Agios Pharmaceuticals (NASDAQ:AGIO) Downgraded by Leerink Partners to “Market Perform”

Leerink Partners lowered shares of Agios Pharmaceuticals (NASDAQ:AGIO) from an outperform rating to a market perform rating in a research report released on Friday morning, Marketbeat reports. The firm currently has $56.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $60.00.

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

Agios Pharmaceuticals Stock Down 5.1 %

Shares of Agios Pharmaceuticals stock opened at $45.61 on Friday. The firm 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 52 week low of $19.80 and a 52 week high of $53.28. The firm’s 50 day moving average is $45.68 and its two-hundred day moving average is $39.68.

Agios Pharmaceuticals (NASDAQ:AGIO) last issued 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). The firm had revenue of $8.60 million for the quarter, compared to analysts’ expectations of $9.34 million. Agios Pharmaceuticals had a negative return on equity of 47.05% and a negative net margin of 1,165.69%. The business’s revenue for the quarter was up 28.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.51) EPS. As a group, research analysts expect that Agios Pharmaceuticals will post -4.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Agios Pharmaceuticals

In other news, CEO Brian Goff sold 11,091 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was 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 of the company’s stock, valued at $3,368,358. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.93% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Agios Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new position in Agios Pharmaceuticals in the 2nd quarter valued at about $37,000. Quest Partners LLC purchased a new position in Agios Pharmaceuticals in the second quarter valued at about $40,000. NEOS Investment Management LLC acquired a new stake in Agios Pharmaceuticals during the 4th quarter valued at approximately $210,000. North Star Asset Management Inc. acquired a new stake in Agios Pharmaceuticals during the 2nd quarter valued at approximately $216,000. Finally, XTX Topco Ltd purchased a new stake in Agios Pharmaceuticals during the 2nd quarter worth approximately $230,000.

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.