Agios Pharmaceuticals (NASDAQ:AGIO) Stock Breaks Above 200 Day Moving Average – What’s Next?

Agios Pharmaceuticals, Inc. (NASDAQ:AGIO)’s stock price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $31.82 and traded as high as $33.12. Agios Pharmaceuticals shares last traded at $32.82, with a volume of 844,737 shares.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on AGIO shares. Weiss Ratings downgraded Agios Pharmaceuticals from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday. Truist Financial reduced their target price on Agios Pharmaceuticals from $37.00 to $35.00 and set a “buy” rating for the company in a report on Friday, November 6th. Bank of America upped their target price on Agios Pharmaceuticals from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, September 21st. HC Wainwright increased their price target on Agios Pharmaceuticals from $55.00 to $62.00 and gave the company a “buy” rating in a report on Friday, November 6th. Finally, TD Cowen upgraded Agios Pharmaceuticals to a “strong-buy” rating in a report on Monday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $42.12.

Agios Pharmaceuticals Trading Down 0.5%

The stock has a market cap of $1.89 billion, a P/E ratio of -5.00 and a beta of 0.66. The firm’s fifty day moving average is $33.12 and its 200 day moving average is $31.83.

Agios Pharmaceuticals (NASDAQ:AGIO) last released its quarterly earnings results on Thursday, November 5th. The biopharmaceutical company reported ($1.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.24) by $0.15. The company had revenue of $55.39 million during the quarter, compared to analysts’ expectations of $51.65 million. Agios Pharmaceuticals had a negative net margin of 264.76% and a negative return on equity of 34.63%. Research analysts forecast that Agios Pharmaceuticals, Inc. will post -5.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Agios Pharmaceuticals

In related news, insider Sarah Gheuens sold 7,866 shares of the stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $37.69, for a total transaction of $296,469.54. Following the completion of the sale, the insider owned 54,645 shares in the company, valued at $2,059,570.05. This represents a 12.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 9,855 shares of company stock worth $371,112. 5.40% of the stock is currently owned by insiders.

Institutional Trading of Agios Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Agios Pharmaceuticals in the second quarter worth $239,582,000. Assenagon Asset Management S.A. increased its holdings in Agios Pharmaceuticals by 1,714.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,886,412 shares of the biopharmaceutical company’s stock valued at $62,723,000 after buying an additional 1,782,457 shares during the period. ADAR1 Capital Management LLC bought a new stake in Agios Pharmaceuticals in the 2nd quarter valued at $47,800,000. GW&K Investment Management LLC raised its stake in shares of Agios Pharmaceuticals by 15.7% in the 3rd quarter. GW&K Investment Management LLC now owns 1,396,430 shares of the biopharmaceutical company’s stock valued at $46,432,000 after buying an additional 189,815 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Agios Pharmaceuticals by 14.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,151,614 shares of the biopharmaceutical company’s stock valued at $38,940,000 after buying an additional 147,273 shares in the last quarter.

Agios Pharmaceuticals Company Profile

Agios Pharmaceuticals is a biopharmaceutical company focused on developing medicines for rare genetic diseases, particularly blood disorders. Based in Cambridge, Massachusetts, the company applies research into cellular metabolism to identify potential treatments. Its marketed medicine, PYRUKYND (mitapivat), is approved in the United States to treat adults with pyruvate kinase deficiency, a rare inherited disorder that can cause anemia. Agios also develops therapies for other rare diseases, including additional blood disorders.