Agios Pharmaceuticals (NASDAQ:AGIO) Shares Gap Down – Time to Sell?

Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) shares gapped down before the market opened on Tuesday . The stock had previously closed at $40.06, but opened at $35.80. Agios Pharmaceuticals shares last traded at $39.1180, with a volume of 575,336 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Agios Pharmaceuticals in a research note on Wednesday, June 24th. HC Wainwright decreased their price target on shares of Agios Pharmaceuticals from $65.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, April 20th. JPMorgan Chase & Co. lowered their price target on Agios Pharmaceuticals from $36.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, June 11th. Truist Financial increased their price objective on Agios Pharmaceuticals from $36.00 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Finally, Bank of America raised their price objective on Agios Pharmaceuticals from $40.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $42.56.

Agios Pharmaceuticals Stock Down 8.5%

The stock’s 50 day moving average is $33.26 and its two-hundred day moving average is $30.43. The company has a market capitalization of $2.18 billion, a PE ratio of -5.07 and a beta of 0.54.

Agios Pharmaceuticals (NASDAQ:AGIO) last issued its earnings results on Wednesday, April 29th. The biopharmaceutical company reported ($1.69) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.81) by $0.12. The company had revenue of $20.75 million for the quarter, compared to analysts’ expectations of $13.30 million. Agios Pharmaceuticals had a negative net margin of 639.84% and a negative return on equity of 34.11%. Agios Pharmaceuticals’s revenue was up 137.7% on a year-over-year basis. On average, sell-side analysts predict that Agios Pharmaceuticals, Inc. will post -6.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Agios Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bellevue Group AG raised its stake in Agios Pharmaceuticals by 3.5% in the third quarter. Bellevue Group AG now owns 3,714,736 shares of the biopharmaceutical company’s stock worth $149,110,000 after buying an additional 124,586 shares in the last quarter. State Street Corp boosted its position in Agios Pharmaceuticals by 37.4% during the 4th quarter. State Street Corp now owns 3,108,145 shares of the biopharmaceutical company’s stock valued at $84,604,000 after acquiring an additional 845,433 shares in the last quarter. Erste Asset Management GmbH increased its holdings in shares of Agios Pharmaceuticals by 1.4% in the 4th quarter. Erste Asset Management GmbH now owns 2,804,900 shares of the biopharmaceutical company’s stock valued at $76,343,000 after acquiring an additional 40,000 shares during the period. Wellington Management Group LLP increased its holdings in shares of Agios Pharmaceuticals by 485.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,471,416 shares of the biopharmaceutical company’s stock valued at $99,203,000 after acquiring an additional 2,049,287 shares during the period. Finally, Commodore Capital LP raised its position in shares of Agios Pharmaceuticals by 6.4% in the 2nd quarter. Commodore Capital LP now owns 2,325,000 shares of the biopharmaceutical company’s stock worth $77,330,000 after acquiring an additional 140,000 shares in the last quarter.

About Agios Pharmaceuticals

Agios Pharmaceuticals, Inc is a biopharmaceutical company founded in 2008 as a spin-out from research at Dana-Farber Cancer Institute and the Broad Institute. Headquartered in Cambridge, Massachusetts, Agios focuses on understanding and targeting cellular metabolism to develop novel therapies for cancer and rare genetic diseases. The company’s scientific platform integrates genomic discovery, metabolic profiling and precision medicine approaches to identify and advance small-molecule candidates that correct or exploit metabolic dysfunction.

Agios’s lead products are IDH (isocitrate dehydrogenase) inhibitors that target specific cancer mutations.