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) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 213,601 shares of the biopharmaceutical company’s stock, valued at approximately $7,926,733,000. Agios Pharmaceuticals makes up about 1.1% of Palo Alto Investors LP’s portfolio, making the stock its 26th largest position.

A number of other large investors have also recently modified their holdings of AGIO. T. Rowe Price Investment Management Inc. bought a new stake in Agios Pharmaceuticals during the 4th quarter valued at $25,000. NewEdge Advisors LLC purchased a new stake in shares of Agios Pharmaceuticals in the 1st quarter worth $40,000. Quantbot Technologies LP bought a new position in shares of Agios Pharmaceuticals during the 2nd quarter worth $43,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Agios Pharmaceuticals during the 4th quarter worth $49,000. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of Agios Pharmaceuticals during the fourth quarter valued at $72,000.

Insider Transactions at Agios Pharmaceuticals

In other Agios Pharmaceuticals news, insider Sarah Gheuens sold 30,000 shares of Agios Pharmaceuticals stock in a transaction dated 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 in the company, valued at $1,665,579.60. The trade was a 35.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AGIO has been the subject of several recent research reports. Royal Bank Of Canada lifted their price objective on Agios Pharmaceuticals from $28.00 to $32.00 and gave the company a “sector perform” rating in a report on Tuesday, July 7th. Truist Financial dropped their target price on shares of Agios Pharmaceuticals from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Weiss Ratings reissued a “sell (d)” rating on shares of Agios Pharmaceuticals in a research report on Wednesday, June 24th. Bank of America boosted their price target on shares of Agios Pharmaceuticals from $40.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. upped their price target 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. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Agios Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.25.

Agios Pharmaceuticals Trading Up 0.9%

Shares of NASDAQ:AGIO opened at $34.28 on Friday. Agios Pharmaceuticals, Inc. has a 12-month low of $22.24 and a 12-month high of $46.00. The business’s fifty day simple moving average is $35.91 and its 200-day simple moving average is $31.62. The company has a market capitalization of $2.05 billion, a PE ratio of -4.89 and a beta of 0.58.

Agios Pharmaceuticals (NASDAQ:AGIO) last released its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.69) EPS for the quarter, missing the consensus estimate of ($1.65) by ($0.04). The company had revenue of $44.75 million during the quarter, compared to the consensus estimate of $26.39 million. Agios Pharmaceuticals had a negative return on equity of 35.67% and a negative net margin of 418.24%. Research analysts predict 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.