Agios Pharmaceuticals (NASDAQ:AGIO) Shares Gap Down – Time to Sell?

Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) gapped down prior to trading on Friday . The stock had previously closed at $30.42, but opened at $29.09. Agios Pharmaceuticals shares last traded at $29.4890, with a volume of 220,750 shares changing hands.

Analyst Ratings Changes

AGIO has been the topic of a number of recent research reports. Bank of America dropped their target price on Agios Pharmaceuticals from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. Truist Financial decreased their target price on shares of Agios Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Weiss Ratings reiterated a “sell (d)” rating on shares of Agios Pharmaceuticals in a research report on Friday, March 27th. HC Wainwright dropped their price target on shares of Agios Pharmaceuticals from $65.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Finally, The Goldman Sachs Group increased their price target on Agios Pharmaceuticals from $28.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 1st. Six 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $41.56.

Agios Pharmaceuticals Stock Performance

The firm’s 50 day simple moving average is $29.65 and its 200-day simple moving average is $29.16. The company has a market cap of $1.78 billion, a price-to-earnings ratio of -4.13 and a beta of 0.58.

Agios Pharmaceuticals (NASDAQ:AGIO) last released its earnings results on Wednesday, April 29th. The biopharmaceutical company reported ($1.69) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.81) by $0.12. Agios Pharmaceuticals had a negative net margin of 639.84% and a negative return on equity of 34.11%. The business had revenue of $20.75 million for the quarter, compared to analyst estimates of $13.30 million. The firm’s revenue for the quarter was up 137.7% compared to the same quarter last year. As a group, sell-side analysts expect that Agios Pharmaceuticals, Inc. will post -6.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other Agios Pharmaceuticals news, insider Tsveta Milanova sold 3,262 shares of the firm’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $34.71, for a total value of $113,224.02. Following the completion of the sale, the insider directly owned 46,829 shares of the company’s stock, valued at $1,625,434.59. This trade represents a 6.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Krishnan Viswanadhan sold 2,959 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $27.80, for a total value of $82,260.20. Following the completion of the sale, the insider directly owned 5,141 shares of the company’s stock, valued at $142,919.80. This trade represents a 36.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 15,582 shares of company stock worth $520,405. 5.40% of the stock is currently owned by company insiders.

Institutional Trading of Agios Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System grew its stake in shares of Agios Pharmaceuticals by 28.8% in the 1st quarter. California State Teachers Retirement System now owns 68,564 shares of the biopharmaceutical company’s stock valued at $2,320,000 after buying an additional 15,325 shares during the period. Eversept Partners LP acquired a new position in shares of Agios Pharmaceuticals in the 1st quarter valued at $6,766,000. Quantinno Capital Management LP lifted its stake in shares of Agios Pharmaceuticals by 2.7% in the 1st quarter. Quantinno Capital Management LP now owns 27,591 shares of the biopharmaceutical company’s stock valued at $933,000 after purchasing an additional 736 shares during the last quarter. Pale Fire Capital SE lifted its stake in shares of Agios Pharmaceuticals by 15.2% in the 1st quarter. Pale Fire Capital SE now owns 13,650 shares of the biopharmaceutical company’s stock valued at $462,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Agios Pharmaceuticals in the 1st quarter valued at $8,473,000.

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.