Agios Pharmaceuticals (NASDAQ:AGIO) Price Target Cut to $51.00 by Analysts at Bank of America

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) had its price target cut by Bank of America from $52.00 to $51.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the biopharmaceutical company's stock. Bank of America's target price points to a potential upside of 27.50% from the stock's current price.

Other equities research analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Agios Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Monday, May 19th. Scotiabank lowered their target price on shares of Agios Pharmaceuticals from $74.00 to $71.00 and set a "sector outperform" rating on the stock in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.33.

Agios Pharmaceuticals Stock Performance

Agios Pharmaceuticals stock traded up $0.35 during trading on Tuesday, reaching $40.00. The company had a trading volume of 529,138 shares, compared to its average volume of 668,393. The firm's 50-day simple moving average is $34.77 and its 200 day simple moving average is $32.46. Agios Pharmaceuticals has a 1-year low of $23.42 and a 1-year high of $62.58. The firm has a market capitalization of $2.32 billion, a PE ratio of 3.56 and a beta of 0.73.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The biopharmaceutical company reported ($1.55) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.80) by $0.25. Agios Pharmaceuticals had a net margin of 1,798.26% and a negative return on equity of 2.75%. The firm had revenue of $8.73 million for the quarter, compared to analysts' expectations of $9.86 million. Analysts anticipate that Agios Pharmaceuticals will post -6.85 EPS for the current year.

Insider Activity at Agios Pharmaceuticals

In other news, insider Sarah Gheuens sold 11,914 shares of Agios Pharmaceuticals stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $37.99, for a total transaction of $452,612.86. Following the transaction, the insider owned 61,271 shares in the company, valued at $2,327,685.29. The trade was a 16.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Scadden sold 1,400 shares of Agios Pharmaceuticals stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $40.00, for a total value of $56,000.00. Following the transaction, the director owned 17,603 shares in the company, valued at approximately $704,120. This represents a 7.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,363 shares of company stock worth $1,619,654 over the last 90 days. Corporate insiders own 4.30% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. CWM LLC raised its holdings in shares of Agios Pharmaceuticals by 218.6% during the 2nd quarter. CWM LLC now owns 5,286 shares of the biopharmaceutical company's stock worth $176,000 after acquiring an additional 3,627 shares during the period. KLP Kapitalforvaltning AS raised its holdings in shares of Agios Pharmaceuticals by 18.0% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 11,800 shares of the biopharmaceutical company's stock worth $392,000 after acquiring an additional 1,800 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Agios Pharmaceuticals by 16.7% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,237 shares of the biopharmaceutical company's stock worth $74,000 after acquiring an additional 320 shares during the period. Harbor Capital Advisors Inc. raised its holdings in shares of Agios Pharmaceuticals by 3.6% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 37,024 shares of the biopharmaceutical company's stock worth $1,231,000 after acquiring an additional 1,295 shares during the period. Finally, Strs Ohio purchased a new position in shares of Agios Pharmaceuticals during the 1st quarter worth $240,000.

Agios Pharmaceuticals Company Profile

Agios Pharmaceuticals, Inc, a biopharmaceutical company, discovers and develops medicines in the field of cellular metabolism in the United States. Its lead product includes PYRUKYND (mitapivat), an activator of wild-type and mutant pyruvate kinase (PK), enzymes for the treatment of hemolytic anemias.