HC Wainwright Reaffirms “Buy” Rating for Agios Pharmaceuticals (NASDAQ:AGIO)

Agios Pharmaceuticals (NASDAQ:AGIO)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a report released on Thursday,Benzinga reports. They presently have a $56.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price target suggests a potential upside of 55.51% from the company’s current price.

AGIO has been the topic of several other research reports. Scotiabank cut their price target on shares of Agios Pharmaceuticals from $71.00 to $65.00 and set a “sector outperform” rating on the stock in a report on Monday, July 28th. Wall Street Zen cut shares of Agios Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, May 19th. Finally, Bank of America lowered their price target on shares of Agios Pharmaceuticals from $52.00 to $51.00 and set a “buy” rating on the stock in a report on Tuesday, July 22nd. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $56.00.

Agios Pharmaceuticals Trading Down 0.3%

Shares of NASDAQ:AGIO opened at $36.01 on Thursday. Agios Pharmaceuticals has a twelve month low of $23.42 and a twelve month high of $62.58. The company’s 50 day moving average is $37.58 and its 200 day moving average is $33.21. The company has a market cap of $2.09 billion, a PE ratio of 3.27 and a beta of 0.87.

Agios Pharmaceuticals (NASDAQ:AGIO) last issued its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported ($1.93) earnings per share for the quarter, missing the consensus estimate of ($1.74) by ($0.19). Agios Pharmaceuticals had a negative return on equity of 3.49% and a net margin of 1,590.42%.The business had revenue of $12.50 million during the quarter, compared to analyst estimates of $9.46 million. Equities research analysts predict that Agios Pharmaceuticals will post -6.85 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Sarah Gheuens sold 11,914 shares of Agios Pharmaceuticals stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $37.99, for a total value of $452,612.86. Following the sale, the insider owned 61,271 shares of the company’s stock, valued at approximately $2,327,685.29. This trade represents a 16.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tsveta Milanova sold 2,770 shares of Agios Pharmaceuticals stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $33.54, for a total transaction of $92,905.80. Following the completion of the sale, the insider directly owned 26,122 shares in the company, valued at $876,131.88. This represents a 9.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 57,448 shares of company stock valued at $2,026,141 in the last three months. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Agios Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Agios Pharmaceuticals by 16.7% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,237 shares of the biopharmaceutical company’s stock valued at $74,000 after purchasing an additional 320 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Agios Pharmaceuticals by 16.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,582 shares of the biopharmaceutical company’s stock valued at $105,000 after purchasing an additional 499 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Agios Pharmaceuticals by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 132,083 shares of the biopharmaceutical company’s stock valued at $4,393,000 after purchasing an additional 512 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Agios Pharmaceuticals by 0.3% in the 2nd quarter. Nordea Investment Management AB now owns 224,746 shares of the biopharmaceutical company’s stock valued at $7,520,000 after purchasing an additional 573 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in Agios Pharmaceuticals by 1.2% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 55,284 shares of the biopharmaceutical company’s stock valued at $1,839,000 after purchasing an additional 633 shares in the last quarter.

About Agios Pharmaceuticals

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.