Time to give Agios Pharmaceuticals Inc. (NASDAQ:AGIO) a wide berth?


Shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) are currently poised at -3.70% from the open today and are hovering around at $54.70. More than 1,121,808 shares have traded hands versus an average trading volume of 593.71K. At the current PPS, the market capiralization stands at $2.61B. The stock prices of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) are currently trading at -19.25% below its 52 week high and 52.62% above its 52 week low.

Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) has been in the buzz for the right reasons. Recently, Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) announced new efficacy and safety data from the ongoing Phase 1/2 dose-escalation and expansion study evaluating investigational oral IDHIFA (enasidenib) in patients with relapsed or refractory acute myeloid leukemia (R/R AML) and an isocitrate dehydrogenase-2 (IDH2) mutation. IDHIFA, being developed in collaboration with Celgene Corporation, is an investigational first-in-class, oral, targeted inhibitor of the mutant IDH2 enzyme. Data in an oral session at the 22nd Congress of the European Hematology Association (EHA) demonstrated an overall response rate (ORR) of 37 percent, including a complete response (CR) rate of 20.1 percent in 214 patients with R/R AML who received enasidenib at 100 mg daily, which was the recommended starting dose in the expansion phases of the trial.

Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) is all set to post its earnings on Aug 03/b. As per Zack’s analyst ratings, Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) has an average brokerage rating of . On a scale of 1-5, a rating of 1 or 2 would show a buy, and a score of 4 or 5 would indicate a sell call. A rating of 3 would suggest a hold on the stock.

Let’s take a look at the technical analysis.

The Barchart Technical Opinion rating is a 64% Buy with a Weakest short term outlook on maintaining the current direction. Longer term, the trend strength is Weak. Long term indicators mostly agree with the trend. The market is approaching overbought territory. Be watchful of a trend reversal.

The Exponential Moving Average is similar to a simple moving average however it utilizes a weighting cog that exponentially drops from the recent data point. The study of EMA compares the short term, intermediate term and long term EMAs. The respective EMAs tend to give bullish signals when hovering above trailing EMAs and below the latest price and vice versa. EMA alerts constitute crossovers i.e. the 5-day EMA crosses below/above the 20 day EMA and EMA convergences 5-day EMA comparable to 13 day EMA. Currently, the 5 day EMA 55.72 is higher than the last trade price suggesting a short term bearish pattern building up. Long term, the 50 day EMA 51.33 is lower than current trading price depicting a bullish signal.

The relative strength index (RSI) can be defined as a momentum oscillator that can compute measure the velocity and extent of stock price changes. Momentum is computed as the ratio of positive price variations to negative price changes. The RSI study compares the current Relative Strength Index against oversold (30), overbought (70) and neutral (50) conditions. Alerts will apprise you when shares recede from oversold/overbought marks or breakthrough neutral (50). The current RSI is 57.73 suggesting a bullish price action.

Though Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) represents an exciting growth story open to numerous attractive markets, it would be remarkable to see how it does for long-term investors.