Agios Pharmaceuticals Inc. (NASDAQ:AGIO)’s share price dropped 3.5% on Wednesday . The stock traded as low as $39.11 and last traded at $39.39, with a volume of 241,061 shares changing hands. The stock had previously closed at $40.82.

AGIO has been the topic of several analyst reports. JPMorgan Chase & Co. raised Agios Pharmaceuticals from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $50.00 to $62.00 in a research report on Monday, June 13th. Credit Suisse Group AG reissued a “buy” rating on shares of Agios Pharmaceuticals in a research report on Tuesday, July 12th. Canaccord Genuity raised Agios Pharmaceuticals from a “hold” rating to a “buy” rating and boosted their target price for the company from $50.00 to $90.00 in a research report on Monday, June 13th. Zacks Investment Research raised Agios Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Wednesday, April 20th. Finally, Goldman Sachs Group Inc. reissued a “neutral” rating and set a $46.00 target price on shares of Agios Pharmaceuticals in a research report on Wednesday, August 10th. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Agios Pharmaceuticals has an average rating of “Buy” and an average price target of $63.44.

The firm has a 50 day moving average of $42.50 and a 200 day moving average of $44.57. The stock’s market capitalization is $1.52 billion.

Agios Pharmaceuticals (NASDAQ:AGIO) last released its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.47) earnings per share for the quarter, missing the consensus estimate of ($0.48) by $0.99. The firm earned $6.98 million during the quarter, compared to analyst estimates of $39.62 million. Agios Pharmaceuticals’s quarterly revenue was down 47.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.85) EPS. On average, equities analysts predict that Agios Pharmaceuticals Inc. will post ($5.01) earnings per share for the current fiscal year.

In related news, Director Lewis Clayton Jr. Cantley sold 627 shares of Agios Pharmaceuticals stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $40.37, for a total transaction of $25,311.99. Following the transaction, the director now owns 125,921 shares in the company, valued at $5,083,430.77. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Scott Biller sold 27,500 shares of Agios Pharmaceuticals stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $65.00, for a total value of $1,787,500.00. Following the transaction, the insider now owns 81,376 shares in the company, valued at approximately $5,289,440. The disclosure for this sale can be found here.

A number of institutional investors recently made changes to their positions in the company. Jennison Associates LLC increased its position in shares of Agios Pharmaceuticals by 170.6% in the fourth quarter. Jennison Associates LLC now owns 430,085 shares of the biopharmaceutical company’s stock worth $27,921,000 after buying an additional 271,142 shares during the last quarter. Mutual of America Capital Management LLC increased its position in shares of Agios Pharmaceuticals by 0.5% in the fourth quarter. Mutual of America Capital Management LLC now owns 17,325 shares of the biopharmaceutical company’s stock worth $1,125,000 after buying an additional 86 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of Agios Pharmaceuticals by 2.5% in the fourth quarter. Rhumbline Advisers now owns 24,947 shares of the biopharmaceutical company’s stock worth $1,620,000 after buying an additional 605 shares during the last quarter.

Agios Pharmaceuticals, Inc is a biopharmaceutical company. The Company is engaged in the discovery and development of orally available small molecule medicines for the treatment of cancer and rare genetic disorders (RGDs), which are a subset of orphan genetic metabolic diseases. Its cancer product candidates are AG-221 and AG-120, which targets mutated isocitrate dehydrogenase 2 and 1, or IDH2 and IDH1, respectively, and AG-881, which targets both mutated IDH1 and mutated IDH2.

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