Agios Pharmaceuticals (NASDAQ:AGIO) Sees Strong Trading Volume – Time to Buy?

Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) saw unusually-high trading volume on Monday . Approximately 342,761 shares traded hands during mid-day trading, a decline of 43% from the previous session’s volume of 599,397 shares.The stock last traded at $33.25 and had previously closed at $32.19.

Wall Street Analysts Forecast Growth

AGIO has been the subject of several recent analyst reports. Cantor Fitzgerald restated an “overweight” rating on shares of Agios Pharmaceuticals in a research note on Wednesday, December 18th. Leerink Partners downgraded shares of Agios Pharmaceuticals from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $60.00 to $56.00 in a report on Friday, September 27th. Raymond James reissued an “outperform” rating and set a $51.00 price objective on shares of Agios Pharmaceuticals in a report on Thursday, October 10th. Leerink Partnrs cut shares of Agios Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Friday, September 27th. Finally, Royal Bank of Canada lifted their target price on shares of Agios Pharmaceuticals from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Agios Pharmaceuticals currently has an average rating of “Hold” and an average target price of $56.33.

Agios Pharmaceuticals Price Performance

The company has a market capitalization of $1.88 billion, a P/E ratio of 2.90 and a beta of 0.87. The firm’s 50-day moving average is $47.63 and its 200-day moving average is $45.77.

Institutional Investors Weigh In On Agios Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC purchased a new position in Agios Pharmaceuticals during the second quarter valued at $37,000. Quest Partners LLC bought a new position in shares of Agios Pharmaceuticals in the second quarter worth about $40,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Agios Pharmaceuticals by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,058 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 363 shares in the last quarter. CWM LLC grew its stake in shares of Agios Pharmaceuticals by 554.7% during the 3rd quarter. CWM LLC now owns 2,167 shares of the biopharmaceutical company’s stock valued at $96,000 after acquiring an additional 1,836 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in Agios Pharmaceuticals in the 3rd quarter worth approximately $146,000.

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.