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

Palo Alto Investors LP purchased a new stake in shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 213,601 shares of the biopharmaceutical company’s stock, valued at approximately $7,926,733,000. Agios Pharmaceuticals accounts for about 1.1% of Palo Alto Investors LP’s portfolio, making the stock its 26th biggest position. Palo Alto Investors LP owned approximately 0.36% of Agios Pharmaceuticals as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Creative Planning grew its position in shares of Agios Pharmaceuticals by 2.2% during the third quarter. Creative Planning now owns 13,119 shares of the biopharmaceutical company’s stock worth $527,000 after purchasing an additional 280 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Agios Pharmaceuticals by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 132,083 shares of the biopharmaceutical company’s stock worth $4,393,000 after purchasing an additional 512 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in Agios Pharmaceuticals by 3.4% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 20,325 shares of the biopharmaceutical company’s stock worth $796,000 after purchasing an additional 662 shares in the last quarter. California State Teachers Retirement System lifted its holdings in Agios Pharmaceuticals by 1.4% in the 2nd quarter. California State Teachers Retirement System now owns 47,659 shares of the biopharmaceutical company’s stock worth $1,585,000 after purchasing an additional 671 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Agios Pharmaceuticals by 8.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 9,292 shares of the biopharmaceutical company’s stock worth $309,000 after purchasing an additional 734 shares during the period.

Wall Street Analyst Weigh In

AGIO has been the topic of several recent analyst reports. HC Wainwright lifted their price objective on shares of Agios Pharmaceuticals from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Royal Bank Of Canada upped their target price on shares of Agios Pharmaceuticals from $28.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 7th. Truist Financial cut their target price on shares of Agios Pharmaceuticals from $41.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, July 31st. TD Cowen upgraded shares of Agios Pharmaceuticals to a “strong-buy” rating in a report on Monday. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Agios Pharmaceuticals in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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 $1,665,579.60. This represents a 35.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 insiders.

Agios Pharmaceuticals Price Performance

Shares of NASDAQ AGIO 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 firm has a 50-day simple moving average of $35.91 and a two-hundred day simple moving average of $31.62. The company has a market cap of $2.05 billion, a P/E ratio of -4.89 and a beta of 0.58.

Agios Pharmaceuticals (NASDAQ:AGIO) last released its earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.69) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $44.75 million for the quarter, compared to the consensus estimate of $26.39 million. As a group, equities research analysts expect that Agios Pharmaceuticals, Inc. will post -5.82 EPS for the current year.

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.