Scotiabank Cuts Agios Pharmaceuticals (NASDAQ:AGIO) Price Target to $65.00

Key Points

• Scotiabank has reduced its price target for Agios Pharmaceuticals from $71.00 to $65.00, maintaining a "sector outperform" rating that indicates a potential upside of 74.73% from the current price.
• The stock of Agios Pharmaceuticals has seen a decline of 7.0%, trading at $37.20, with a market cap of $2.15 billion and a PE ratio of 3.31.
• Insider selling activity includes the sale of 2,770 shares by Tsveta Milanova and 11,914 shares by Sarah Gheuens, reflecting significant decreases in their ownership positions.

Agios Pharmaceuticals (NASDAQ:AGIO - Free Report) had its target price reduced by Scotiabank from $71.00 to $65.00 in a report published on Monday morning,Benzinga reports. They currently have a sector outperform rating on the biopharmaceutical company's stock.

A number of other brokerages have also issued reports on AGIO. Bank of America lowered their price target on Agios Pharmaceuticals from $52.00 to $51.00 and set a "buy" rating on the stock in a research note on Tuesday, July 22nd. Wall Street Zen downgraded Agios Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Monday, May 19th. One 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's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $56.33.

Agios Pharmaceuticals Stock Performance

Shares of NASDAQ:AGIO traded down $1.08 during trading on Monday, reaching $36.14. The stock had a trading volume of 483,308 shares, compared to its average volume of 670,403. The business has a fifty day moving average price of $35.58 and a 200-day moving average price of $32.56. The stock has a market cap of $2.09 billion, a PE ratio of 3.22 and a beta of 0.73. Agios Pharmaceuticals has a 1-year low of $23.42 and a 1-year high of $62.58.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported ($1.93) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.74) by ($0.19). The firm had revenue of $12.50 million during the quarter, compared to analyst estimates of $9.46 million. Agios Pharmaceuticals had a negative return on equity of 2.75% and a net margin of 1,798.26%. Sell-side analysts expect that Agios Pharmaceuticals will post -6.85 earnings per share for the current year.

Insider Activity

In other Agios Pharmaceuticals news, CEO Brian Goff sold 18,700 shares of Agios Pharmaceuticals stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $33.54, for a total value of $627,198.00. Following the sale, the chief executive officer owned 105,401 shares in the company, valued at $3,535,149.54. The trade was a 15.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Cecilia Jones sold 1,780 shares of Agios Pharmaceuticals stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $33.54, for a total value of $59,701.20. Following the completion of the sale, the chief financial officer owned 30,049 shares in the company, valued at $1,007,843.46. This represents a 5.59% 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 valued at $1,619,654 in the last 90 days. 4.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Agios Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. raised its position in Agios Pharmaceuticals by 16.7% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,237 shares of the biopharmaceutical company's stock valued at $74,000 after purchasing an additional 320 shares during the period. Summit Investment Advisors Inc. raised its position in Agios Pharmaceuticals by 7.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,913 shares of the biopharmaceutical company's stock valued at $194,000 after purchasing an additional 394 shares during the period. PNC Financial Services Group Inc. raised its position in Agios Pharmaceuticals by 16.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,582 shares of the biopharmaceutical company's stock valued at $105,000 after purchasing an additional 499 shares during the period. Nordea Investment Management AB raised its position in Agios Pharmaceuticals by 0.3% in the second quarter. Nordea Investment Management AB now owns 224,746 shares of the biopharmaceutical company's stock valued at $7,520,000 after purchasing an additional 573 shares during the period. Finally, Federated Hermes Inc. raised its position in Agios Pharmaceuticals by 4.4% in the fourth quarter. Federated Hermes Inc. now owns 13,691 shares of the biopharmaceutical company's stock valued at $450,000 after purchasing an additional 582 shares during the period.

About Agios Pharmaceuticals

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.