Agios Pharmaceuticals (NASDAQ:AGIO) Shares Climb 6.7% - What's Next?

Key Points

• Agios Pharmaceuticals shares rose 6.7% to approximately $33.41, although trading volume was 67% below the average session level.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $41.50; several firms recently raised their targets to as high as $55.
• The company reported a quarterly loss of $1.69 per share, missing estimates, but revenue of $44.75 million exceeded forecasts. Institutional investors, including BlackRock and Assenagon, have recently built sizable positions.

Agios Pharmaceuticals, Inc. (NASDAQ:AGIO - Get Free Report) shares traded up 6.7% on Monday. The company 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 session volume of 1,051,051 shares. The stock had previously closed at $31.32.

Analyst Ratings Changes

Several equities research analysts recently commented on AGIO shares. Citigroup boosted their price target on Agios Pharmaceuticals from $46.00 to $52.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Truist Financial decreased their target price on shares of Agios Pharmaceuticals from $39.00 to $37.00 and set a "buy" rating for the company in a research report on Wednesday, October 7th. JPMorgan Chase & Co. increased their price target on shares of Agios Pharmaceuticals from $31.00 to $34.00 and gave the stock a "neutral" rating in a research note on Friday, August 7th. HC Wainwright increased their target price on shares of Agios Pharmaceuticals from $52.00 to $55.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Finally, Bank of America increased their target price on shares of Agios Pharmaceuticals from $46.00 to $50.00 and gave the stock a "buy" rating in a research report on Monday, September 21st. 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 issued a Sell rating to the stock. Based on data from MarketBeat, Agios Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus target price of $41.50.

Agios Pharmaceuticals Stock Up 7.2%

The stock's 50-day moving average is $33.08 and its 200-day moving average is $32.71. The firm has a market cap of $2.00 billion, a P/E ratio of -4.79 and a beta of 0.63.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last issued its quarterly 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 company had revenue of $44.75 million during the quarter, compared to the consensus estimate of $26.39 million. As a group, analysts expect that Agios Pharmaceuticals, Inc. will post -5.83 EPS for the current fiscal year.

Insider Activity

In other news, insider Sarah Gheuens sold 30,000 shares of the business's 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 transaction, the insider owned 54,645 shares in the company, valued at approximately $1,665,579.60. The trade was a 35.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 5.40% of the company's stock.

Institutional Investors Weigh In On Agios Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Agios Pharmaceuticals in the second quarter worth about $239,582,000. Assenagon Asset Management S.A. lifted its stake in Agios Pharmaceuticals by 1,714.6% during the third 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 period. ADAR1 Capital Management LLC acquired a new stake in Agios Pharmaceuticals during the second quarter valued at approximately $47,800,000. Parkman Healthcare Partners LLC acquired a new stake in Agios Pharmaceuticals during the second quarter valued at approximately $24,828,000. Finally, SCS Capital Management LLC acquired a new stake in Agios Pharmaceuticals during the second quarter valued at approximately $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.

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