Agios Pharmaceuticals (NASDAQ:AGIO) Shares Climb 6.7% – Should You Buy?

Agios Pharmaceuticals, Inc. (NASDAQ:AGIO)’s share price traded up 6.7% during trading on Monday. The stock traded as high as $33.19 and last traded at $33.4070. Approximately 351,030 shares changed hands during trading, a decline of 67% from the average daily volume of 1,051,051 shares. The stock had previously closed at $31.32.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AGIO shares. Royal Bank Of Canada boosted their price target on Agios Pharmaceuticals from $28.00 to $32.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 7th. TD Cowen upgraded Agios Pharmaceuticals to a “strong-buy” rating in a research note on Monday, August 24th. Truist Financial cut their price objective on Agios Pharmaceuticals from $39.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, October 7th. JPMorgan Chase & Co. boosted their target price on shares of Agios Pharmaceuticals from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Finally, HC Wainwright boosted their target price on shares of Agios Pharmaceuticals from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Agios Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.50.

Agios Pharmaceuticals Price Performance

The company has a market cap of $2.00 billion, a price-to-earnings ratio of -4.79 and a beta of 0.63. The business has a 50 day simple moving average of $33.08 and a 200 day simple moving average of $32.71.

Agios Pharmaceuticals (NASDAQ:AGIO) last announced its earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.65) by ($0.04). Agios Pharmaceuticals had a negative net margin of 418.24% and a negative return on equity of 35.67%. The business had revenue of $44.75 million during the quarter, compared to analyst estimates of $26.39 million. As a group, sell-side analysts anticipate that Agios Pharmaceuticals, Inc. will post -5.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Agios Pharmaceuticals news, insider Sarah Gheuens sold 30,000 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $30.48, for a total transaction of $914,400.00. Following the sale, the insider owned 54,645 shares of the company’s stock, valued at $1,665,579.60. This represents a 35.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Agios Pharmaceuticals

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Agios Pharmaceuticals during the second quarter valued at approximately $239,582,000. Assenagon Asset Management S.A. raised its position 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 worth $62,723,000 after purchasing an additional 1,782,457 shares during the last quarter. ADAR1 Capital Management LLC bought a new position in Agios Pharmaceuticals in the 2nd quarter worth approximately $47,800,000. Parkman Healthcare Partners LLC bought a new position in Agios Pharmaceuticals in the 2nd quarter worth approximately $24,828,000. Finally, SCS Capital Management LLC acquired a new position in Agios Pharmaceuticals during the 2nd quarter worth $22,743,000.

Agios Pharmaceuticals Company Profile

Agios Pharmaceuticals, Inc is a biopharmaceutical company focused on discovering and developing medicines for rare diseases. Based in Cambridge, Massachusetts, the company specializes in cellular metabolism and the development of therapies designed to address underlying disease biology rather than only treating symptoms.

Agios’ lead commercial product is Pyrukynd (mitapivat), an oral pyruvate kinase activator approved for the treatment of hemolytic anemia in adults with pyruvate kinase deficiency, a rare inherited blood disorder.