. Goldman Sachs Group Inc. now owns 658,652 shares of the biopharmaceutical company’s stock worth $19,299,000 after purchasing an additional 91,482 shares during the period. Finally, Woodline Partners LP bought a new position in Agios Pharmaceuticals during the first quarter worth $597,000.

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.