Agios Pharmaceuticals (NASDAQ:AGIO) Given New $20.00 Price Target at JPMorgan Chase & Co.
JPMorgan Chase & Co. lowered Agios Pharmaceuticals' price target from $37.00 to $20.00, maintaining a "neutral" rating. Other firms also adjusted their targets, with mixed ratings ranging from "buy" to "sector perform." The stock's average rating is "Moderate Buy" with a $36.00 target. Agios reported better-than-expected quarterly earnings, with revenue up 43.3% year-over-year. Insider sales and hedge fund activities were noted, with 4.30% insider ownership.
Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) had its target price dropped by equities researchers at JPMorgan Chase & Co. from $37.00 to $20.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "neutral" rating on the biopharmaceutical company's stock. JPMorgan Chase & Co.'s price objective would indicate a potential downside of 19.73% from the company's previous close.
A number of other brokerages have also recently weighed in on AGIO. The Goldman Sachs Group reduced their price target on shares of Agios Pharmaceuticals from $40.00 to $25.00 and set a "neutral" rating on the stock in a research report on Thursday. Scotiabank dropped their price objective on Agios Pharmaceuticals from $71.00 to $65.00 and set a "sector outperform" rating on the stock in a research note on Monday, July 28th. Royal Bank Of Canada lowered Agios Pharmaceuticals from an "outperform" rating to a "sector perform" rating and reduced their target price for the stock from $57.00 to $28.00 in a report on Wednesday. Leerink Partners upgraded Agios Pharmaceuticals from a "market perform" rating to an "outperform" rating and lowered their price target for the stock from $40.00 to $34.00 in a report on Thursday. Finally, Bank of America cut their price objective on Agios Pharmaceuticals from $54.00 to $32.00 and set a "buy" rating on the stock in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $36.00.
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Agios Pharmaceuticals Price Performance
Shares of Agios Pharmaceuticals stock traded up $0.35 during trading on Friday, hitting $24.92. 2,405,380 shares of the company were exchanged, compared to its average volume of 807,962. The firm has a market capitalization of $1.45 billion, a P/E ratio of -3.56 and a beta of 0.89. The firm's fifty day moving average price is $40.14 and its 200 day moving average price is $36.82. Agios Pharmaceuticals has a 1-year low of $22.24 and a 1-year high of $62.45.
Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last announced its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported ($1.78) earnings per share for the quarter, beating analysts' consensus estimates of ($1.93) by $0.15. The business had revenue of $12.90 million for the quarter, compared to the consensus estimate of $10.49 million. Agios Pharmaceuticals had a negative net margin of 895.86% and a negative return on equity of 28.35%. Agios Pharmaceuticals's revenue for the quarter was up 43.3% on a year-over-year basis. During the same period last year, the company posted $16.22 EPS. As a group, equities research analysts anticipate that Agios Pharmaceuticals will post -6.85 earnings per share for the current year.
Insider Transactions at Agios Pharmaceuticals
In other Agios Pharmaceuticals news, insider Theodore James Jr. Washburn sold 8,546 shares of Agios Pharmaceuticals stock in a transaction on Friday, September 5th. The shares were sold at an average price of $36.87, for a total value of $315,091.02. Following the sale, the insider directly owned 868 shares in the company, valued at approximately $32,003.16. The trade was a 90.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Cecilia Jones sold 3,651 shares of the firm's stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $36.77, for a total value of $134,247.27. Following the completion of the transaction, the chief financial officer owned 33,870 shares of the company's stock, valued at $1,245,399.90. The trade was a 9.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 16,099 shares of company stock valued at $620,092 over the last 90 days. 4.30% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Agios Pharmaceuticals
Institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC bought a new position in shares of Agios Pharmaceuticals in the 1st quarter valued at about $40,000. First Horizon Corp acquired a new stake in Agios Pharmaceuticals in the 3rd quarter valued at about $45,000. CWM LLC grew its holdings in Agios Pharmaceuticals by 150.2% during the first quarter. CWM LLC now owns 1,659 shares of the biopharmaceutical company's stock worth $49,000 after purchasing an additional 996 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Agios Pharmaceuticals by 16.7% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,237 shares of the biopharmaceutical company's stock worth $74,000 after buying an additional 320 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Agios Pharmaceuticals in the third quarter valued at approximately $79,000.
About Agios Pharmaceuticals
(Get Free Report)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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