HC Wainwright Has Lowered Expectations for Agios Pharmaceuticals (NASDAQ:AGIO) Stock Price

Agios Pharmaceuticals (NASDAQ:AGIO) had its price objective lowered by stock analysts at HC Wainwright from $54.00 to $52.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target suggests a potential upside of 40.18% from the stock’s current price.

Several other research analysts also recently issued reports on AGIO. Weiss Ratings reiterated a “sell (d)” rating on shares of Agios Pharmaceuticals in a research note on Wednesday, June 24th. Royal Bank Of Canada raised their price target on shares of Agios Pharmaceuticals from $28.00 to $32.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 7th. The Goldman Sachs Group boosted their price objective on shares of Agios Pharmaceuticals from $28.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, April 1st. JPMorgan Chase & Co. lowered their price objective on Agios Pharmaceuticals from $36.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, June 11th. Finally, Bank of America increased their target price on Agios Pharmaceuticals from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Six 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $42.78.

Agios Pharmaceuticals Stock Performance

Shares of AGIO traded down $2.96 during trading hours on Tuesday, hitting $37.09. The company had a trading volume of 1,340,015 shares, compared to its average volume of 1,028,165. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of -5.12 and a beta of 0.54. The firm has a fifty day moving average price of $33.26 and a 200-day moving average price of $30.43. Agios Pharmaceuticals has a 52-week low of $22.24 and a 52-week high of $46.00.

Agios Pharmaceuticals (NASDAQ:AGIO) last announced its quarterly earnings data on Wednesday, April 29th. The biopharmaceutical company reported ($1.69) EPS for the quarter, beating the consensus estimate of ($1.81) by $0.12. The company had revenue of $20.75 million for the quarter, compared to the consensus estimate of $13.30 million. Agios Pharmaceuticals had a negative net margin of 639.84% and a negative return on equity of 34.11%. The firm’s revenue for the quarter was up 137.7% compared to the same quarter last year. Research analysts anticipate that Agios Pharmaceuticals will post -6.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Agios Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the stock. Creative Planning boosted its position in shares of Agios Pharmaceuticals by 2.2% during the 3rd quarter. Creative Planning now owns 13,119 shares of the biopharmaceutical company’s stock valued at $527,000 after acquiring an additional 280 shares during the last quarter. Assetmark Inc. grew its holdings in shares of Agios Pharmaceuticals by 37.9% in the fourth quarter. Assetmark Inc. now owns 1,317 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 362 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Agios Pharmaceuticals by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 132,083 shares of the biopharmaceutical company’s stock worth $4,393,000 after purchasing an additional 512 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Agios Pharmaceuticals by 26.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,834 shares of the biopharmaceutical company’s stock worth $77,000 after purchasing an additional 588 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its position in Agios Pharmaceuticals by 3.4% in the third quarter. CANADA LIFE ASSURANCE Co now owns 20,325 shares of the biopharmaceutical company’s stock worth $796,000 after purchasing an additional 662 shares during the last quarter.

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.