Agios Pharmaceuticals (NASDAQ:AGIO) Price Target Raised to $36.00

Agios Pharmaceuticals (NASDAQ:AGIO) had its price objective increased by JPMorgan Chase & Co. from $31.00 to $36.00 in a report released on Monday,Benzinga reports. They currently have a neutral rating on the biopharmaceutical company’s stock.

A number of other research firms have also commented on AGIO. Citigroup lifted their target price on Agios Pharmaceuticals from $38.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Weiss Ratings reissued a “sell (d)” rating on shares of Agios Pharmaceuticals in a report on Friday, March 27th. HC Wainwright lifted their target price on Agios Pharmaceuticals from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Leerink Partners lifted their target price on Agios Pharmaceuticals from $34.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, December 26th. Finally, The Goldman Sachs Group lifted their target price on Agios Pharmaceuticals from $28.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, April 1st. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Agios Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $42.67.

Agios Pharmaceuticals Trading Down 3.8%

Shares of NASDAQ:AGIO opened at $33.77 on Monday. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of -4.75 and a beta of 0.79. The stock has a fifty day simple moving average of $29.24 and a two-hundred day simple moving average of $32.11. Agios Pharmaceuticals has a 12-month low of $22.24 and a 12-month high of $46.00.

Insider Buying and Selling

In related news, CFO Cecilia Jones sold 3,141 shares of Agios Pharmaceuticals stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $34.71, for a total value of $109,024.11. Following the completion of the sale, the chief financial officer owned 54,998 shares of the company’s stock, valued at $1,908,980.58. The trade was a 5.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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, insider James William Burns sold 3,280 shares of Agios Pharmaceuticals stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $34.71, for a total value of $113,848.80. Following the completion of the sale, the insider directly owned 49,306 shares of the company’s stock, valued at $1,711,411.26. The trade was a 6.24% 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 15,582 shares of company stock valued at $520,405 over the last ninety days. 4.30% of the stock is owned by insiders.

Institutional Trading of Agios Pharmaceuticals

Large investors have recently modified their holdings of the company. AQR Capital Management LLC lifted its position in Agios Pharmaceuticals by 66.8% during the first quarter. AQR Capital Management LLC now owns 51,489 shares of the biopharmaceutical company’s stock valued at $1,498,000 after purchasing an additional 20,625 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Agios Pharmaceuticals by 7.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,327 shares of the biopharmaceutical company’s stock valued at $1,274,000 after purchasing an additional 2,920 shares in the last quarter. NewEdge Advisors LLC purchased a new position in Agios Pharmaceuticals during the first quarter valued at $40,000. Goldman Sachs Group Inc. lifted its position in Agios Pharmaceuticals by 16.1% during the first quarter. Goldman Sachs Group Inc. now owns 658,652 shares of the biopharmaceutical company’s stock valued at $19,299,000 after purchasing an additional 91,482 shares in the last quarter. Finally, Woodline Partners LP purchased a new position in Agios Pharmaceuticals during the first quarter valued at $597,000.

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.