Bank of America Cuts Agios Pharmaceuticals (NASDAQ:AGIO) Price Target to $41.00

Agios Pharmaceuticals (NASDAQ:AGIO) had its price objective dropped by research analysts at Bank of America from $44.00 to $41.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Bank of America‘s price objective indicates a potential upside of 52.21% from the company’s current price.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. upped their price target on Agios Pharmaceuticals from $31.00 to $36.00 and gave the company a “neutral” rating in a report on Monday, April 6th. The Goldman Sachs Group upped their price target on Agios Pharmaceuticals from $28.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, April 1st. Wall Street Zen raised Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. Truist Financial upped their price target on Agios Pharmaceuticals from $32.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, December 24th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Agios Pharmaceuticals in a research report on Friday, March 27th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $41.78.

Agios Pharmaceuticals Stock Performance

Shares of NASDAQ:AGIO traded down $0.13 during midday trading on Tuesday, reaching $26.94. 148,762 shares of the company’s stock traded hands, compared to its average volume of 979,560. The company has a market cap of $1.58 billion, a price-to-earnings ratio of -3.76 and a beta of 0.79. Agios Pharmaceuticals has a one year low of $22.24 and a one year high of $46.00. The stock has a 50 day moving average of $30.14 and a 200 day moving average of $31.74.

Insider Activity at Agios Pharmaceuticals

In related news, insider James William Burns sold 3,280 shares of the company’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $34.71, for a total transaction of $113,848.80. Following the completion of the sale, the insider owned 49,306 shares in the company, valued at approximately $1,711,411.26. This represents a 6.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. Also, insider Krishnan Viswanadhan sold 2,959 shares of the company’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $27.80, for a total value of $82,260.20. Following the sale, the insider owned 5,141 shares of the company’s stock, valued at approximately $142,919.80. This trade represents a 36.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 15,582 shares of company stock valued at $520,405 in the last 90 days. 4.93% of the stock is owned by company insiders.

Institutional Trading of Agios Pharmaceuticals

A number of hedge funds have recently bought and sold shares of AGIO. T. Rowe Price Investment Management Inc. purchased a new stake in Agios Pharmaceuticals during the fourth quarter valued at $25,000. Assetmark Inc. increased its position 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 buying an additional 362 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in Agios Pharmaceuticals in the first quarter worth about $40,000. First Horizon Corp purchased a new stake in Agios Pharmaceuticals in the third quarter worth about $45,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Agios Pharmaceuticals in the fourth quarter worth about $49,000.

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.