Agios Pharmaceuticals (NASDAQ:AGIO) Price Target Cut to $32.00 by Analysts at Bank of America

Agios Pharmaceuticals (NASDAQ:AGIO) had its target price cut by analysts at Bank of America from $54.00 to $32.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Bank of America‘s target price indicates a potential upside of 43.24% from the company’s previous close.

Several other equities analysts have also recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $56.00 price target on shares of Agios Pharmaceuticals in a research report on Thursday, September 4th. Leerink Partners raised Agios Pharmaceuticals from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $40.00 to $34.00 in a research report on Thursday. Wall Street Zen raised Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Scotiabank dropped their price target on Agios Pharmaceuticals from $71.00 to $65.00 and set a “sector outperform” rating on the stock in a research report on Monday, July 28th. Finally, Zacks Research upgraded Agios Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $38.67.

Agios Pharmaceuticals Stock Down 50.9%

Shares of Agios Pharmaceuticals stock opened at $22.34 on Thursday. The business has a 50 day moving average of $40.38 and a 200 day moving average of $36.91. Agios Pharmaceuticals has a 52 week low of $22.24 and a 52 week high of $62.45. The company has a market cap of $1.30 billion, a PE ratio of -3.19 and a beta of 0.89.

Agios Pharmaceuticals (NASDAQ:AGIO) last released its quarterly 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. Agios Pharmaceuticals had a negative net margin of 895.86% and a negative return on equity of 28.35%. The business had revenue of $12.90 million for the quarter, compared to analysts’ expectations of $10.49 million. During the same quarter in the previous year, the business posted $16.22 earnings per share. The firm’s revenue for the quarter was up 43.3% compared to the same quarter last year. On average, research analysts anticipate that Agios Pharmaceuticals will post -6.85 earnings per share for the current year.

Insider Activity

In other Agios Pharmaceuticals news, insider Sarah Gheuens sold 3,302 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $43.92, for a total transaction of $145,023.84. Following the transaction, the insider owned 61,727 shares in the company, valued at approximately $2,711,049.84. This represents a 5.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Theodore James Jr. Washburn sold 8,546 shares of Agios Pharmaceuticals stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $36.87, for a total transaction of $315,091.02. Following the completion of the sale, the insider owned 868 shares of the company’s stock, valued at $32,003.16. This represents a 90.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,099 shares of company stock worth $620,092 over the last 90 days. 4.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Agios Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. Creative Planning increased its position in Agios Pharmaceuticals by 2.2% during the third 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. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Agios Pharmaceuticals by 16.7% during the 2nd 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 during the period. PNC Financial Services Group Inc. increased its position in shares of Agios Pharmaceuticals by 16.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,582 shares of the biopharmaceutical company’s stock valued at $105,000 after purchasing an additional 499 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Agios Pharmaceuticals by 0.4% in the 2nd 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 period. Finally, Nordea Investment Management AB lifted its stake in shares of Agios Pharmaceuticals by 0.3% in the 2nd quarter. Nordea Investment Management AB now owns 224,746 shares of the biopharmaceutical company’s stock worth $7,520,000 after purchasing an additional 573 shares during the period.

Agios Pharmaceuticals Company Profile

Agios Pharmaceuticals, Inc, a biopharmaceutical company, discovers and develops medicines in the field of cellular metabolism in the United States. Its lead product includes PYRUKYND (mitapivat), an activator of wild-type and mutant pyruvate kinase (PK), enzymes for the treatment of hemolytic anemias.