Agios Pharmaceuticals (NASDAQ:AGIO) Stock Price Target Cut by Truist Financial

Key Points

• Truist Financial lowered Agios Pharmaceuticals’ price target to $37 from $39 while maintaining a “buy” rating, implying 16.88% upside from the stock’s $31.66 price.
• Analyst sentiment remains generally positive, with a MarketBeat consensus rating of “Moderate Buy” and an average price target of $41.50, although ratings range from Strong Buy to Sell.
• Agios reported a quarterly EPS loss of $1.69, slightly worse than estimates, despite revenue of $44.75 million exceeding consensus expectations; analysts project a full-year loss of $5.82 per share.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) had its target price decreased by investment analysts at Truist Financial from $39.00 to $37.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the biopharmaceutical company's stock. Truist Financial's price objective points to a potential upside of 16.88% from the company's current price.

Other equities analysts have also recently issued research reports about the company. Bank of America raised their price target on Agios Pharmaceuticals from $46.00 to $50.00 and gave the company a "buy" rating in a report on Monday, September 21st. JPMorgan Chase & Co. boosted 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. Citigroup raised their target price on shares of Agios Pharmaceuticals from $46.00 to $52.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Weiss Ratings reissued a "sell (d)" rating on shares of Agios Pharmaceuticals in a research note on Monday, September 21st. Finally, HC Wainwright raised their price objective on shares of Agios Pharmaceuticals from $52.00 to $55.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. One investment 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 given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $41.50.

Agios Pharmaceuticals Stock Down 0.2%

AGIO stock traded down $0.06 during trading on Wednesday, hitting $31.66. The company had a trading volume of 106,944 shares, compared to its average volume of 1,039,710. The firm has a 50-day moving average price of $33.17 and a 200-day moving average price of $32.56. Agios Pharmaceuticals has a 12 month low of $22.24 and a 12 month high of $46.00. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -4.51 and a beta of 0.63.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported ($1.69) EPS for the quarter, missing analysts' consensus estimates of ($1.65) by ($0.04). The firm 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%. Equities analysts expect that Agios Pharmaceuticals will post -5.82 EPS for the current year.

Insider Activity at Agios Pharmaceuticals

In related news, insider Sarah Gheuens sold 30,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $30.48, for a total value of $914,400.00. Following the sale, the insider directly owned 54,645 shares in the company, valued at $1,665,579.60. This trade represents a 35.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Agios Pharmaceuticals

Several hedge funds have recently bought and sold shares of the company. Sei Investments Co. boosted its stake in Agios Pharmaceuticals by 342.8% in the 1st quarter. Sei Investments Co. now owns 63,550 shares of the biopharmaceutical company's stock worth $2,150,000 after purchasing an additional 49,198 shares during the period. SCS Capital Management LLC acquired a new stake in shares of Agios Pharmaceuticals in the 2nd quarter valued at about $22,743,000. Seven Fleet Capital Management LP bought a new stake in shares of Agios Pharmaceuticals in the fourth quarter valued at about $864,000. Parkman Healthcare Partners LLC bought a new stake in shares of Agios Pharmaceuticals in the second quarter valued at about $24,828,000. Finally, GW&K Investment Management LLC boosted its position in shares of Agios Pharmaceuticals by 41.5% during the fourth quarter. GW&K Investment Management LLC now owns 1,207,301 shares of the biopharmaceutical company's stock worth $32,863,000 after buying an additional 354,359 shares during the period.

Agios Pharmaceuticals Company Profile

Agios Pharmaceuticals, Inc is a biopharmaceutical company focused on discovering and developing medicines for rare diseases. Based in Cambridge, Massachusetts, the company specializes in cellular metabolism and the development of therapies designed to address underlying disease biology rather than only treating symptoms.

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

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