State Street Corp lifted its holdings in shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) by 8.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,302,966 shares of the biopharmaceutical company’s stock after buying an additional 97,220 shares during the period. State Street Corp owned approximately 2.69% of Agios Pharmaceuticals worth $67,036,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. QS Investors LLC bought a new position in shares of Agios Pharmaceuticals in the second quarter valued at $144,000. Russell Investments Group Ltd. raised its stake in Agios Pharmaceuticals by 163.9% during the 1st quarter. Russell Investments Group Ltd. now owns 2,549 shares of the biopharmaceutical company’s stock valued at $149,000 after purchasing an additional 1,583 shares during the period. Aperio Group LLC acquired a new stake in Agios Pharmaceuticals during the 2nd quarter valued at $206,000. Parametrica Management Ltd acquired a new stake in Agios Pharmaceuticals during the 2nd quarter valued at $228,000. Finally, Janney Montgomery Scott LLC raised its stake in Agios Pharmaceuticals by 9.7% during the 2nd quarter. Janney Montgomery Scott LLC now owns 4,820 shares of the biopharmaceutical company’s stock valued at $248,000 after purchasing an additional 425 shares during the period. Institutional investors and hedge funds own 93.46% of the company’s stock.
AGIO has been the topic of several research analyst reports. SunTrust Banks, Inc. restated a “buy” rating and set a $80.00 price target on shares of Agios Pharmaceuticals in a report on Wednesday, October 4th. J P Morgan Chase & Co restated a “buy” rating and set a $76.00 price target on shares of Agios Pharmaceuticals in a report on Monday, September 18th. Canaccord Genuity set a $90.00 price target on shares of Agios Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, August 8th. BidaskClub upgraded shares of Agios Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Finally, Needham & Company LLC boosted their price target on shares of Agios Pharmaceuticals from $54.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, August 10th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $75.20.
In other Agios Pharmaceuticals news, insider Scott Biller sold 23,146 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $59.60, for a total transaction of $1,379,501.60. Following the sale, the insider now directly owns 8,410 shares of the company’s stock, valued at approximately $501,236. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lewis Clayton Jr. Cantley sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $71.10, for a total transaction of $284,400.00. Following the sale, the director now directly owns 84,394 shares in the company, valued at $6,000,413.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 220,908 shares of company stock valued at $14,628,238. 10.55% of the stock is owned by corporate insiders.
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Shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) opened at 65.92 on Tuesday. The company’s market capitalization is $3.19 billion. The stock’s 50 day moving average is $67.74 and its 200 day moving average is $57.71. Agios Pharmaceuticals, Inc. has a 1-year low of $39.24 and a 1-year high of $72.73.
Agios Pharmaceuticals (NASDAQ:AGIO) last released its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($1.78) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.57) by ($0.21). The company had revenue of $11.30 million for the quarter, compared to analyst estimates of $10.68 million. Agios Pharmaceuticals had a negative return on equity of 68.15% and a negative net margin of 502.12%. Agios Pharmaceuticals’s revenue for the quarter was up 62.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.47) earnings per share. On average, equities research analysts anticipate that Agios Pharmaceuticals, Inc. will post ($7.08) EPS for the current fiscal year.
About Agios Pharmaceuticals
Agios Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company’s therapeutic areas of focus are cancer and rare genetic metabolic disorders, which are a group of over 600 rare genetic diseases caused by mutations, or defects, of single metabolic genes. The Company’s cancer product candidates are enasidenib and ivosidenib (AG-120), which target mutated isocitrate dehydrogenase 2 (IDH2) and isocitrate dehydrogenase 1 (IDH1), respectively, and AG-881, which targets both mutated IDH1 and mutated IDH2.
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