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

Agios Pharmaceuticals, Inc. (NASDAQ:AGIO)’s share price 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 trading hands.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AGIO shares. HC Wainwright dropped their price objective on Agios Pharmaceuticals from $65.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Truist Financial dropped their price objective on Agios Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. The Goldman Sachs Group lifted their price objective on Agios Pharmaceuticals from $28.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, April 1st. Citigroup lifted their price objective on shares of Agios Pharmaceuticals from $38.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Agios Pharmaceuticals in a report on Friday, March 27th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $41.56.

Agios Pharmaceuticals Stock Down 1.5%

The stock has a market capitalization of $1.78 billion, a PE ratio of -4.13 and a beta of 0.58. The stock has a fifty day moving average of $29.65 and a 200-day moving average of $29.16.

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

Insider Transactions at Agios Pharmaceuticals

In related news, insider James William Burns sold 3,280 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $34.71, for a total value of $113,848.80. Following the sale, the insider owned 49,306 shares of the company’s stock, valued at $1,711,411.26. This trade represents a 6.24% decrease in their ownership of the stock. 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 Sarah Gheuens sold 2,940 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $34.71, for a total transaction of $102,047.40. Following the completion of the sale, the insider directly owned 80,277 shares in the company, valued at approximately $2,786,414.67. This trade represents a 3.53% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders have sold 15,582 shares of company stock valued at $520,405 over the last quarter. Insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Agios Pharmaceuticals

Several large investors have recently bought and sold shares of AGIO. T. Rowe Price Investment Management Inc. purchased a new position in Agios Pharmaceuticals in the fourth quarter valued at $25,000. Assetmark Inc. increased its holdings in Agios Pharmaceuticals by 37.9% in the fourth quarter. Assetmark Inc. now owns 1,317 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 362 shares during the last quarter. NewEdge Advisors LLC acquired a new position in Agios Pharmaceuticals in the first quarter valued at approximately $40,000. Caitong International Asset Management Co. Ltd acquired a new position in Agios Pharmaceuticals in the fourth quarter valued at approximately $49,000. Finally, Eurizon Capital SGR S.p.A. acquired a new position in Agios Pharmaceuticals in the fourth quarter valued at approximately $72,000.

Agios Pharmaceuticals Company Profile

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.