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

Agios Pharmaceuticals (NASDAQ:AGIO) had its target price reduced by analysts at HC Wainwright from $65.00 to $50.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective would suggest a potential upside of 83.44% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on the stock. Leerink Partners boosted their price target on shares of Agios Pharmaceuticals from $34.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, December 26th. Citigroup boosted their price target on shares of Agios Pharmaceuticals from $38.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. JPMorgan Chase & Co. lifted their price objective on shares of Agios Pharmaceuticals from $31.00 to $36.00 and gave the company a “neutral” rating in a research note on Monday, April 6th. 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, Truist Financial lifted their price objective on shares of Agios Pharmaceuticals from $32.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, December 24th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Agios Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $41.00.

Agios Pharmaceuticals Trading Down 22.4%

NASDAQ:AGIO traded down $7.88 during trading hours on Monday, hitting $27.26. The company’s stock had a trading volume of 3,347,683 shares, compared to its average volume of 951,211. The stock has a market capitalization of $1.60 billion, a P/E ratio of -3.80 and a beta of 0.79. The stock has a fifty day moving average of $30.13 and a 200-day moving average of $31.83. Agios Pharmaceuticals has a 52-week low of $22.24 and a 52-week high of $46.00.

Insider Buying and Selling

In other Agios Pharmaceuticals news, insider Tsveta Milanova sold 3,262 shares of Agios Pharmaceuticals stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $34.71, for a total value of $113,224.02. Following the transaction, the insider directly owned 46,829 shares in the company, valued at approximately $1,625,434.59. The trade was a 6.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 Sarah Gheuens sold 2,940 shares of Agios Pharmaceuticals stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $34.71, for a total transaction of $102,047.40. Following the completion of the transaction, the insider owned 80,277 shares in the company, valued at approximately $2,786,414.67. This represents a 3.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 sold a total of 15,582 shares of company stock valued at $520,405 in the last quarter. Corporate insiders own 4.93% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new position in shares of Agios Pharmaceuticals during the third quarter valued at approximately $2,696,000. HighVista Strategies LLC lifted its stake in shares of Agios Pharmaceuticals by 178.5% during the third quarter. HighVista Strategies LLC now owns 195,298 shares of the biopharmaceutical company’s stock valued at $7,839,000 after buying an additional 125,171 shares during the period. Erste Asset Management GmbH lifted its stake in shares of Agios Pharmaceuticals by 18.8% during the third quarter. Erste Asset Management GmbH now owns 2,764,900 shares of the biopharmaceutical company’s stock valued at $108,578,000 after buying an additional 438,411 shares during the period. SG Americas Securities LLC lifted its stake in shares of Agios Pharmaceuticals by 68.0% during the fourth quarter. SG Americas Securities LLC now owns 46,451 shares of the biopharmaceutical company’s stock valued at $1,264,000 after buying an additional 18,801 shares during the period. Finally, ArrowMark Colorado Holdings LLC lifted its stake in shares of Agios Pharmaceuticals by 3.2% during the third quarter. ArrowMark Colorado Holdings LLC now owns 679,922 shares of the biopharmaceutical company’s stock valued at $27,292,000 after buying an additional 21,231 shares during the period.

Agios Pharmaceuticals Company Profile

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.