Agios Pharmaceuticals (NASDAQ:AGIO) Cut 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 to clients and investors on Friday, MarketBeat Ratings reports. They currently have a $56.00 price target on the biopharmaceutical company’s stock, down from their prior price target of $60.00. Leerink Partners’ price target would indicate a potential upside of 22.78% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Agios Pharmaceuticals in a research report on Friday, September 20th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $46.00 target price on shares of Agios Pharmaceuticals in a report on Thursday, June 13th. The Goldman Sachs Group increased their target price on shares of Agios Pharmaceuticals from $33.00 to $53.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 4th. Royal Bank of Canada restated an “outperform” rating and issued a $55.00 price target on shares of Agios Pharmaceuticals in a research report on Thursday, September 19th. Finally, StockNews.com cut Agios Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Agios Pharmaceuticals has a consensus rating of “Hold” and an average target price of $52.50.

Agios Pharmaceuticals Stock Performance

Agios Pharmaceuticals stock opened at $45.61 on Friday. The company has a market capitalization of $2.59 billion, a P/E ratio of -7.22 and a beta of 0.75. Agios Pharmaceuticals has a fifty-two week low of $19.80 and a fifty-two week high of $53.28. The stock has a 50-day simple moving average of $45.68 and a 200-day simple moving average of $39.74.

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

Insider Activity

In related news, CEO Brian Goff sold 11,091 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $42.75, for a total value of $474,140.25. Following the completion of the sale, the chief executive officer now owns 78,792 shares in the company, valued at $3,368,358. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 4.93% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Acadian Asset Management LLC purchased a new stake in shares of Agios Pharmaceuticals during the 2nd quarter worth $37,000. Quest Partners LLC acquired a new stake in shares of Agios Pharmaceuticals in the second quarter valued at about $40,000. North Star Asset Management Inc. acquired a new stake in shares of Agios Pharmaceuticals in the second quarter valued at about $216,000. XTX Topco Ltd purchased a new stake in Agios Pharmaceuticals during the second quarter worth about $230,000. Finally, Northcape Wealth Management LLC acquired a new position in Agios Pharmaceuticals during the second quarter worth about $244,000.

Agios Pharmaceuticals Company Profile

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.