Agios Pharmaceuticals (NASDAQ:AGIO) Share Price Crosses Above 50 Day Moving Average – Here’s Why

Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $37.51 and traded as high as $41.06. Agios Pharmaceuticals shares last traded at $40.89, with a volume of 401,602 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AGIO shares. Scotiabank reduced their target price on Agios Pharmaceuticals from $71.00 to $65.00 and set a “sector outperform” rating for the company in a report on Monday, July 28th. Bank of America decreased their price target on shares of Agios Pharmaceuticals from $52.00 to $51.00 and set a “buy” rating for the company in a research note on Tuesday, July 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $56.00 target price on shares of Agios Pharmaceuticals in a report on Thursday, September 4th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Agios Pharmaceuticals in a report on Saturday, September 27th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Agios Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

Agios Pharmaceuticals Stock Up 1.0%

The firm’s fifty day simple moving average is $37.51 and its 200-day simple moving average is $33.91. The company has a market cap of $2.38 billion, a PE ratio of 3.72 and a beta of 0.83.

Agios Pharmaceuticals (NASDAQ:AGIO) last issued its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported ($1.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.74) by ($0.19). The company had revenue of $12.50 million for the quarter, compared to analyst estimates of $9.46 million. Agios Pharmaceuticals had a negative return on equity of 3.49% and a net margin of 1,590.42%. On average, analysts predict that Agios Pharmaceuticals, Inc. will post -6.85 earnings per share for the current year.

Insider Buying and Selling at Agios Pharmaceuticals

In other news, insider Theodore James Jr. Washburn sold 8,546 shares of Agios Pharmaceuticals stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $36.87, for a total transaction of $315,091.02. Following the completion of the sale, the insider directly owned 868 shares in the company, valued at $32,003.16. The trade was a 90.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David Scadden sold 1,400 shares of the company’s stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $40.00, for a total transaction of $56,000.00. Following the transaction, the director directly owned 17,603 shares in the company, valued at $704,120. The trade was a 7.37% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,596 shares of company stock valued at $1,364,438. 4.93% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Agios Pharmaceuticals by 16.7% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,237 shares of the biopharmaceutical company’s stock valued at $74,000 after purchasing an additional 320 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Agios Pharmaceuticals by 16.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,582 shares of the biopharmaceutical company’s stock valued at $105,000 after acquiring an additional 499 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Agios Pharmaceuticals by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 132,083 shares of the biopharmaceutical company’s stock valued at $4,393,000 after acquiring an additional 512 shares during the period. Nordea Investment Management AB raised its holdings in shares of Agios Pharmaceuticals by 0.3% in the 2nd quarter. Nordea Investment Management AB now owns 224,746 shares of the biopharmaceutical company’s stock worth $7,520,000 after purchasing an additional 573 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of Agios Pharmaceuticals by 1.2% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 55,284 shares of the biopharmaceutical company’s stock valued at $1,839,000 after purchasing an additional 633 shares in the last quarter.

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.