Agios Pharmaceuticals (NASDAQ:AGIO) Shares Gap Down - Should You Sell?

Key Points

• Agios Pharmaceuticals (NASDAQ:AGIO) shares experienced a significant decline, opening at $31.45, down from a prior close of $35.00 and last trading at $28.09.
• Analysts have mixed ratings for Agios, with one analyst issuing a sell rating, two holding, and six maintaining a buy rating; the average target price is $56.33.
• In recent insider trading, notable sales included 2,770 shares sold by Tsveta Milanova and 11,914 shares sold by Sarah Gheuens, indicating a decrease in insider ownership.

Agios Pharmaceuticals, Inc. (NASDAQ:AGIO - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $35.00, but opened at $31.45. Agios Pharmaceuticals shares last traded at $28.09, with a volume of 650,901 shares.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Scotiabank cut their price objective on shares of 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 on the stock in a report on Tuesday, July 22nd. Finally, Wall Street Zen downgraded shares of Agios Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Agios Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $56.33.

Agios Pharmaceuticals Stock Performance

The stock's fifty day simple moving average is $36.18 and its two-hundred day simple moving average is $32.69. The stock has a market capitalization of $2.11 billion, a P/E ratio of 3.31 and a beta of 0.80.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last announced its earnings results 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 the consensus estimate of $9.46 million. Agios Pharmaceuticals had a negative return on equity of 3.49% and a net margin of 1,590.42%. As a group, analysts expect that Agios Pharmaceuticals, Inc. will post -6.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Agios Pharmaceuticals

In other news, CEO Brian Goff sold 18,700 shares of Agios Pharmaceuticals stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $33.54, for a total value of $627,198.00. Following the completion of the transaction, the chief executive officer directly owned 105,401 shares of the company's stock, valued at approximately $3,535,149.54. This trade represents a 15.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Tsveta Milanova sold 2,770 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $33.54, for a total value of $92,905.80. Following the completion of the transaction, the insider directly owned 26,122 shares in the company, valued at $876,131.88. This represents a 9.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,363 shares of company stock worth $1,619,654. Company insiders own 4.30% of the company's stock.

Institutional Trading of Agios Pharmaceuticals

Large investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its stake in Agios Pharmaceuticals by 16.7% in the second 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 in the last quarter. Summit Investment Advisors Inc. raised its stake in Agios Pharmaceuticals by 7.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,913 shares of the biopharmaceutical company's stock worth $194,000 after buying an additional 394 shares during the period. 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 worth $105,000 after acquiring an additional 499 shares in the last quarter. Nordea Investment Management AB grew its stake in Agios Pharmaceuticals by 0.3% in the second quarter. Nordea Investment Management AB now owns 224,746 shares of the biopharmaceutical company's stock valued at $7,520,000 after acquiring an additional 573 shares during the period. Finally, Federated Hermes Inc. increased its holdings in shares of Agios Pharmaceuticals by 4.4% during the fourth quarter. Federated Hermes Inc. now owns 13,691 shares of the biopharmaceutical company's stock valued at $450,000 after acquiring an additional 582 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.