Citigroup Forecasts Strong Price Appreciation for Agios Pharmaceuticals (NASDAQ:AGIO) Stock

Key Points

• Citigroup raised its price target on Agios from $38 to $46 and kept a buy rating, implying roughly a 64.9% upside from the prior close.
• Analyst views are mixed—six Buys, four Holds and one Sell—with a consensus price target of $40.67; the stock trades around $27.89, below its 200‑day moving average and well under its 12‑month high of $46.00.
• Insiders (including CEO Brian Goff) sold shares in late December—total insider sales of 33,303 shares (~$902K) over 90 days—while institutional investors such as Goldman Sachs and AQR have recently increased or initiated positions.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) had its price target increased by equities researchers at Citigroup from $38.00 to $46.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the biopharmaceutical company's stock. Citigroup's price target suggests a potential upside of 64.93% from the stock's previous close.

Other equities analysts also recently issued reports about the stock. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Agios Pharmaceuticals in a report on Monday, December 29th. The Goldman Sachs Group cut their price target on shares of Agios Pharmaceuticals from $40.00 to $25.00 and set a "neutral" rating on the stock in a report on Thursday, November 20th. Truist Financial upped their price objective on shares of Agios Pharmaceuticals from $32.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, December 24th. Leerink Partners lifted their target price on shares of Agios Pharmaceuticals from $34.00 to $40.00 and gave the stock an "outperform" rating in a research report on Friday, December 26th. Finally, JPMorgan Chase & Co. boosted their target price on Agios Pharmaceuticals from $20.00 to $25.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 6th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Agios Pharmaceuticals has an average rating of "Hold" and a consensus price target of $40.67.

Agios Pharmaceuticals Trading Down 1.1%

Shares of NASDAQ:AGIO traded down $0.30 during mid-day trading on Thursday, hitting $27.89. 504,877 shares of the company traded hands, compared to its average volume of 904,812. The stock has a 50-day moving average price of $28.09 and a two-hundred day moving average price of $33.37. 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 $1.63 billion, a P/E ratio of -3.92 and a beta of 0.89.

Insider Activity

In other Agios Pharmaceuticals news, insider Tsveta Milanova sold 2,932 shares of the stock in a transaction on Tuesday, December 30th. The stock was sold at an average price of $27.09, for a total transaction of $79,427.88. Following the completion of the transaction, the insider directly owned 29,190 shares of the company's stock, valued at approximately $790,757.10. This represents a 9.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian Goff sold 18,703 shares of the firm's stock in a transaction on Tuesday, December 30th. The stock was sold at an average price of $27.09, for a total value of $506,664.27. Following the completion of the sale, the chief executive officer directly owned 136,583 shares of the company's stock, valued at $3,700,033.47. This represents a 12.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 33,303 shares of company stock worth $901,977. 4.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC raised its stake 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Agios Pharmaceuticals by 7.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,327 shares of the biopharmaceutical company's stock valued at $1,274,000 after purchasing an additional 2,920 shares during the period. NewEdge Advisors LLC purchased a new stake in shares of Agios Pharmaceuticals during the 1st quarter valued at approximately $40,000. Goldman Sachs Group Inc. boosted its holdings in Agios Pharmaceuticals by 16.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 658,652 shares of the biopharmaceutical company's stock worth $19,299,000 after buying an additional 91,482 shares during the period. Finally, Woodline Partners LP purchased a new position in Agios Pharmaceuticals in the 1st quarter valued at approximately $597,000.

About Agios Pharmaceuticals

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.

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