Agios Pharmaceuticals (NASDAQ:AGIO) Price Target Raised to $50.00

Agios Pharmaceuticals (NASDAQ:AGIO) had its target price hoisted by equities research analysts at Bank of America from $46.00 to $50.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Bank of America‘s price target would suggest a potential upside of 49.30% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. HC Wainwright lifted their price target on shares of Agios Pharmaceuticals from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. JPMorgan Chase & Co. raised their target price on Agios Pharmaceuticals from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Royal Bank Of Canada lifted their target price on Agios Pharmaceuticals from $28.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 7th. Truist Financial dropped their target price on Agios Pharmaceuticals from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Agios Pharmaceuticals in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Agios Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $41.75.

Agios Pharmaceuticals Trading Up 1.3%

NASDAQ:AGIO traded up $0.42 during trading hours on Monday, hitting $33.49. The stock had a trading volume of 321,816 shares, compared to its average volume of 1,037,423. The company has a market cap of $2.00 billion, a PE ratio of -4.77 and a beta of 0.60. The business has a 50 day simple moving average of $34.41 and a two-hundred day simple moving average of $32.16. Agios Pharmaceuticals has a 1-year low of $22.24 and a 1-year high of $46.00.

Agios Pharmaceuticals (NASDAQ:AGIO) last posted its earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.69) EPS for the quarter, missing analysts’ consensus estimates of ($1.65) by ($0.04). The firm had revenue of $44.75 million for the quarter, compared to analyst estimates of $26.39 million. Agios Pharmaceuticals had a negative return on equity of 35.67% and a negative net margin of 418.24%. Research analysts expect that Agios Pharmaceuticals will post -5.82 EPS for the current fiscal year.

Insider Transactions at Agios Pharmaceuticals

In other Agios Pharmaceuticals news, insider Sarah Gheuens sold 30,000 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $30.48, for a total transaction of $914,400.00. Following the transaction, the insider directly owned 54,645 shares in the company, valued at $1,665,579.60. This represents a 35.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Agios Pharmaceuticals

Several large investors have recently modified their holdings of the stock. Nykredit A S acquired a new position in Agios Pharmaceuticals in the second quarter worth about $26,000. Quantbot Technologies LP bought a new stake in Agios Pharmaceuticals in the second quarter valued at about $43,000. Integrated Wealth Concepts LLC acquired a new stake in Agios Pharmaceuticals during the second quarter valued at approximately $47,000. Allworth Financial LP bought a new position in Agios Pharmaceuticals during the 2nd quarter worth approximately $73,000. Finally, Versant Capital Management Inc lifted its holdings in Agios Pharmaceuticals by 378.7% during the 2nd quarter. Versant Capital Management Inc now owns 2,001 shares of the biopharmaceutical company’s stock worth $74,000 after buying an additional 1,583 shares during the last quarter.

Agios Pharmaceuticals Company Profile

Agios Pharmaceuticals, Inc is a biopharmaceutical company focused on discovering and developing medicines for rare diseases, with an emphasis on disorders involving cellular metabolism. The company’s research has centered on small-molecule therapies designed to address underlying biological mechanisms rather than only treating symptoms.

Agios’ principal commercial product is Pyrukynd (mitapivat), an oral activator of pyruvate kinase approved in the United States and other markets for the treatment of hemolytic anemia associated with pyruvate kinase deficiency in adults.