HC Wainwright Has Lowered Expectations for Agios Pharmaceuticals (NASDAQ:AGIO) Stock Price

Key Points

• HC Wainwright cut its price target on Agios from $65 to $50 but kept a "buy" rating, with that $50 target implying an estimated 83.44% upside from the stock's current level.
• Analyst sentiment is mixed: six analysts rate Agios a Buy, four a Hold and one a Sell, producing a consensus rating of "Hold" and an average target price of $41.00.
• Shares plunged to $27.26 (down $7.88) on heavy volume (~3.35M vs. avg 951K), and insiders have been net sellers—15,582 shares sold over the past 90 days—with insiders owning about 4.93% of the stock.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) had its price target cut by analysts at HC Wainwright from $65.00 to $50.00 in a report released on Monday,Benzinga reports. The firm currently has a "buy" rating on the biopharmaceutical company's stock. HC Wainwright's target price indicates a potential upside of 83.44% from the stock's current price.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. upped their target price on Agios Pharmaceuticals from $31.00 to $36.00 and gave the company a "neutral" rating in a research report on Monday, April 6th. Leerink Partners upped their target price on Agios Pharmaceuticals from $34.00 to $40.00 and gave the company an "outperform" rating in a research report on Friday, December 26th. The Goldman Sachs Group upped their target price on Agios Pharmaceuticals from $28.00 to $32.00 and gave the company a "neutral" rating in a research report on Wednesday, April 1st. Truist Financial upped their target price on Agios Pharmaceuticals from $32.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, December 24th. Finally, Wall Street Zen raised Agios Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Sunday, March 22nd. Six equities research 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. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $41.00.

Agios Pharmaceuticals Stock Performance

Shares of NASDAQ AGIO traded down $7.88 during mid-day trading on Monday, hitting $27.26. The stock had a trading volume of 3,347,683 shares, compared to its average volume of 951,211. The company has a 50 day moving average of $30.13 and a two-hundred day moving average of $31.83. Agios Pharmaceuticals has a twelve month low of $22.24 and a twelve month high of $46.00. The firm has a market cap of $1.60 billion, a PE ratio of -3.80 and a beta of 0.79.

Insider Buying and Selling at Agios Pharmaceuticals

In related news, insider Sarah Gheuens sold 2,940 shares of the firm's stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $34.71, for a total value of $102,047.40. Following the transaction, the insider directly owned 80,277 shares of the company's stock, valued at approximately $2,786,414.67. This trade represents a 3.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Krishnan Viswanadhan sold 2,959 shares of the firm's stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $27.80, for a total transaction of $82,260.20. Following the completion of the transaction, the insider directly owned 5,141 shares in the company, valued at $142,919.80. This represents a 36.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 15,582 shares of company stock worth $520,405. 4.93% of the stock is currently owned by company insiders.

Institutional Trading of Agios Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. acquired a new position in shares of Agios Pharmaceuticals in the 4th quarter valued at $25,000. Assetmark Inc. increased its holdings in Agios Pharmaceuticals by 37.9% in the 4th quarter. Assetmark Inc. now owns 1,317 shares of the biopharmaceutical company's stock valued at $36,000 after purchasing an additional 362 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in Agios Pharmaceuticals in the 1st quarter valued at approximately $40,000. First Horizon Corp acquired a new stake in Agios Pharmaceuticals in the 3rd quarter valued at approximately $45,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Agios Pharmaceuticals in the 4th quarter valued at approximately $49,000.

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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