JPMorgan Chase & Co. Issues Positive Forecast for Agios Pharmaceuticals (NASDAQ:AGIO) Stock Price

Agios Pharmaceuticals (NASDAQ:AGIO) had its price objective raised by JPMorgan Chase & Co. from $20.00 to $25.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the biopharmaceutical company’s stock.

Several other research firms have also commented on AGIO. Leerink Partnrs upgraded Agios Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 20th. HC Wainwright raised their price objective on Agios Pharmaceuticals from $48.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, December 24th. Royal Bank Of Canada downgraded Agios Pharmaceuticals from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $57.00 to $28.00 in a research report on Wednesday, November 19th. Wall Street Zen lowered Agios Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Finally, Zacks Research raised shares of Agios Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $39.44.

Agios Pharmaceuticals Stock Performance

Shares of AGIO opened at $27.47 on Tuesday. The stock has a market capitalization of $1.60 billion, a PE ratio of -3.92 and a beta of 0.89. The company’s fifty day moving average is $31.57 and its 200 day moving average is $35.87. 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 released its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported ($1.78) EPS for the quarter, beating the consensus estimate of ($1.93) by $0.15. Agios Pharmaceuticals had a negative net margin of 895.86% and a negative return on equity of 28.35%. The business had revenue of $12.88 million during the quarter, compared to analyst estimates of $10.49 million. During the same quarter last year, the business earned $16.22 earnings per share. Agios Pharmaceuticals’s quarterly revenue was up 43.3% compared to the same quarter last year. As a group, research analysts forecast that Agios Pharmaceuticals will post -6.85 earnings per share for the current year.

Insider Buying and Selling at Agios Pharmaceuticals

In other news, insider James William Burns sold 2,932 shares of the business’s stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of $27.09, for a total transaction of $79,427.88. Following the completion of the sale, the insider directly owned 31,718 shares of the company’s stock, valued at approximately $859,240.62. The trade was a 8.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Goff sold 18,703 shares of Agios Pharmaceuticals stock in a transaction dated Tuesday, December 30th. The shares were sold at an average price of $27.09, for a total transaction of $506,664.27. Following the sale, the chief executive officer owned 136,583 shares of the company’s stock, valued at $3,700,033.47. The trade was a 12.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 34,133 shares of company stock valued at $986,930. 4.93% of the stock is owned by company insiders.

Institutional Trading of Agios Pharmaceuticals

A number of large investors have recently modified their holdings of AGIO. Wellington Management Group LLP grew its position in shares of Agios Pharmaceuticals by 485.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,471,416 shares of the biopharmaceutical company’s stock worth $99,203,000 after buying an additional 2,049,287 shares in the last quarter. TCG Crossover Management LLC grew its holdings in Agios Pharmaceuticals by 105.2% during the 3rd quarter. TCG Crossover Management LLC now owns 1,430,041 shares of the biopharmaceutical company’s stock worth $57,402,000 after acquiring an additional 733,038 shares in the last quarter. SCS Capital Management LLC bought a new stake in shares of Agios Pharmaceuticals in the 1st quarter valued at about $17,905,000. Balyasny Asset Management L.P. purchased a new stake in shares of Agios Pharmaceuticals in the 3rd quarter worth approximately $19,889,000. Finally, Erste Asset Management GmbH boosted its stake in shares of Agios Pharmaceuticals by 18.8% during the third quarter. Erste Asset Management GmbH now owns 2,764,900 shares of the biopharmaceutical company’s stock valued at $108,578,000 after purchasing an additional 438,411 shares in the last quarter.

About Agios Pharmaceuticals

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.