BlackRock Inc. Makes New Investment in Agios Pharmaceuticals, Inc. $AGIO

BlackRock Inc. bought a new stake in shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 6,455,997 shares of the biopharmaceutical company’s stock, valued at approximately $239,582,000. BlackRock Inc. owned 0.11% of Agios Pharmaceuticals as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. T. Rowe Price Investment Management Inc. bought a new position in Agios Pharmaceuticals during the 4th quarter worth $25,000. NewEdge Advisors LLC acquired a new stake in Agios Pharmaceuticals in the first quarter worth $40,000. Caitong International Asset Management Co. Ltd bought a new stake in Agios Pharmaceuticals in the fourth quarter valued at $49,000. Quantbot Technologies LP bought a new stake in Agios Pharmaceuticals in the third quarter valued at $79,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Agios Pharmaceuticals by 378.7% during the second quarter. Versant Capital Management Inc now owns 2,001 shares of the biopharmaceutical company’s stock valued at $74,000 after acquiring an additional 1,583 shares during the period.

Agios Pharmaceuticals Stock Performance

Shares of AGIO stock opened at $34.28 on Friday. Agios Pharmaceuticals, Inc. has a 1 year low of $22.24 and a 1 year high of $46.00. The business’s fifty day moving average is $35.91 and its 200-day moving average is $31.62. The stock has a market cap of $2.05 billion, a PE ratio of -4.89 and a beta of 0.58.

Agios Pharmaceuticals (NASDAQ:AGIO) last announced its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported ($1.69) earnings per share for the quarter, missing the consensus estimate of ($1.65) by ($0.04). Agios Pharmaceuticals had a negative net margin of 418.24% and a negative return on equity of 35.67%. The firm had revenue of $44.75 million during the quarter, compared to analyst estimates of $26.39 million. Equities research analysts predict that Agios Pharmaceuticals, Inc. will post -5.82 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AGIO shares. Citigroup increased their price objective on shares of Agios Pharmaceuticals from $46.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, July 31st. JPMorgan Chase & Co. upped their target price on shares of Agios Pharmaceuticals from $31.00 to $34.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. TD Cowen upgraded shares of Agios Pharmaceuticals to a “strong-buy” rating in a research note on Monday. Truist Financial cut their price target on Agios Pharmaceuticals from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Finally, HC Wainwright boosted their price objective on Agios Pharmaceuticals from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Agios Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $41.25.

Insider Transactions at Agios Pharmaceuticals

In other Agios Pharmaceuticals news, insider Sarah Gheuens sold 30,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $30.48, for a total value of $914,400.00. Following the transaction, the insider owned 54,645 shares of the company’s stock, valued at approximately $1,665,579.60. This represents a 35.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 5.40% of the company’s stock.

Agios Pharmaceuticals Company Profile

Agios Pharmaceuticals, Inc is a biopharmaceutical company founded in 2008 as a spin-out from research at Dana-Farber Cancer Institute and the Broad Institute. Headquartered in Cambridge, Massachusetts, Agios focuses on understanding and targeting cellular metabolism to develop novel therapies for cancer and rare genetic diseases. The company’s scientific platform integrates genomic discovery, metabolic profiling and precision medicine approaches to identify and advance small-molecule candidates that correct or exploit metabolic dysfunction.

Agios’s lead products are IDH (isocitrate dehydrogenase) inhibitors that target specific cancer mutations.