Agios Pharmaceuticals (NASDAQ:AGIO) Price Target Raised to $38.00

Agios Pharmaceuticals (NASDAQ:AGIO) had its price objective raised by Truist Financial from $32.00 to $38.00 in a research report report published on Wednesday, MarketBeat reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

A number of other research analysts also recently issued reports on AGIO. Leerink Partnrs upgraded Agios Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 20th. Zacks Research upgraded shares of Agios Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. HC Wainwright decreased their price objective on shares of Agios Pharmaceuticals from $56.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Bank of America lifted their target price on shares of Agios Pharmaceuticals from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, The Goldman Sachs Group cut their price target on Agios Pharmaceuticals from $40.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, November 20th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.89.

Agios Pharmaceuticals Price Performance

Shares of Agios Pharmaceuticals stock opened at $28.02 on Wednesday. Agios Pharmaceuticals has a 1-year low of $22.24 and a 1-year high of $46.00. The company’s fifty day simple moving average is $33.74 and its 200-day simple moving average is $36.22. The stock has a market capitalization of $1.63 billion, a PE ratio of -4.00 and a beta of 0.87.

Agios Pharmaceuticals (NASDAQ:AGIO) last announced its earnings results on Thursday, October 30th. The biopharmaceutical company reported ($1.78) EPS for the quarter, topping analysts’ consensus estimates of ($1.93) by $0.15. The company had revenue of $12.88 million for the quarter, compared to analysts’ expectations of $10.49 million. Agios Pharmaceuticals had a negative return on equity of 28.35% and a negative net margin of 895.86%.Agios Pharmaceuticals’s revenue for the quarter was up 43.3% compared to the same quarter last year. During the same period last year, the firm earned $16.22 EPS. As a group, research analysts anticipate that Agios Pharmaceuticals will post -6.85 EPS for the current year.

Insider Buying and Selling

In other Agios Pharmaceuticals news, insider Sarah Gheuens sold 3,302 shares of the business’s stock in a transaction 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 sale, the insider owned 61,727 shares in the company, valued at $2,711,049.84. The trade was a 5.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 3,902 shares of company stock valued at $170,754. 4.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Agios Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC purchased a new position in Agios Pharmaceuticals during the 1st quarter valued at approximately $40,000. First Horizon Corp bought a new position in shares of Agios Pharmaceuticals during the 3rd quarter valued at approximately $45,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Agios Pharmaceuticals by 16.7% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,237 shares of the biopharmaceutical company’s stock valued at $74,000 after purchasing an additional 320 shares in the last quarter. Quantbot Technologies LP bought a new stake in Agios Pharmaceuticals in the third quarter worth $79,000. Finally, Acadian Asset Management LLC bought a new stake in Agios Pharmaceuticals in the first quarter worth $133,000.

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.