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

Agios Pharmaceuticals, Inc. (NASDAQ:AGIO)’s share price gapped down prior to trading on Monday . The stock had previously closed at $61.64, but opened at $56.11. Agios Pharmaceuticals shares last traded at $52.00, with a volume of 346,945 shares trading hands.

Analyst Upgrades and Downgrades

AGIO has been the topic of several analyst reports. Leerink Partners cut shares of Agios Pharmaceuticals from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $60.00 to $56.00 in a research report on Friday, September 27th. StockNews.com upgraded Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Raymond James reissued an “outperform” rating and set a $51.00 price target on shares of Agios Pharmaceuticals in a research report on Thursday, October 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $55.00 price target on shares of Agios Pharmaceuticals in a research report on Friday, November 1st. Finally, Scotiabank increased their price objective on Agios Pharmaceuticals from $53.00 to $75.00 and gave the company a “sector outperform” rating in a report on Monday. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $56.00.

Agios Pharmaceuticals Stock Performance

The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 4.57 and a beta of 0.80. The business has a fifty day simple moving average of $49.93 and a 200 day simple moving average of $46.46.

Insiders Place Their Bets

In related news, CFO Cecilia Jones sold 2,542 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $49.03, for a total transaction of $124,634.26. Following the sale, the chief financial officer now owns 20,158 shares in the company, valued at approximately $988,346.74. This trade represents a 11.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.93% of the company’s stock.

Hedge Funds Weigh In On Agios Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. Northcape Wealth Management LLC acquired a new stake in Agios Pharmaceuticals in the second quarter valued at about $244,000. Bank of New York Mellon Corp grew its holdings in shares of Agios Pharmaceuticals by 13.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 223,151 shares of the biopharmaceutical company’s stock valued at $9,622,000 after purchasing an additional 27,193 shares during the last quarter. Panagora Asset Management Inc. acquired a new position in Agios Pharmaceuticals during the 2nd quarter worth approximately $7,540,000. TD Asset Management Inc lifted its stake in Agios Pharmaceuticals by 34.6% in the 2nd quarter. TD Asset Management Inc now owns 210,472 shares of the biopharmaceutical company’s stock valued at $9,076,000 after purchasing an additional 54,054 shares during the last quarter. Finally, North Star Asset Management Inc. acquired a new stake in Agios Pharmaceuticals in the second quarter valued at approximately $216,000.

Agios Pharmaceuticals Company Profile

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.