Truist Financial Lowers Agios Pharmaceuticals (NASDAQ:AGIO) Price Target to $36.00

Agios Pharmaceuticals (NASDAQ:AGIO) had its price objective decreased by analysts at Truist Financial from $39.00 to $36.00 in a note issued to investors on Thursday, Marketbeat reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Truist Financial’s price objective indicates a potential upside of 27.84% from the company’s previous close.

A number of other research firms also recently issued reports on AGIO. Bank of America dropped their target price on shares of Agios Pharmaceuticals from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. HC Wainwright dropped their target price on shares of Agios Pharmaceuticals from $65.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Wall Street Zen raised shares of Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. Weiss Ratings reissued a “sell (d)” rating on shares of Agios Pharmaceuticals in a research report on Friday, March 27th. Finally, JPMorgan Chase & Co. increased their target price on shares of Agios Pharmaceuticals from $31.00 to $36.00 and gave the stock a “neutral” rating in a research report on Monday, April 6th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $41.56.

Agios Pharmaceuticals Stock Up 0.6%

AGIO stock opened at $28.16 on Thursday. The company has a market cap of $1.67 billion, a price-to-earnings ratio of -3.88 and a beta of 0.58. The business has a fifty day simple moving average of $29.87 and a 200-day simple moving average of $31.03. Agios Pharmaceuticals has a 52 week low of $22.24 and a 52 week high of $46.00.

Agios Pharmaceuticals (NASDAQ:AGIO) last released its quarterly earnings data on Wednesday, April 29th. The biopharmaceutical company reported ($1.69) EPS for the quarter, topping analysts’ consensus estimates of ($1.81) by $0.12. The business had revenue of $20.75 million during the quarter, compared to the consensus estimate of $13.30 million. Agios Pharmaceuticals had a negative return on equity of 34.11% and a negative net margin of 639.84%.The firm’s revenue was up 137.7% on a year-over-year basis. As a group, analysts expect that Agios Pharmaceuticals will post -6.46 earnings per share for the current fiscal year.

Insider Activity at Agios Pharmaceuticals

In other news, insider James William Burns sold 3,280 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $34.71, for a total transaction of $113,848.80. Following the completion of the sale, the insider directly owned 49,306 shares in the company, valued at $1,711,411.26. This trade represents a 6.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 the firm’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $34.71, for a total value of $102,047.40. Following the sale, the insider owned 80,277 shares of the company’s stock, valued at $2,786,414.67. This represents a 3.53% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 15,582 shares of company stock valued at $520,405. 4.30% of the stock is currently owned by insiders.

Institutional Trading of Agios Pharmaceuticals

Several large investors have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Agios Pharmaceuticals during the fourth quarter worth approximately $25,000. First Horizon Corp acquired a new stake in shares of Agios Pharmaceuticals during the third quarter worth approximately $45,000. Assetmark Inc. grew its position in shares of Agios Pharmaceuticals by 37.9% during the fourth quarter. Assetmark Inc. now owns 1,317 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 362 shares in the last quarter. NewEdge Advisors LLC acquired a new stake in shares of Agios Pharmaceuticals during the first quarter worth approximately $40,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Agios Pharmaceuticals during the fourth quarter worth approximately $49,000.

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.