Agios Pharmaceuticals (NASDAQ:AGIO) Given New $34.00 Price Target at JPMorgan Chase & Co.

Agios Pharmaceuticals (NASDAQ:AGIO) had its price target hoisted by JPMorgan Chase & Co. from $31.00 to $34.00 in a research note released on Friday,Benzinga reports. The brokerage currently has a neutral rating on the biopharmaceutical company’s stock.

Other equities research analysts have also issued research reports about the company. HC Wainwright upped their price objective on Agios Pharmaceuticals from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Bank of America boosted their target price on shares of Agios Pharmaceuticals from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Citigroup raised their price target on shares of Agios Pharmaceuticals from $46.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Royal Bank Of Canada lifted their price objective on shares of Agios Pharmaceuticals from $28.00 to $32.00 and gave the company a “sector perform” rating in a report on Tuesday, July 7th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Agios Pharmaceuticals in a research report on Wednesday, June 24th. Five 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $41.25.

Agios Pharmaceuticals Stock Performance

NASDAQ AGIO opened at $32.27 on Friday. The firm has a market capitalization of $1.93 billion, a P/E ratio of -4.60 and a beta of 0.58. The stock has a 50-day simple moving average of $34.75 and a two-hundred day simple moving average of $31.01. Agios Pharmaceuticals has a fifty-two week low of $22.24 and a fifty-two week high of $46.00.

Agios Pharmaceuticals (NASDAQ:AGIO) last issued its earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.69) EPS for the quarter, missing analysts’ consensus estimates of ($1.65) by ($0.04). The company had revenue of $44.75 million during the quarter, compared to analysts’ expectations of $26.39 million. Agios Pharmaceuticals had a negative return on equity of 35.67% and a negative net margin of 418.24%. As a group, analysts forecast that Agios Pharmaceuticals will post -6.12 earnings per share for the current year.

Insider Buying and Selling at Agios Pharmaceuticals

In other news, insider Sarah Gheuens sold 30,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $30.48, for a total transaction of $914,400.00. Following the transaction, the insider owned 54,645 shares in the company, valued at $1,665,579.60. This trade represents a 35.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Agios Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of Agios Pharmaceuticals during the second quarter worth about $239,582,000. Deutsche Bank AG purchased a new position in Agios Pharmaceuticals in the 2nd quarter valued at about $2,309,000. SCS Capital Management LLC acquired a new stake in Agios Pharmaceuticals in the 2nd quarter worth about $22,743,000. Bank of New York Mellon Corp acquired a new stake in Agios Pharmaceuticals in the 2nd quarter worth about $7,373,000. Finally, GSA Capital Partners LLP purchased a new stake in Agios Pharmaceuticals during the 2nd quarter worth approximately $932,000.

Agios Pharmaceuticals Company Profile

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.