Agios Pharmaceuticals (NASDAQ:AGIO) Rating Lowered to Market Perform at Leerink Partners

Agios Pharmaceuticals (NASDAQ:AGIO) was downgraded by research analysts at Leerink Partners from an “outperform” rating to a “market perform” rating in a research report issued on Friday, MarketBeat.com reports. They currently have a $56.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $60.00. Leerink Partners’ target price suggests a potential upside of 22.78% from the company’s current price.

Several other brokerages have also recently issued reports on AGIO. Royal Bank of Canada reissued an “outperform” rating and set a $55.00 price target on shares of Agios Pharmaceuticals in a research report on Thursday, September 19th. The Goldman Sachs Group lifted their price objective on shares of Agios Pharmaceuticals from $33.00 to $53.00 and gave the company a “neutral” rating in a report on Tuesday, June 4th. Cantor Fitzgerald restated an “overweight” rating on shares of Agios Pharmaceuticals in a report on Friday, September 20th. StockNews.com cut shares of Agios Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $46.00 price objective on shares of Agios Pharmaceuticals in a report on Thursday, June 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Agios Pharmaceuticals has an average rating of “Hold” and a consensus target price of $52.50.

Agios Pharmaceuticals Stock Down 5.1 %

Shares of NASDAQ AGIO opened at $45.61 on Friday. The business’s 50 day moving average is $45.68 and its two-hundred day moving average is $39.74. Agios Pharmaceuticals has a 52-week low of $19.80 and a 52-week high of $53.28. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of -7.22 and a beta of 0.75.

Agios Pharmaceuticals (NASDAQ:AGIO) last posted its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($1.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($0.09). Agios Pharmaceuticals had a negative net margin of 1,165.69% and a negative return on equity of 47.05%. The firm had revenue of $8.60 million during the quarter, compared to analysts’ expectations of $9.34 million. During the same quarter in the prior year, the firm posted ($1.51) EPS. Agios Pharmaceuticals’s quarterly revenue was up 28.4% compared to the same quarter last year. Analysts anticipate that Agios Pharmaceuticals will post -4.85 EPS for the current fiscal year.

Insider Activity at Agios Pharmaceuticals

In other Agios Pharmaceuticals news, CEO Brian Goff sold 11,091 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $42.75, for a total transaction of $474,140.25. Following the completion of the transaction, the chief executive officer now owns 78,792 shares in the company, valued at approximately $3,368,358. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.93% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new position in Agios Pharmaceuticals during the 2nd quarter worth approximately $37,000. Quest Partners LLC acquired a new position in Agios Pharmaceuticals during the 2nd quarter worth approximately $40,000. North Star Asset Management Inc. acquired a new position in Agios Pharmaceuticals during the 2nd quarter worth approximately $216,000. XTX Topco Ltd acquired a new position in Agios Pharmaceuticals during the 2nd quarter worth approximately $230,000. Finally, Northcape Wealth Management LLC acquired a new position in Agios Pharmaceuticals during the 2nd quarter worth approximately $244,000.

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.