Agios Pharmaceuticals (NASDAQ:AGIO) Stock Price Target Cut by Truist Financial

Agios Pharmaceuticals (NASDAQ:AGIO) had its price objective decreased by Truist Financial from $39.00 to $37.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Truist Financial’s price target indicates a potential upside of 16.88% from the stock’s previous close.

A number of other research firms also recently weighed in on AGIO. Royal Bank Of Canada raised their target price on shares of Agios Pharmaceuticals from $28.00 to $32.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 7th. Weiss Ratings reissued a “sell (d)” rating on shares of Agios Pharmaceuticals in a research report on Monday, September 21st. Bank of America increased their price objective on shares of Agios Pharmaceuticals from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, September 21st. Citigroup raised their price objective on Agios Pharmaceuticals from $46.00 to $52.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, TD Cowen raised Agios Pharmaceuticals to a “strong-buy” rating in a research report on Monday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $41.50.

Agios Pharmaceuticals Price Performance

NASDAQ:AGIO traded down $0.06 during trading hours on Wednesday, reaching $31.66. 106,944 shares of the stock were exchanged, compared to its average volume of 1,039,710. The stock has a market cap of $1.89 billion, a PE ratio of -4.51 and a beta of 0.63. Agios Pharmaceuticals has a twelve month low of $22.24 and a twelve month high of $46.00. The firm has a 50 day moving average of $33.17 and a 200 day moving average of $32.56.

Agios Pharmaceuticals (NASDAQ:AGIO) last posted its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported ($1.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.65) by ($0.04). The business had revenue of $44.75 million during the quarter, compared to analyst estimates of $26.39 million. Agios Pharmaceuticals had a negative net margin of 418.24% and a negative return on equity of 35.67%. Equities research analysts anticipate that Agios Pharmaceuticals will post -5.82 earnings per share for the current year.

Insiders Place Their Bets

In other Agios Pharmaceuticals news, insider Sarah Gheuens sold 30,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $30.48, for a total transaction of $914,400.00. Following the sale, the insider directly owned 54,645 shares of the company’s stock, valued at approximately $1,665,579.60. This represents a 35.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AGIO. Nykredit A S bought a new stake in shares of Agios Pharmaceuticals in the 2nd quarter valued at about $26,000. Quantbot Technologies LP bought a new position in Agios Pharmaceuticals during the second quarter worth about $43,000. Integrated Wealth Concepts LLC bought a new position in Agios Pharmaceuticals during the second quarter worth about $47,000. Allworth Financial LP acquired a new position in Agios Pharmaceuticals during the second quarter worth approximately $73,000. Finally, Versant Capital Management Inc increased its position in Agios Pharmaceuticals by 378.7% during the second quarter. Versant Capital Management Inc now owns 2,001 shares of the biopharmaceutical company’s stock worth $74,000 after buying an additional 1,583 shares during the last quarter.

About Agios Pharmaceuticals

Agios Pharmaceuticals, Inc is a biopharmaceutical company focused on discovering and developing medicines for rare diseases. Based in Cambridge, Massachusetts, the company specializes in cellular metabolism and the development of therapies designed to address underlying disease biology rather than only treating symptoms.

Agios’ lead commercial product is Pyrukynd (mitapivat), an oral pyruvate kinase activator approved for the treatment of hemolytic anemia in adults with pyruvate kinase deficiency, a rare inherited blood disorder.