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

Key Points

• Agios Pharmaceuticals shares fell below their 200-day moving average, trading as low as $29.67 versus the $32.67 average, and last changing hands at $30.97.
• Despite the technical weakness, analysts maintain a generally positive outlook: the stock has a “Moderate Buy” consensus rating and an average price target of $41.50, with targets ranging from $34 to $55.
• The company remains unprofitable and missed quarterly EPS expectations, reporting a $1.69 loss per share versus the expected $1.65 loss, although revenue of $44.75 million exceeded estimates of $26.39 million.

Agios Pharmaceuticals, Inc. (NASDAQ:AGIO - Get Free Report)'s share price passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $32.67 and traded as low as $29.67. Agios Pharmaceuticals shares last traded at $30.97, with a volume of 930,895 shares.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AGIO. JPMorgan Chase & Co. increased their price target on Agios Pharmaceuticals from $31.00 to $34.00 and gave the company a "neutral" rating in a report on Friday, August 7th. Weiss Ratings reissued a "sell (d)" rating on shares of Agios Pharmaceuticals in a research note on Monday, September 21st. TD Cowen upgraded Agios Pharmaceuticals to a "strong-buy" rating in a report on Monday, August 24th. HC Wainwright upped their target price on Agios Pharmaceuticals from $52.00 to $55.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Finally, Bank of America raised their target price on Agios Pharmaceuticals from $46.00 to $50.00 and gave the stock a "buy" rating in a research note on Monday, September 21st. One 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 assigned a Sell rating to the stock. According to MarketBeat, Agios Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $41.50.

Agios Pharmaceuticals Price Performance

The company has a market cap of $1.85 billion, a PE ratio of -4.42 and a beta of 0.63. The company's 50 day simple moving average is $33.09 and its two-hundred day simple moving average is $32.67.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.69) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.65) by ($0.04). The company had revenue of $44.75 million during the quarter, compared to analysts' expectations of $26.39 million. Agios Pharmaceuticals had a negative net margin of 418.24% and a negative return on equity of 35.67%. Sell-side analysts expect that Agios Pharmaceuticals, Inc. will post -5.83 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Sarah Gheuens sold 30,000 shares of the firm's stock in a transaction dated 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 transaction, the insider directly owned 54,645 shares in the company, valued at $1,665,579.60. This trade represents a 35.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.40% of the stock is owned by company insiders.

Institutional Trading of Agios Pharmaceuticals

Several hedge funds have recently made changes to their positions in AGIO. Nykredit A S acquired a new stake in Agios Pharmaceuticals in the second quarter valued at approximately $26,000. Quantbot Technologies LP purchased a new position in Agios Pharmaceuticals in the second quarter worth approximately $43,000. Integrated Wealth Concepts LLC acquired a new position in Agios Pharmaceuticals during the 2nd quarter worth approximately $47,000. Allworth Financial LP acquired a new position in Agios Pharmaceuticals during the 2nd quarter worth approximately $73,000. Finally, Versant Capital Management Inc grew its holdings in Agios Pharmaceuticals by 378.7% during the 2nd quarter. Versant Capital Management Inc now owns 2,001 shares of the biopharmaceutical company's stock worth $74,000 after acquiring an additional 1,583 shares in the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.