Agios Pharmaceuticals, Inc. (NASDAQ: AGIO) shares rose in value on Tuesday January 17 on slower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, in early trade, the Dow Jones Industrial Average was 47 points lower, or 0.24% to 19838, the S&P 500 fell 7 points, or 0.29% to 2267, while the Nasdaq was down 19 points, or 0.35% to 5554.
Analysts at Oppenheimer Holdings, Inc. upgraded shares of Agios Pharmaceuticals, Inc. (NASDAQ: AGIO) from Market Perform to Outperform today. Oppenheimer Holdings, Inc. currently has a rating of Outperform on the stock. A number of other analysts have spoken on the company recently, and Agios Pharmaceuticals, Inc. has secured a consensus one-year price target of $59.25, above the opening price of $43.51, a difference of 14.18 percent. Agios Pharmaceuticals, Inc. stock has a 52-week high of $67.74. Share prices sometimes get a boost to the upside when analysts upgrade a stock.
Shares of Agios Pharmaceuticals, Inc. (NASDAQ: AGIO) opened at $43.51 yesterday and traded in a range between, $41.08 and $43.94, and last traded at $41.77, which represents an increase of $0.22 compared to the previous closing price.
Agios Pharmaceuticals, Inc. (NASDAQ: AGIO) currently has a market cap of 1.75B.
Agios Pharmaceuticals, Inc. (NASDAQ: AGIO) Average Daily Trading Volume
The stock’s average daily volume is 828,586 shares out of a total float 35,811,000 and some 150,668 shares traded hands yesterday, 116 percent below the average. lower than normal. Look for trading volume to pick up in the coming days as investors often use increases in trading volume to identify heavy volume accumulation or distribution by institutional investors.
While increased trading for one day will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these retain substantial teams of analysts researching thousands of stocks, so it is good validation to see them buying a stock you are researching.
Agios Pharmaceuticals, Inc. (NASDAQ: AGIO) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.
With that in mind, Agios Pharmaceuticals, Inc. (NASDAQ: AGIO) now has a 50-day MA of $51.03 and 200-day MA of $47.72. It has traded in a 52-week range between $33.50 – 67.74 and today’s last price is 38.34%% lower than the 52 week high of $67.74.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors identify companies that have increased their earnings by at least 25% for 3 consecutive years.
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