Agios Pharmaceuticals (NASDAQ:AGIO) Shares Cross Below 200-Day Moving Average - Should You Sell?

Key Points

• Agios Pharmaceuticals shares fell below their 200-day moving average, trading as low as $31.65 versus the $32.50 average, and last changing hands at $31.80.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $41.75, despite target changes ranging from $32 to $52 and one sell rating.
• The company reported a quarterly loss of $1.69 per share, slightly worse than expectations, although revenue of $44.75 million exceeded estimates; analysts expect a full-year loss of $5.82 per share.

Agios Pharmaceuticals, Inc. (NASDAQ:AGIO - Get Free Report) passed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $32.50 and traded as low as $31.65. Agios Pharmaceuticals shares last traded at $31.80, with a volume of 569,934 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Truist Financial lowered their target price on Agios Pharmaceuticals from $41.00 to $39.00 and set a "buy" rating for the company in a report on Friday, July 31st. Citigroup lifted 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. Weiss Ratings restated a "sell (d)" rating on shares of Agios Pharmaceuticals in a report on Monday, September 21st. JPMorgan Chase & Co. upped their price objective on Agios Pharmaceuticals from $31.00 to $34.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. Finally, Royal Bank Of Canada raised their price objective on shares of Agios Pharmaceuticals from $28.00 to $32.00 and gave the company a "sector perform" rating in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Agios Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $41.75.

Agios Pharmaceuticals Price Performance

The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -4.54 and a beta of 0.63. The firm's fifty day moving average is $33.37 and its 200-day moving average is $32.50.

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 return on equity of 35.67% and a negative net margin of 418.24%.The business had revenue of $44.75 million for the quarter, compared to analyst estimates of $26.39 million. As a group, equities research analysts anticipate that Agios Pharmaceuticals, Inc. will post -5.82 EPS for the current year.

Insider Buying and Selling

In related news, insider Sarah Gheuens sold 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $30.48, for a total transaction of $914,400.00. Following the completion of the sale, the insider owned 54,645 shares of the company's stock, valued at $1,665,579.60. This trade represents a 35.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Agios Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the business. Nykredit A S acquired a new stake in Agios Pharmaceuticals in the second quarter worth $26,000. Quantinno Capital Management LP raised its holdings in shares of Agios Pharmaceuticals by 2.7% during the first quarter. Quantinno Capital Management LP now owns 27,591 shares of the biopharmaceutical company's stock valued at $933,000 after purchasing an additional 736 shares during the period. AlphaCentric Advisors LLC boosted its position in shares of Agios Pharmaceuticals by 6.3% during the 1st quarter. AlphaCentric Advisors LLC now owns 13,971 shares of the biopharmaceutical company's stock worth $473,000 after purchasing an additional 830 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Agios Pharmaceuticals during the 2nd quarter worth about $43,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Agios Pharmaceuticals in the 2nd quarter valued at about $47,000.

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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