Agios Pharmaceuticals (NASDAQ:AGIO) Price Target Cut to $52.00 by Analysts at HC Wainwright

Agios Pharmaceuticals (NASDAQ:AGIO) had its target price decreased by HC Wainwright from $54.00 to $52.00 in a research note issued to investors on Tuesday, Marketbeat Ratings reports. HC Wainwright currently has a buy rating on the biopharmaceutical company’s stock.

A number of other analysts also recently issued reports on AGIO. Bank of America increased their price target on shares of Agios Pharmaceuticals from $40.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Agios Pharmaceuticals in a research report on Wednesday, June 24th. The Goldman Sachs Group increased their target price on shares of Agios Pharmaceuticals from $28.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 1st. Royal Bank Of Canada raised their target price on Agios Pharmaceuticals from $28.00 to $32.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. cut their price target on Agios Pharmaceuticals from $36.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, June 11th. 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $42.78.

Agios Pharmaceuticals Trading Down 6.7%

Shares of NASDAQ:AGIO opened at $37.36 on Tuesday. Agios Pharmaceuticals has a 12-month low of $22.24 and a 12-month high of $46.00. The company has a market capitalization of $2.22 billion, a PE ratio of -5.15 and a beta of 0.54. The business has a 50 day moving average of $33.44 and a two-hundred day moving average of $30.50.

Agios Pharmaceuticals (NASDAQ:AGIO) last released its quarterly earnings data on Wednesday, April 29th. The biopharmaceutical company reported ($1.69) EPS for the quarter, topping the consensus estimate of ($1.81) by $0.12. The business had revenue of $20.75 million for the quarter, compared to analyst estimates of $13.30 million. Agios Pharmaceuticals had a negative return on equity of 34.11% and a negative net margin of 639.84%.The business’s quarterly revenue was up 137.7% on a year-over-year basis. Equities research analysts predict that Agios Pharmaceuticals will post -6.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Agios Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its position in Agios Pharmaceuticals by 485.5% during the third quarter. Wellington Management Group LLP now owns 2,471,416 shares of the biopharmaceutical company’s stock worth $99,203,000 after acquiring an additional 2,049,287 shares during the period. MPM Bioimpact LLC acquired a new stake in shares of Agios Pharmaceuticals in the fourth quarter valued at about $35,478,000. State Street Corp increased its stake in shares of Agios Pharmaceuticals by 37.4% during the fourth quarter. State Street Corp now owns 3,108,145 shares of the biopharmaceutical company’s stock worth $84,604,000 after purchasing an additional 845,433 shares in the last quarter. TCG Crossover Management LLC increased its stake in shares of Agios Pharmaceuticals by 105.2% during the third quarter. TCG Crossover Management LLC now owns 1,430,041 shares of the biopharmaceutical company’s stock worth $57,402,000 after purchasing an additional 733,038 shares in the last quarter. Finally, Capital International Investors acquired a new position in shares of Agios Pharmaceuticals during the 4th quarter worth about $19,159,000.

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.