Bank of America Issues Positive Forecast for Agios Pharmaceuticals (NASDAQ:AGIO) Stock Price

Agios Pharmaceuticals (NASDAQ:AGIO) had its target price boosted by Bank of America from $32.00 to $34.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Bank of America‘s price target points to a potential upside of 38.27% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Wall Street Zen downgraded Agios Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Leerink Partners upgraded shares of Agios Pharmaceuticals from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $40.00 to $34.00 in a research note on Thursday, November 20th. Citigroup began coverage on shares of Agios Pharmaceuticals in a research report on Wednesday, November 26th. They set a “buy” rating and a $38.00 price objective on the stock. HC Wainwright reduced their target price on shares of Agios Pharmaceuticals from $56.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, November 20th. Finally, Royal Bank Of Canada downgraded shares of Agios Pharmaceuticals from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $57.00 to $28.00 in a research note on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Agios Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $36.00.

Agios Pharmaceuticals Stock Performance

Shares of AGIO stock opened at $24.59 on Wednesday. The stock’s 50-day moving average is $34.53 and its two-hundred day moving average is $36.36. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -3.51 and a beta of 0.87. 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, October 30th. The biopharmaceutical company reported ($1.78) earnings per share for the quarter, beating the consensus estimate of ($1.93) by $0.15. The business had revenue of $12.88 million during the quarter, compared to the consensus estimate of $10.49 million. Agios Pharmaceuticals had a negative return on equity of 28.35% and a negative net margin of 895.86%.The business’s quarterly revenue was up 43.3% on a year-over-year basis. During the same period in the previous year, the business earned $16.22 EPS. As a group, research analysts predict that Agios Pharmaceuticals will post -6.85 EPS for the current year.

Insider Buying and Selling

In related news, CFO Cecilia Jones sold 3,651 shares of the company’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $36.77, for a total transaction of $134,247.27. Following the transaction, the chief financial officer owned 33,870 shares of the company’s stock, valued at $1,245,399.90. This represents a 9.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sarah Gheuens sold 3,302 shares of the firm’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 completion of the sale, the insider directly owned 61,727 shares of the company’s stock, valued at approximately $2,711,049.84. This trade represents a 5.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 7,553 shares of company stock worth $305,001. Company insiders own 4.93% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AGIO. NewEdge Advisors LLC acquired a new stake in shares of Agios Pharmaceuticals during the 1st quarter valued at approximately $40,000. First Horizon Corp purchased a new position in Agios Pharmaceuticals in the 3rd quarter valued at approximately $45,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Agios Pharmaceuticals by 16.7% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,237 shares of the biopharmaceutical company’s stock worth $74,000 after purchasing an additional 320 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Agios Pharmaceuticals during the third quarter worth $79,000. Finally, Acadian Asset Management LLC acquired a new stake in Agios Pharmaceuticals in the first quarter valued at $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.