JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Agios Pharmaceuticals (NASDAQ:AGIO) Stock

Agios Pharmaceuticals (NASDAQ:AGIO) had its price target boosted by research analysts at JPMorgan Chase & Co. from $31.00 to $36.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 3.78% from the stock’s previous close.

A number of other analysts have also commented on AGIO. Wall Street Zen upgraded shares of Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. HC Wainwright raised their target price on shares of Agios Pharmaceuticals from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Citigroup lifted their target price on shares of Agios Pharmaceuticals from $38.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Bank of America boosted their target price on shares of Agios Pharmaceuticals from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, December 24th. Finally, Leerink Partners raised their price target on Agios Pharmaceuticals from $34.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, December 26th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Agios Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $42.67.

Agios Pharmaceuticals Price Performance

Shares of Agios Pharmaceuticals stock traded down $0.51 during trading on Monday, hitting $34.69. 557,156 shares of the company’s stock traded hands, compared to its average volume of 925,515. Agios Pharmaceuticals has a 1 year low of $22.24 and a 1 year high of $46.00. The business has a 50-day simple moving average of $28.88 and a 200-day simple moving average of $32.14. The stock has a market capitalization of $2.03 billion, a P/E ratio of -4.90 and a beta of 0.79.

Insider Activity

In related news, insider Krishnan Viswanadhan sold 2,959 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $27.80, for a total transaction of $82,260.20. Following the completion of the sale, the insider directly owned 5,141 shares in the company, valued at approximately $142,919.80. The trade was a 36.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. bought a new stake in shares of Agios Pharmaceuticals during the 4th quarter valued at $25,000. Assetmark Inc. raised its holdings in Agios Pharmaceuticals by 37.9% in the 4th quarter. Assetmark Inc. now owns 1,317 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 362 shares during the period. NewEdge Advisors LLC purchased a new position in Agios Pharmaceuticals during the first quarter valued at $40,000. First Horizon Corp bought a new stake in Agios Pharmaceuticals during the third quarter valued at about $45,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Agios Pharmaceuticals during the fourth quarter valued at about $49,000.

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.