Agios Pharmaceuticals (NASDAQ:AGIO) Given New $31.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan cut its price target on Agios Pharmaceuticals from $36 to $31 while keeping a neutral rating, implying about 9% upside from the prior close.
• Agios shares were down 1.5% to $28.43 in Thursday trading, with the stock moving near its 50-day and 200-day averages and carrying a market value of about $1.69 billion.
• The company recently beat quarterly earnings and revenue expectations, reporting a smaller-than-expected loss and 137.7% year-over-year revenue growth, even as analysts expect a full-year loss.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) had its target price reduced by stock analysts at JPMorgan Chase & Co. from $36.00 to $31.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the biopharmaceutical company's stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 9.02% from the company's previous close.

AGIO has been the subject of a number of other reports. Bank of America lowered their target price on shares of Agios Pharmaceuticals from $41.00 to $40.00 and set a "buy" rating for the company in a report on Friday, May 29th. Truist Financial lowered their target price on shares of Agios Pharmaceuticals from $39.00 to $36.00 and set a "buy" rating for the company in a report on Thursday, April 30th. Citigroup boosted their target price on shares of Agios Pharmaceuticals from $38.00 to $46.00 and gave the company a "buy" rating in a report on Thursday, March 5th. The Goldman Sachs Group boosted their target price on shares of Agios Pharmaceuticals from $28.00 to $32.00 and gave the company a "neutral" rating in a report on Wednesday, April 1st. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Agios Pharmaceuticals in a report on Friday, March 27th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $40.89.

Agios Pharmaceuticals Trading Down 1.5%

Shares of NASDAQ AGIO traded down $0.45 during midday trading on Thursday, reaching $28.43. 205,181 shares of the stock were exchanged, compared to its average volume of 979,143. The company has a market capitalization of $1.69 billion, a P/E ratio of -3.93 and a beta of 0.59. Agios Pharmaceuticals has a 52-week low of $22.24 and a 52-week high of $46.00. The stock has a 50 day moving average price of $29.54 and a 200-day moving average price of $28.46.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last released its earnings results on Wednesday, April 29th. The biopharmaceutical company reported ($1.69) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.81) by $0.12. Agios Pharmaceuticals had a negative net margin of 639.84% and a negative return on equity of 34.11%. The firm had revenue of $20.75 million during the quarter, compared to the consensus estimate of $13.30 million. Agios Pharmaceuticals's revenue was up 137.7% on a year-over-year basis. On average, analysts forecast that Agios Pharmaceuticals will post -6.2 earnings per share for the current year.

Insider Buying and Selling at Agios Pharmaceuticals

In other news, CFO Cecilia Jones sold 3,141 shares of the business's stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $34.71, for a total transaction of $109,024.11. Following the transaction, the chief financial officer directly owned 54,998 shares of the company's stock, valued at approximately $1,908,980.58. The trade was a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 Tsveta Milanova sold 3,262 shares of the business's stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $34.71, for a total transaction 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 SEC filing for this sale provides additional information. 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 12,623 shares of company stock valued at $438,144 in the last ninety days. Corporate insiders own 5.40% of the company's stock.

Institutional Trading of Agios Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the stock. Seven Fleet Capital Management LP raised its holdings in Agios Pharmaceuticals by 560.2% in the first quarter. Seven Fleet Capital Management LP now owns 209,547 shares of the biopharmaceutical company's stock valued at $7,089,000 after acquiring an additional 177,809 shares in the last quarter. California State Teachers Retirement System raised its holdings in Agios Pharmaceuticals by 28.8% in the first quarter. California State Teachers Retirement System now owns 68,564 shares of the biopharmaceutical company's stock valued at $2,320,000 after acquiring an additional 15,325 shares in the last quarter. Eversept Partners LP acquired a new stake in Agios Pharmaceuticals in the first quarter valued at $6,766,000. Quantinno Capital Management LP raised its holdings in Agios Pharmaceuticals by 2.7% in the first quarter. Quantinno Capital Management LP now owns 27,591 shares of the biopharmaceutical company's stock valued at $933,000 after acquiring an additional 736 shares in the last quarter. Finally, Pale Fire Capital SE raised its holdings in Agios Pharmaceuticals by 15.2% in the first quarter. Pale Fire Capital SE now owns 13,650 shares of the biopharmaceutical company's stock valued at $462,000 after acquiring an additional 1,800 shares in the last quarter.

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.

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