Agios Pharmaceuticals (NASDAQ:AGIO) Given New $31.00 Price Target at JPMorgan Chase & Co.

Agios Pharmaceuticals (NASDAQ:AGIO) had its price target cut by stock analysts at JPMorgan Chase & Co. from $36.00 to $31.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 9.02% from the stock’s current price.

Several other research firms have also weighed in on AGIO. The Goldman Sachs Group boosted their target price on shares of Agios Pharmaceuticals from $28.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, April 1st. Weiss Ratings reiterated a “sell (d)” rating on shares of Agios Pharmaceuticals in a research note on Friday, March 27th. Citigroup boosted their target price on shares of Agios Pharmaceuticals from $38.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Wall Street Zen upgraded shares of Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. Finally, HC Wainwright lowered their target price on shares of Agios Pharmaceuticals from $65.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Agios Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $40.89.

Agios Pharmaceuticals Stock Down 1.5%

AGIO stock traded down $0.45 during trading on Thursday, hitting $28.43. 205,181 shares of the company’s stock traded hands, compared to its average volume of 979,143. Agios Pharmaceuticals has a 52 week low of $22.24 and a 52 week high of $46.00. The stock has a fifty day moving average price of $29.54 and a two-hundred day moving average price of $28.46. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of -3.93 and a beta of 0.59.

Agios Pharmaceuticals (NASDAQ:AGIO) last released its 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. Agios Pharmaceuticals had a negative net margin of 639.84% and a negative return on equity of 34.11%. The firm had revenue of $20.75 million during the quarter, compared to analyst estimates of $13.30 million. The business’s revenue was up 137.7% on a year-over-year basis. As a group, equities research analysts expect that Agios Pharmaceuticals will post -6.2 EPS for the current fiscal year.

Insider Activity

In other news, insider Tsveta Milanova sold 3,262 shares of the company’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $34.71, for a total transaction of $113,224.02. Following the completion of the transaction, the insider owned 46,829 shares in the company, valued at approximately $1,625,434.59. This represents a 6.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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, CFO Cecilia Jones sold 3,141 shares of the company’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $34.71, for a total transaction of $109,024.11. Following the transaction, the chief financial officer owned 54,998 shares of the company’s stock, valued at $1,908,980.58. This represents a 5.40% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 have sold a total of 12,623 shares of company stock worth $438,144 over the last ninety days. Insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Agios Pharmaceuticals

Institutional investors have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. acquired a new stake in Agios Pharmaceuticals in the 4th quarter valued at about $25,000. Assetmark Inc. lifted its holdings in Agios Pharmaceuticals by 37.9% in the 4th quarter. Assetmark Inc. now owns 1,317 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 362 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in Agios Pharmaceuticals in the 1st quarter valued at about $40,000. Caitong International Asset Management Co. Ltd acquired a new stake in Agios Pharmaceuticals in the 4th quarter valued at about $49,000. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in Agios Pharmaceuticals in the 4th quarter valued at about $72,000.

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.