Palo Alto Investors LP Makes New $7.93 Million Investment in Agios Pharmaceuticals, Inc. $AGIO

Palo Alto Investors LP acquired a new stake in Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 213,601 shares of the biopharmaceutical company’s stock, valued at approximately $7,926,733. Agios Pharmaceuticals comprises about 0.0% of Palo Alto Investors LP’s investment portfolio, making the stock its 26th largest holding. Palo Alto Investors LP owned about 0.36% of Agios Pharmaceuticals at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. T. Rowe Price Investment Management Inc. purchased a new position in Agios Pharmaceuticals in the fourth quarter worth about $25,000. Quantbot Technologies LP acquired a new stake in shares of Agios Pharmaceuticals in the second quarter valued at $43,000. NewEdge Advisors LLC acquired a new stake in Agios Pharmaceuticals in the first quarter valued at about $40,000. Caitong International Asset Management Co. Ltd purchased a new position in Agios Pharmaceuticals during the fourth quarter worth about $49,000. Finally, Allworth Financial LP bought a new stake in shares of Agios Pharmaceuticals in the 2nd quarter worth about $73,000.

Analysts Set New Price Targets

AGIO has been the topic of a number of analyst reports. Bank of America upped their price target on Agios Pharmaceuticals from $40.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Agios Pharmaceuticals in a report on Wednesday, June 24th. Truist Financial reduced their target price on Agios Pharmaceuticals from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, July 31st. TD Cowen raised shares of Agios Pharmaceuticals to a “strong-buy” rating in a research note on Monday. Finally, HC Wainwright boosted their price target on Agios Pharmaceuticals from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.25.

Agios Pharmaceuticals Trading Down 2.8%

Shares of NASDAQ:AGIO traded down $0.96 during mid-day trading on Friday, hitting $33.32. 519,740 shares of the company traded hands, compared to its average volume of 1,053,197. The stock has a 50-day moving average price of $35.91 and a two-hundred day moving average price of $31.62. The stock has a market cap of $1.99 billion, a P/E ratio of -4.75 and a beta of 0.58. Agios Pharmaceuticals, Inc. has a 12-month low of $22.24 and a 12-month high of $46.00.

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

Insider Buying and Selling at Agios Pharmaceuticals

In other news, insider Sarah Gheuens sold 30,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider directly owned 54,645 shares in the company, valued at approximately $1,665,579.60. The trade was a 35.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.40% of the stock is currently owned by company insiders.

Agios Pharmaceuticals 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.