Agios Pharmaceuticals (NASDAQ:AGIO) Shares Up 3.1% on Analyst Upgrade

Agios Pharmaceuticals, Inc. (NASDAQ:AGIO)’s share price traded up 3.1% during trading on Tuesday after The Goldman Sachs Group raised their price target on the stock from $33.00 to $53.00. The Goldman Sachs Group currently has a neutral rating on the stock. Agios Pharmaceuticals traded as high as $45.24 and last traded at $45.17. 75,331 shares changed hands during trading, a decline of 91% from the average session volume of 808,112 shares. The stock had previously closed at $43.83.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. reduced their price objective on Agios Pharmaceuticals from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Friday, February 23rd. StockNews.com upgraded Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Agios Pharmaceuticals in a report on Tuesday, April 9th. Finally, Royal Bank of Canada upped their price objective on Agios Pharmaceuticals from $44.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Agios Pharmaceuticals has an average rating of “Hold” and an average target price of $45.33.

Insider Transactions at Agios Pharmaceuticals

In other news, Director Jacqualyn A. Fouse sold 7,791 shares of Agios Pharmaceuticals stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $27.55, for a total value of $214,642.05. Following the completion of the sale, the director now directly owns 137,396 shares of the company’s stock, valued at approximately $3,785,259.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.93% of the stock is currently owned by insiders.

Institutional Trading of Agios Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Farallon Capital Management LLC boosted its holdings in shares of Agios Pharmaceuticals by 34.1% during the first quarter. Farallon Capital Management LLC now owns 5,590,602 shares of the biopharmaceutical company’s stock worth $163,469,000 after acquiring an additional 1,423,000 shares during the period. Vanguard Group Inc. boosted its stake in Agios Pharmaceuticals by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 5,572,021 shares of the biopharmaceutical company’s stock valued at $162,926,000 after purchasing an additional 44,583 shares during the last quarter. Armistice Capital LLC boosted its stake in Agios Pharmaceuticals by 6.0% during the 4th quarter. Armistice Capital LLC now owns 3,524,000 shares of the biopharmaceutical company’s stock valued at $78,479,000 after purchasing an additional 200,000 shares during the last quarter. Rock Springs Capital Management LP boosted its stake in shares of Agios Pharmaceuticals by 0.9% in the 3rd quarter. Rock Springs Capital Management LP now owns 2,710,061 shares of the biopharmaceutical company’s stock worth $67,074,000 after buying an additional 23,894 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Agios Pharmaceuticals by 5.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,596,764 shares of the biopharmaceutical company’s stock worth $57,832,000 after buying an additional 137,873 shares during the last quarter.

Agios Pharmaceuticals Stock Performance

The stock has a market cap of $2.69 billion, a PE ratio of -7.49 and a beta of 0.77. The business has a 50 day moving average price of $32.44 and a two-hundred day moving average price of $27.80.

Agios Pharmaceuticals (NASDAQ:AGIO) last released its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($1.45) EPS for the quarter, beating analysts’ consensus estimates of ($1.65) by $0.20. Agios Pharmaceuticals had a negative net margin of 1,199.26% and a negative return on equity of 41.41%. The firm had revenue of $8.19 million during the quarter, compared to analyst estimates of $8.37 million. During the same period in the previous year, the business earned ($1.47) EPS. The business’s revenue for the quarter was up 46.0% on a year-over-year basis. As a group, research analysts anticipate that Agios Pharmaceuticals, Inc. will post -5.11 earnings per share for the current year.

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.