Agios Pharmaceuticals (NASDAQ:AGIO) Price Target Lowered to $50.00 at HC Wainwright

Agios Pharmaceuticals (NASDAQ:AGIO) had its target price cut by HC Wainwright from $65.00 to $50.00 in a research report report published on Monday morning, MarketBeat Ratings reports. They currently have a buy rating on the biopharmaceutical company’s stock.

AGIO has been the subject of several other reports. Citigroup upped their price objective on shares of Agios Pharmaceuticals from $38.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Leerink Partners boosted their price target on shares of Agios Pharmaceuticals from $34.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, December 26th. Bank of America increased their price target on shares of Agios Pharmaceuticals from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, December 24th. JPMorgan Chase & Co. raised their price objective on shares of Agios Pharmaceuticals from $31.00 to $36.00 and gave the stock a “neutral” rating in a report on Monday, April 6th. Finally, Wall Street Zen raised Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Agios Pharmaceuticals has an average rating of “Hold” and a consensus target price of $41.00.

Agios Pharmaceuticals Stock Down 23.0%

Shares of Agios Pharmaceuticals stock opened at $27.07 on Monday. The business has a 50 day moving average of $30.14 and a 200 day moving average of $31.74. Agios Pharmaceuticals has a 52 week low of $22.24 and a 52 week high of $46.00. The company has a market cap of $1.59 billion, a PE ratio of -3.81 and a beta of 0.79.

Insider Buying and Selling

In related news, insider Krishnan Viswanadhan sold 2,959 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $27.80, for a total value of $82,260.20. Following the completion of the transaction, the insider directly owned 5,141 shares in the company, valued at $142,919.80. This trade represents a 36.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tsveta Milanova sold 3,262 shares of the business’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $34.71, for a total transaction of $113,224.02. Following the sale, the insider directly owned 46,829 shares in the company, valued at $1,625,434.59. The trade was a 6.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 15,582 shares of company stock worth $520,405 over the last 90 days. Corporate insiders own 4.93% of the company’s stock.

Institutional Trading of Agios Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. Creative Planning increased its position in Agios Pharmaceuticals by 2.2% during the 3rd quarter. Creative Planning now owns 13,119 shares of the biopharmaceutical company’s stock valued at $527,000 after buying an additional 280 shares in the last quarter. Assetmark Inc. boosted its holdings in Agios Pharmaceuticals by 37.9% in the fourth quarter. Assetmark Inc. now owns 1,317 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 362 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Agios Pharmaceuticals by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 132,083 shares of the biopharmaceutical company’s stock worth $4,393,000 after acquiring an additional 512 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Agios Pharmaceuticals by 26.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,834 shares of the biopharmaceutical company’s stock worth $77,000 after acquiring an additional 588 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its holdings in shares of Agios Pharmaceuticals by 3.4% during the third quarter. CANADA LIFE ASSURANCE Co now owns 20,325 shares of the biopharmaceutical company’s stock valued at $796,000 after acquiring an additional 662 shares in the last quarter.

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.