Agios Pharmaceuticals (NASDAQ:AGIO) Sets New 52-Week High – Here’s What Happened

Shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) hit a new 52-week high during trading on Thursday . The company traded as high as $53.81 and last traded at $53.60, with a volume of 569806 shares traded. The stock had previously closed at $51.59.

Analysts Set New Price Targets

AGIO has been the topic of a number of research reports. StockNews.com raised shares of Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday. Raymond James restated an “outperform” rating and set a $51.00 price target on shares of Agios Pharmaceuticals in a research note on Thursday, October 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $55.00 price objective on shares of Agios Pharmaceuticals in a research report on Friday, November 1st. Leerink Partnrs cut Agios Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, Scotiabank lifted their target price on shares of Agios Pharmaceuticals from $51.00 to $53.00 and gave the company a “sector outperform” rating in a research report on Friday, November 1st. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $52.33.

Agios Pharmaceuticals Stock Performance

The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of 5.20, a P/E/G ratio of 0.47 and a beta of 0.75. The business’s 50-day moving average is $45.15 and its two-hundred day moving average is $42.90.

Insider Activity at Agios Pharmaceuticals

In other Agios Pharmaceuticals news, CFO Cecilia Jones sold 2,542 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $49.03, for a total value of $124,634.26. Following the completion of the sale, the chief financial officer now directly owns 20,158 shares in the company, valued at $988,346.74. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.93% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Caxton Associates LP bought a new position in shares of Agios Pharmaceuticals during the 1st quarter worth approximately $1,087,000. D. E. Shaw & Co. Inc. raised its stake in Agios Pharmaceuticals by 87.3% in the second quarter. D. E. Shaw & Co. Inc. now owns 678,234 shares of the biopharmaceutical company’s stock valued at $29,245,000 after buying an additional 316,100 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Agios Pharmaceuticals by 23.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,012,993 shares of the biopharmaceutical company’s stock valued at $58,861,000 after buying an additional 388,381 shares during the last quarter. Seven Eight Capital LP bought a new position in shares of Agios Pharmaceuticals during the 2nd quarter worth approximately $1,693,000. Finally, Edgestream Partners L.P. acquired a new position in shares of Agios Pharmaceuticals during the 2nd quarter worth approximately $1,814,000.

About Agios Pharmaceuticals

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.