Agios Pharmaceuticals (NASDAQ:AGIO) Shares Up 8.5%

Agios Pharmaceuticals, Inc. (NASDAQ:AGIO)’s stock price rose 8.5% on Tuesday . The company traded as high as $32.84 and last traded at $32.78. Approximately 654,610 shares were traded during trading, a decline of 19% from the average daily volume of 803,593 shares. The stock had previously closed at $30.21.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AGIO. JPMorgan Chase & Co. dropped their target price on shares of Agios Pharmaceuticals from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, February 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Agios Pharmaceuticals in a research note on Tuesday, April 9th. Finally, Royal Bank of Canada decreased their target price on Agios Pharmaceuticals from $43.00 to $42.00 and set an “outperform” rating on the stock in a research note on Friday, February 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $33.50.

Agios Pharmaceuticals Stock Performance

The company has a 50 day moving average of $29.91 and a 200 day moving average of $25.17. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of -5.00 and a beta of 0.83.

Agios Pharmaceuticals (NASDAQ:AGIO) last announced its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported ($1.72) EPS for the quarter, missing analysts’ consensus estimates of ($1.64) by ($0.08). Agios Pharmaceuticals had a negative return on equity of 38.08% and a negative net margin of 1,312.64%. The company had revenue of $7.10 million for the quarter, compared to analyst estimates of $7.80 million. During the same period in the prior year, the firm posted $0.67 earnings per share. The business’s quarterly revenue was up 65.1% compared to the same quarter last year. As a group, research analysts expect that Agios Pharmaceuticals, Inc. will post -5.29 EPS for the current fiscal year.

Insider Activity

In related news, insider James William Burns sold 2,642 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $32.57, for a total value of $86,049.94. Following the transaction, the insider now directly owns 34,518 shares of the company’s stock, valued at approximately $1,124,251.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Jacqualyn A. Fouse sold 7,791 shares of the stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $27.55, for a total transaction of $214,642.05. Following the completion of the sale, the director now owns 137,396 shares in the company, valued at approximately $3,785,259.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider James William Burns sold 2,642 shares of Agios Pharmaceuticals stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $32.57, for a total transaction of $86,049.94. Following the completion of the transaction, the insider now owns 34,518 shares in the company, valued at $1,124,251.26. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,035 shares of company stock worth $475,277. 4.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Agios Pharmaceuticals

Several hedge funds have recently made changes to their positions in AGIO. Assenagon Asset Management S.A. raised its stake in Agios Pharmaceuticals by 800.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 454,801 shares of the biopharmaceutical company’s stock valued at $13,298,000 after acquiring an additional 404,297 shares during the last quarter. Norges Bank acquired a new position in shares of Agios Pharmaceuticals in the fourth quarter valued at approximately $6,826,000. Frazier Life Sciences Management L.P. raised its stake in shares of Agios Pharmaceuticals by 79.2% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 523,166 shares of the biopharmaceutical company’s stock worth $11,651,000 after purchasing an additional 231,164 shares during the last quarter. Armistice Capital LLC raised its stake in shares of Agios Pharmaceuticals by 6.0% during the fourth quarter. Armistice Capital LLC now owns 3,524,000 shares of the biopharmaceutical company’s stock worth $78,479,000 after purchasing an additional 200,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Agios Pharmaceuticals by 5.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,596,764 shares of the biopharmaceutical company’s stock worth $57,832,000 after purchasing an additional 137,873 shares during the period.

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.