Agios Pharmaceuticals (NASDAQ:AGIO) Shares Gap Up Following Analyst Upgrade

Agios Pharmaceuticals, Inc. (NASDAQ:AGIO)’s stock price gapped up prior to trading on Tuesday after Truist Financial raised their price target on the stock from $36.00 to $41.00. The stock had previously closed at $37.39, but opened at $39.38. Truist Financial currently has a buy rating on the stock. Agios Pharmaceuticals shares last traded at $42.4870, with a volume of 383,278 shares trading hands.

A number of other equities analysts also recently commented on the stock. Bank of America lifted their target price on shares of Agios Pharmaceuticals from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Agios Pharmaceuticals in a research report on Wednesday, June 24th. JPMorgan Chase & Co. lowered their price objective on Agios Pharmaceuticals from $36.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, June 11th. 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 report on Wednesday, April 1st. Finally, HC Wainwright decreased their price target on Agios Pharmaceuticals from $65.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Agios Pharmaceuticals has a consensus rating of “Hold” and an average target price of $42.56.

Institutional Trading of Agios Pharmaceuticals

A number of large investors have recently made changes to their positions in AGIO. Bellevue Group AG raised its position in shares of 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 acquiring an additional 124,586 shares in the last quarter. State Street Corp boosted its holdings in Agios Pharmaceuticals by 37.4% in the fourth quarter. State Street Corp now owns 3,108,145 shares of the biopharmaceutical company’s stock valued at $84,604,000 after purchasing an additional 845,433 shares in the last quarter. Erste Asset Management GmbH increased its stake in Agios Pharmaceuticals by 1.4% in the fourth quarter. Erste Asset Management GmbH now owns 2,804,900 shares of the biopharmaceutical company’s stock valued at $76,343,000 after purchasing an additional 40,000 shares during the last quarter. 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. Finally, Commodore Capital LP lifted its position in shares of Agios Pharmaceuticals by 0.6% during the 3rd quarter. Commodore Capital LP now owns 2,338,287 shares of the biopharmaceutical company’s stock worth $93,859,000 after buying an additional 13,287 shares during the last quarter.

Agios Pharmaceuticals Stock Performance

The firm’s 50-day moving average price is $30.43 and its two-hundred day moving average price is $29.41. The firm has a market cap of $2.48 billion, a PE ratio of -5.75 and a beta of 0.54.

Agios Pharmaceuticals (NASDAQ:AGIO) last released its quarterly earnings results on Wednesday, April 29th. The biopharmaceutical company reported ($1.69) EPS for the quarter, topping the consensus estimate of ($1.81) by $0.12. Agios Pharmaceuticals had a negative return on equity of 34.11% and a negative net margin of 639.84%.The business had revenue of $20.75 million during the quarter, compared to analysts’ expectations of $13.30 million. The business’s revenue for the quarter was up 137.7% compared to the same quarter last year. As a group, sell-side analysts predict that Agios Pharmaceuticals, Inc. will post -6.28 earnings per share for the current fiscal year.

Agios Pharmaceuticals Company Profile

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.