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Agios Pharmaceuticals Inc (AGIO) Moving Higher

agioAgios Pharmaceuticals, Inc., (AGIO), surged over 20% to $66.98 and pulling back. This after hitting a new 52-week high yesterday at $53.45. With two hours left in the trading day Agios Pharmaceuticals is trading at $63.37 on high volume

AGIO is a biopharmaceutical company that uses in-depth knowledge of metabolism and its ability to develop medicines that inhibit or activate metabolic enzymes, thereby fundamentally changing the way inborn errors of metabolisms (IEMs) and cancer is treated. In other words, medicines being developed by Agios Pharmaceuticals, Inc. are designed to treat a subset of orphan genetic metabolic diseases by treating IEMs and cancer metabolism.

Not only has AGIO identified fresh and biological targets in IEMs it validated them. Currently, the company uses two advanced cancer programs as a means of targeting mutations in enzymes called isocitrate dehydrogenase 1 and 2, more commonly referred to as IDH1 and IDH2. Drug candidates for the company are extremely selective specific to mutated forms of these enzymes found in cancer cells opposed to normal forms of the enzymes in all other cells.

Achieving a new 52-week high is an impressive milestone for any company, making it possible to trade on the long or short side according to perspective. Some experts think when a company hits its highest price within a given year that there is momentum and no better time to buy while others interpret this accomplishment as a signal of a strong run possibly coming to an end.

Regardless of which side investors take, reaching an all-time high within a year is a critical moment that should be noted. For AGIO, this new high was on a volume of 1,048,279 for stock with a float of 34,458,016 shares, as well as a daily volume average of 415,239. With yesterday’s trading, AGIO’s market cap is now $1,841,780,955 with the 50-day SMA at $42.15 and the 200-day SMA at $37.36.

Based out of Massachusetts and with 96 employees, AGIO is also a component of the Russell 2000 Index. This tool is extremely valuable for any small cap investor and comprised of 2,000 smaller companies publically traded of the 3,000 largest companies in the United States specific to market cap. Of any existing index, the Russell 2000 Index provides the most comprehensive overview of the small cap market.

In addition, Russell Investments, which is highly committed to using methodology-based rules as a way of constructing unbiased indices different from committee-selected S&P 500 and the Down Jones Industrial Average, maintains the Russell 2000 Index.

As far as the stock market, AGIO was the big mover. The rally could be attributed to solid volume with greater shares changing hands than seen in a normal session and is the most recent uptrend for the company since stocks have risen 23.1% since February 15, 2014.

No changes pertaining to estimate revisions were witnessed by AGIO in the last 30 days and the Zacks Consensus Estimate was unchanged. However, it is encouraging to see the recent price action for Agios Pharmaceuticals, Inc., something investors want to keep a close eye on in the future. Currently, AGIO ranks number 4 on the Zacks Rank with an Earnings ESP of 0.00%.

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