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

Agios Pharmaceuticals (NASDAQ:AGIO) had its price objective increased by equities research analysts at JPMorgan Chase & Co. from $31.00 to $34.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 7.19% from the company’s current price.

Several other analysts have also recently weighed in on the company. HC Wainwright boosted their price target on Agios Pharmaceuticals from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Royal Bank Of Canada raised 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. Bank of America lifted their target price on shares of Agios Pharmaceuticals from $40.00 to $46.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Weiss Ratings reissued a “sell (d)” rating on shares of Agios Pharmaceuticals in a report on Wednesday, June 24th. Finally, Citigroup upped 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. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Agios Pharmaceuticals currently has an average rating of “Hold” and an average price target of $41.25.

Agios Pharmaceuticals Price Performance

Shares of NASDAQ AGIO traded down $0.23 during mid-day trading on Friday, hitting $31.72. 312,049 shares of the stock traded hands, compared to its average volume of 1,056,686. The company has a market cap of $1.89 billion, a PE ratio of -4.52 and a beta of 0.58. Agios Pharmaceuticals has a twelve month low of $22.24 and a twelve month high of $46.00. The firm has a 50 day simple moving average of $34.69 and a two-hundred day simple moving average of $31.00.

Agios Pharmaceuticals (NASDAQ:AGIO) last issued its earnings results 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 firm had revenue of $44.75 million during the quarter, compared to analyst estimates of $26.39 million. Agios Pharmaceuticals had a negative return on equity of 35.67% and a negative net margin of 418.24%. On average, equities research analysts anticipate that Agios Pharmaceuticals will post -6.12 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Trading of Agios Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. bought a new position in Agios Pharmaceuticals during the 4th quarter worth approximately $25,000. Assetmark Inc. boosted its stake in shares of Agios Pharmaceuticals by 37.9% in the 4th quarter. Assetmark Inc. now owns 1,317 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 362 shares during the last quarter. NewEdge Advisors LLC bought a new stake in shares of Agios Pharmaceuticals in the 1st quarter valued at $40,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Agios Pharmaceuticals during the fourth quarter worth $49,000. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in shares of Agios Pharmaceuticals during the fourth quarter worth $72,000.

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.