Agios Pharmaceuticals (NASDAQ:AGIO) Price Target Cut to $30.00 by Analysts at JPMorgan Chase & Co.

Agios Pharmaceuticals is a biopharmaceutical company that specializes in developing and commercializing treatments for rare genetic disorders. The company's flagship product, Tricabridine Capsules (Tricabrine), is used to treat the rare genetic disorder known as porphyria cutanea tarda (PCT).

On Friday morning, JPMorgan Chase & Co., a multinational investment bank and financial services company, released a research report on Agios Pharmaceuticals. The brokerage firm downgraded its price target for the company's stock from $31.00 to $30.00. This means that JPMorgan Chase & Co. now believes that the stock is worth $30.00 per share, rather than $31.00 as previously thought.

It's important to note that a price target is an estimate of a stock's future price by a brokerage firm or investment analyst. It is not a guarantee of the stock's future performance and should be taken into consideration when making investment decisions.

JPMorgan Chase & Co. currently has a neutral rating on Agios Pharmaceuticals' stock, which means that the brokerage firm does not believe that the stock is overvalued or undervalued at its current price. Other equities analysts have also issued reports about the company, but it is not clear what their ratings are.

It's worth noting that Agios Pharmaceuticals has had some challenges in recent years. In 2019, the company faced regulatory setbacks for its product Tricabridine Capsules (Tricabrine) in Europe, which led to a decline in the stock's price. Additionally, in 2020, the company announced that it would be discontinuing its product Tricabridine Capsules (Tricabrine) in the United States due to low sales.

Despite these challenges, Agios Pharmaceuticals continues to develop and commercialize treatments for rare genetic disorders. The company's pipeline includes several potential new products that are in various stages of development.