Agios Pharmaceuticals (NASDAQ:AGIO) Stock Price Expected to Rise, Bank of America Analyst Says

Key Points

• Bank of America raised Agios Pharmaceuticals’ price target to $50 from $46 and maintained a “buy” rating, implying approximately 49% upside from the prior close.
• Analyst sentiment is generally positive: Agios has a consensus “Moderate Buy” rating and an average price target of $41.75, although ratings range from “strong buy” to “sell.”
• Agios reported a quarterly loss of $1.69 per share, slightly worse than estimates, but revenue of $44.75 million exceeded expectations; the stock recently traded at $33.49.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) had its target price boosted by investment analysts at Bank of America from $46.00 to $50.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a "buy" rating on the biopharmaceutical company's stock. Bank of America's price objective would suggest a potential upside of 49.30% from the stock's previous close.

Several other brokerages also recently issued reports on AGIO. Weiss Ratings reissued a "sell (d)" rating on shares of Agios Pharmaceuticals in a research note on Wednesday, June 24th. TD Cowen raised shares of Agios Pharmaceuticals to a "strong-buy" rating in a research note on Monday, August 24th. Royal Bank Of Canada boosted their price target on Agios Pharmaceuticals from $28.00 to $32.00 and gave the company a "sector perform" rating in a report on Tuesday, July 7th. Citigroup increased their price target on Agios Pharmaceuticals from $46.00 to $52.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. raised their price objective on Agios Pharmaceuticals from $31.00 to $34.00 and gave the stock a "neutral" rating in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $41.75.

Agios Pharmaceuticals Stock Performance

Agios Pharmaceuticals stock traded up $0.42 during midday trading on Monday, reaching $33.49. 321,816 shares of the company were exchanged, compared to its average volume of 1,037,423. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of -4.77 and a beta of 0.60. The firm's 50-day simple moving average is $34.41 and its 200-day simple moving average is $32.16. Agios Pharmaceuticals has a 1 year low of $22.24 and a 1 year high of $46.00.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last released its earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.69) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $44.75 million during the quarter, compared to analysts' expectations of $26.39 million. On average, analysts forecast that Agios Pharmaceuticals will post -5.82 EPS for the current fiscal year.

Insider Buying and Selling at Agios Pharmaceuticals

In other Agios Pharmaceuticals news, insider Sarah Gheuens sold 30,000 shares of the business's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $30.48, for a total transaction of $914,400.00. Following the completion of the sale, the insider owned 54,645 shares of the company's stock, valued at approximately $1,665,579.60. The trade was a 35.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 5.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Nykredit A S acquired a new position in shares of Agios Pharmaceuticals during the 2nd quarter valued at $26,000. Quantbot Technologies LP acquired a new stake in Agios Pharmaceuticals in the 2nd quarter valued at $43,000. Integrated Wealth Concepts LLC acquired a new stake in Agios Pharmaceuticals in the 2nd quarter valued at $47,000. Allworth Financial LP purchased a new position in Agios Pharmaceuticals in the second quarter valued at about $73,000. Finally, Versant Capital Management Inc raised its position in Agios Pharmaceuticals by 378.7% in the second quarter. Versant Capital Management Inc now owns 2,001 shares of the biopharmaceutical company's stock valued at $74,000 after purchasing an additional 1,583 shares during the period.

Agios Pharmaceuticals Company Profile

Agios Pharmaceuticals, Inc is a biopharmaceutical company focused on discovering and developing medicines for rare diseases, with an emphasis on disorders involving cellular metabolism. The company's research has centered on small-molecule therapies designed to address underlying biological mechanisms rather than only treating symptoms.

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

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