Agios Pharmaceuticals (NASDAQ:AGIO) Shares Gap Down - Here's What Happened

Key Points

• Agios Pharmaceuticals shares gapped down ahead of Tuesday’s trading, opening at $35.80 after closing at $40.06, though the stock later traded near $39.12.
• Analyst sentiment remains mixed: Bank of America and Truist raised their targets and kept buy ratings, while JPMorgan cut its target and stayed neutral. The consensus rating is still Hold with an average price target of $42.56.
• The company recently beat quarterly expectations, reporting EPS of -$1.69 versus -$1.81 expected and revenue of $20.75 million, up 137.7% year over year. Despite that improvement, Agios is still expected to post a full-year loss.

Agios Pharmaceuticals, Inc. (NASDAQ:AGIO - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $40.06, but opened at $35.80. Agios Pharmaceuticals shares last traded at $39.1180, with a volume of 575,336 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AGIO. Bank of America upped their price objective on Agios Pharmaceuticals from $40.00 to $46.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. dropped their target price on Agios Pharmaceuticals from $36.00 to $31.00 and set a "neutral" rating for the company in a report on Thursday, June 11th. Royal Bank Of Canada boosted 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. Truist Financial increased their price target on Agios Pharmaceuticals from $36.00 to $41.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Finally, The Goldman Sachs Group raised their price target on Agios Pharmaceuticals from $28.00 to $32.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 1st. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $42.56.

Agios Pharmaceuticals Stock Performance

The company has a market capitalization of $2.18 billion, a P/E ratio of -5.07 and a beta of 0.54. The firm's fifty day moving average is $33.26 and its 200 day moving average is $30.43.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The biopharmaceutical company reported ($1.69) earnings per share for the quarter, topping 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 company had revenue of $20.75 million for the quarter, compared to analyst estimates of $13.30 million. The firm's revenue for the quarter was up 137.7% compared to the same quarter last year. On average, analysts forecast that Agios Pharmaceuticals, Inc. will post -6.32 EPS for the current year.

Institutional Investors Weigh In On Agios Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC grew its position in Agios Pharmaceuticals by 66.8% in the 1st quarter. AQR Capital Management LLC now owns 51,489 shares of the biopharmaceutical company's stock valued at $1,498,000 after acquiring an additional 20,625 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of 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 worth $1,274,000 after purchasing an additional 2,920 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in shares of Agios Pharmaceuticals during the first quarter valued at $40,000. Goldman Sachs Group Inc. boosted its stake in shares of 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 during the period. Finally, Woodline Partners LP bought a new position in shares of Agios Pharmaceuticals in the first quarter worth about $597,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.