Agios Pharmaceuticals (NASDAQ:AGIO) Price Target Raised to $34.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan raised Agios Pharmaceuticals’ price target from $31 to $34 while maintaining a “neutral” rating, implying 7.19% upside from the prior close.
• Analyst sentiment remains mixed: Agios has an average “Hold” rating and a consensus price target of $41.25, with five Buy, four Hold, and one Sell rating.
• Shares fell 0.7% to $31.72, while the company reported a quarterly loss of $1.69 per share—slightly worse than expected—despite revenue of $44.75 million exceeding estimates.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) had its target price lifted by analysts at JPMorgan Chase & Co. from $31.00 to $34.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the biopharmaceutical company's stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 7.19% from the stock's previous close.

Other analysts also recently issued reports about the company. Royal Bank Of Canada upped their target price on Agios Pharmaceuticals from $28.00 to $32.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 7th. Bank of America raised their price target on Agios Pharmaceuticals from $40.00 to $46.00 and gave the stock a "buy" rating in a research report on Tuesday, July 7th. Truist Financial dropped their price target on Agios Pharmaceuticals from $41.00 to $39.00 and set a "buy" rating for the company in a research note on Friday, July 31st. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Agios Pharmaceuticals in a research report on Wednesday, June 24th. Finally, Citigroup increased their price objective on shares of Agios Pharmaceuticals from $46.00 to $52.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Agios Pharmaceuticals has an average rating of "Hold" and a consensus price target of $41.25.

Agios Pharmaceuticals Stock Down 0.7%

Shares of AGIO traded down $0.23 during mid-day trading on Friday, hitting $31.72. 312,049 shares of the company's stock were exchanged, compared to its average volume of 1,056,686. Agios Pharmaceuticals has a 52 week low of $22.24 and a 52 week high of $46.00. The stock's 50-day simple moving average is $34.69 and its 200-day simple moving average is $31.00. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of -4.52 and a beta of 0.58.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.65) by ($0.04). The company had revenue of $44.75 million during the quarter, compared to the consensus estimate of $26.39 million. Agios Pharmaceuticals had a negative net margin of 418.24% and a negative return on equity of 35.67%. Analysts forecast that Agios Pharmaceuticals will post -6.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Agios Pharmaceuticals

In other news, insider Sarah Gheuens sold 30,000 shares of Agios Pharmaceuticals stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $30.48, for a total value of $914,400.00. Following the transaction, the insider owned 54,645 shares in the company, valued at approximately $1,665,579.60. This trade represents a 35.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 5.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. bought a new position in shares of Agios Pharmaceuticals in the fourth quarter worth about $25,000. Assetmark Inc. grew its holdings in shares of Agios Pharmaceuticals by 37.9% during the 4th quarter. Assetmark Inc. now owns 1,317 shares of the biopharmaceutical company's stock valued at $36,000 after purchasing an additional 362 shares during the last quarter. NewEdge Advisors LLC acquired a new position in Agios Pharmaceuticals during the 1st quarter worth approximately $40,000. Caitong International Asset Management Co. Ltd acquired a new position in Agios Pharmaceuticals during the 4th quarter worth approximately $49,000. Finally, Eurizon Capital SGR S.p.A. acquired a new position in Agios Pharmaceuticals during the 4th quarter worth approximately $72,000.

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.

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