The Manufacturers Life Insurance Company Takes Position in Agios Pharmaceuticals, Inc. $AGIO

The Manufacturers Life Insurance Company purchased a new stake in Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) in the second quarter, Holdings Channel reports. The firm purchased 37,727 shares of the biopharmaceutical company’s stock, valued at approximately $1,400,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Agios Pharmaceuticals during the 2nd quarter worth $239,582,000. Wellington Management Group LLP lifted its holdings in shares of 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 during the period. MPM Bioimpact LLC purchased a new stake in shares of Agios Pharmaceuticals in the 4th quarter worth $35,478,000. State Street Corp grew its position in shares of 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 in the last quarter. Finally, TCG Crossover Management LLC raised its holdings in shares of Agios Pharmaceuticals by 105.2% in the third quarter. TCG Crossover Management LLC now owns 1,430,041 shares of the biopharmaceutical company’s stock valued at $57,402,000 after acquiring an additional 733,038 shares in the last quarter.

Agios Pharmaceuticals Stock Performance

Shares of Agios Pharmaceuticals stock opened at $33.10 on Friday. The company has a market capitalization of $1.98 billion, a PE ratio of -4.72 and a beta of 0.60. The company has a 50-day simple moving average of $35.64 and a two-hundred day simple moving average of $31.84. Agios Pharmaceuticals, Inc. has a one year low of $22.24 and a one year 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 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 firm had revenue of $44.75 million during the quarter, compared to the consensus estimate of $26.39 million. On average, equities analysts predict that Agios Pharmaceuticals, Inc. will post -5.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AGIO shares. Bank of America upped their price objective on shares of Agios Pharmaceuticals from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. TD Cowen raised shares of Agios Pharmaceuticals to a “strong-buy” rating in a report on Monday, August 24th. 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 report on Thursday, July 30th. Royal Bank Of Canada boosted their price objective on shares of Agios Pharmaceuticals from $28.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Agios Pharmaceuticals in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $41.25.

Insider Buying and Selling

In related news, insider Sarah Gheuens sold 30,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $30.48, for a total transaction of $914,400.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.40% of the stock is owned by insiders.

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.