Canada Pension Plan Investment Board Acquires Shares of 16,500 Agios Pharmaceuticals, Inc. $AGIO

Canada Pension Plan Investment Board acquired a new stake in shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 16,500 shares of the biopharmaceutical company’s stock, valued at approximately $612,000.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Agios Pharmaceuticals during the second quarter worth $239,582,000. Bellevue Group AG grew its holdings in Agios Pharmaceuticals by 3.5% during the 3rd quarter. Bellevue Group AG now owns 3,714,736 shares of the biopharmaceutical company’s stock valued at $149,110,000 after purchasing an additional 124,586 shares in the last quarter. State Street Corp increased its stake in Agios Pharmaceuticals by 37.4% during the 4th quarter. State Street Corp now owns 3,108,145 shares of the biopharmaceutical company’s stock worth $84,604,000 after buying an additional 845,433 shares during the period. Erste Asset Management GmbH increased its stake in Agios Pharmaceuticals by 1.4% during the 4th quarter. Erste Asset Management GmbH now owns 2,804,900 shares of the biopharmaceutical company’s stock worth $76,343,000 after buying an additional 40,000 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Agios Pharmaceuticals by 485.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,471,416 shares of the biopharmaceutical company’s stock worth $99,203,000 after buying an additional 2,049,287 shares in the last quarter.

Insider Activity

In other news, insider Sarah Gheuens sold 30,000 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $30.48, for a total transaction 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 trade represents a 35.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Citigroup upped their price objective on shares of Agios Pharmaceuticals from $46.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Agios Pharmaceuticals in a research report on Wednesday, June 24th. Royal Bank Of Canada boosted their price target on Agios Pharmaceuticals from $28.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. increased their price target on Agios Pharmaceuticals from $31.00 to $34.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Finally, HC Wainwright lifted their price objective on Agios Pharmaceuticals from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. One research 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 company’s stock. According to data from MarketBeat.com, Agios Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $41.25.

Agios Pharmaceuticals Price Performance

AGIO opened at $34.21 on Wednesday. Agios Pharmaceuticals, Inc. has a 12-month low of $22.24 and a 12-month high of $46.00. The stock has a market capitalization of $2.04 billion, a PE ratio of -4.88 and a beta of 0.60. The firm’s fifty day moving average price is $35.84 and its 200 day moving average price is $31.75.

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). The company had revenue of $44.75 million for the quarter, compared to analyst estimates of $26.39 million. Agios Pharmaceuticals had a negative return on equity of 35.67% and a negative net margin of 418.24%. On average, equities research analysts forecast that Agios Pharmaceuticals, Inc. will post -5.82 earnings per share for the current fiscal 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.