Scotiabank Issues Pessimistic Forecast for Agios Pharmaceuticals (NASDAQ:AGIO) Stock Price

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 - Get Free Report) had its price objective decreased by research analysts at Scotiabank from $71.00 to $65.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "sector outperform" rating on the biopharmaceutical company's stock. Scotiabank's price target points to a potential upside of 74.73% from the stock's current price.

AGIO has been the subject of a number of other reports. Bank of America lowered their price target on shares of Agios Pharmaceuticals from $52.00 to $51.00 and set a "buy" rating for the company in a report on Tuesday, July 22nd. Wall Street Zen lowered shares of Agios Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Monday, May 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Agios Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus price target of $56.33.

Agios Pharmaceuticals Trading Down 7.0%

Shares of AGIO traded down $2.80 during mid-day trading on Monday, reaching $37.20. The company's stock had a trading volume of 761,061 shares, compared to its average volume of 669,050. The stock has a market cap of $2.15 billion, a PE ratio of 3.31 and a beta of 0.73. Agios Pharmaceuticals has a 52 week low of $23.42 and a 52 week high of $62.58. The company's fifty day moving average price is $34.98 and its two-hundred day moving average price is $32.45.

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

Insider Buying and Selling at Agios Pharmaceuticals

In other Agios Pharmaceuticals news, insider Tsveta Milanova sold 2,770 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $33.54, for a total transaction of $92,905.80. Following the transaction, the insider directly owned 26,122 shares of the company's stock, valued at approximately $876,131.88. The trade was a 9.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sarah Gheuens sold 11,914 shares of the business's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $37.99, for a total transaction of $452,612.86. Following the transaction, the insider directly owned 61,271 shares in the company, valued at approximately $2,327,685.29. The trade was a 16.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,363 shares of company stock worth $1,619,654. 4.93% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Agios Pharmaceuticals by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 5,631,321 shares of the biopharmaceutical company's stock valued at $185,045,000 after purchasing an additional 85,339 shares during the period. Erste Asset Management GmbH grew its position in shares of Agios Pharmaceuticals by 10.9% in the 1st quarter. Erste Asset Management GmbH now owns 2,229,900 shares of the biopharmaceutical company's stock worth $65,439,000 after buying an additional 220,000 shares during the period. Jefferies Financial Group Inc. purchased a new stake in shares of Agios Pharmaceuticals in the 4th quarter worth about $49,290,000. Frazier Life Sciences Management L.P. grew its position in shares of Agios Pharmaceuticals by 2.5% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 1,069,754 shares of the biopharmaceutical company's stock worth $35,152,000 after buying an additional 25,600 shares during the period. Finally, Deutsche Bank AG grew its position in shares of Agios Pharmaceuticals by 39.7% in the 4th quarter. Deutsche Bank AG now owns 935,252 shares of the biopharmaceutical company's stock worth $30,732,000 after buying an additional 265,637 shares during the period.

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.

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