Agios Pharmaceuticals (NASDAQ:AGIO) Now Covered by Analysts at HC Wainwright

Key Points

• HC Wainwright initiated coverage of Agios Pharmaceuticals with a “buy” rating and a $55 price target, implying 44.28% upside from the prior close.
• Analyst sentiment is broadly positive but mixed: Agios has a consensus “Moderate Buy” rating and an average price target of $41.50, based on one Strong Buy, five Buys, four Holds, and one Sell.
• Agios reported quarterly revenue of $44.75 million, exceeding estimates, but its loss of $1.69 per share was wider than expected. The company’s shares opened at $38.12, with a market capitalization of approximately $2.28 billion.

Investment analysts at HC Wainwright started coverage on shares of Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) in a report released on Thursday, Benzinga reports. The brokerage set a "buy" rating and a $55.00 price target on the biopharmaceutical company's stock. HC Wainwright's target price indicates a potential upside of 44.28% from the stock's previous close.

A number of other analysts also recently issued reports on the stock. TD Cowen upgraded shares of Agios Pharmaceuticals to a "strong-buy" rating in a report on Monday, August 24th. Weiss Ratings reiterated a "sell (d)" rating on shares of Agios Pharmaceuticals in a research note on Monday, September 21st. Truist Financial dropped their price objective on shares of Agios Pharmaceuticals from $39.00 to $37.00 and set a "buy" rating for the company in a report on Wednesday, October 7th. Citigroup raised their price objective on Agios Pharmaceuticals from $46.00 to $52.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Finally, Bank of America lifted their target price on Agios Pharmaceuticals from $46.00 to $50.00 and gave the stock a "buy" rating in a report on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $41.50.

Agios Pharmaceuticals Price Performance

AGIO stock opened at $38.12 on Thursday. Agios Pharmaceuticals has a 1-year low of $22.24 and a 1-year high of $46.00. The business has a 50 day simple moving average of $33.64 and a two-hundred day simple moving average of $31.65. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -5.44 and a beta of 0.63.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last released its quarterly earnings data 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). Agios Pharmaceuticals had a negative net margin of 418.24% and a negative return on equity of 35.67%. The company had revenue of $44.75 million for the quarter, compared to the consensus estimate of $26.39 million. Sell-side analysts anticipate that Agios Pharmaceuticals will post -5.83 EPS for the current fiscal year.

Insider Activity at Agios Pharmaceuticals

In related news, insider Sarah Gheuens sold 30,000 shares of Agios Pharmaceuticals stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $30.48, for a total value of $914,400.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 39,855 shares of company stock valued at $1,285,512. 5.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Agios Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nykredit A S bought a new stake in Agios Pharmaceuticals in the second quarter worth about $26,000. Quantbot Technologies LP purchased a new position in shares of Agios Pharmaceuticals during the second quarter valued at approximately $43,000. Integrated Wealth Concepts LLC bought a new position in shares of Agios Pharmaceuticals during the second quarter valued at approximately $47,000. Allworth Financial LP bought a new position in shares of Agios Pharmaceuticals during the second quarter valued at approximately $73,000. Finally, Versant Capital Management Inc grew its stake in shares of Agios Pharmaceuticals by 378.7% during the second quarter. Versant Capital Management Inc now owns 2,001 shares of the biopharmaceutical company's stock valued at $74,000 after buying an additional 1,583 shares during the last quarter.

Agios Pharmaceuticals Company Profile

Agios Pharmaceuticals, Inc is a biopharmaceutical company focused on discovering and developing medicines for rare diseases involving cellular metabolism. The company's research is centered on metabolic pathways that influence red blood cell production and function, with the goal of addressing conditions that have limited treatment options.

Agios' principal commercial product is Pyrukynd (mitapivat), an oral activator of pyruvate kinase. Pyrukynd is approved in the United States and other markets for the treatment of hemolytic anemia in adults with pyruvate kinase deficiency, a rare inherited blood disorder.

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