BlackRock Inc. Acquires 508,306 Shares of Agios Pharmaceuticals, Inc. (AGIO)

BlackRock Inc. raised its holdings in shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) by 23.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,675,380 shares of the biopharmaceutical company’s stock after purchasing an additional 508,306 shares during the quarter. BlackRock Inc. owned approximately 5.55% of Agios Pharmaceuticals worth $137,648,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Agios Pharmaceuticals by 5.2% during the first quarter. Vanguard Group Inc. now owns 2,597,391 shares of the biopharmaceutical company’s stock valued at $151,688,000 after purchasing an additional 129,159 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Agios Pharmaceuticals by 52.3% in the second quarter. First Trust Advisors LP now owns 973,870 shares of the biopharmaceutical company’s stock worth $50,106,000 after buying an additional 334,291 shares in the last quarter. Redmile Group LLC lifted its holdings in shares of Agios Pharmaceuticals by 22.2% in the first quarter. Redmile Group LLC now owns 902,578 shares of the biopharmaceutical company’s stock worth $52,711,000 after buying an additional 164,127 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Agios Pharmaceuticals by 748.0% in the first quarter. Goldman Sachs Group Inc. now owns 649,124 shares of the biopharmaceutical company’s stock worth $37,909,000 after buying an additional 572,579 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Agios Pharmaceuticals by 8.3% in the first quarter. Geode Capital Management LLC now owns 263,899 shares of the biopharmaceutical company’s stock worth $15,410,000 after buying an additional 20,336 shares in the last quarter. 93.97% of the stock is currently owned by institutional investors and hedge funds.

Shares of Agios Pharmaceuticals, Inc. (NASDAQ AGIO) opened at 71.35 on Monday. The company has a 50-day moving average of $66.25 and a 200-day moving average of $56.71. The stock’s market capitalization is $3.45 billion. Agios Pharmaceuticals, Inc. has a 52 week low of $39.24 and a 52 week high of $72.73.

Agios Pharmaceuticals (NASDAQ:AGIO) last posted its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.78) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.57) by ($0.21). Agios Pharmaceuticals had a negative return on equity of 68.15% and a negative net margin of 502.12%. The business had revenue of $11.30 million during the quarter, compared to analysts’ expectations of $10.68 million. During the same period in the prior year, the firm posted ($1.47) earnings per share. The firm’s revenue for the quarter was up 62.1% on a year-over-year basis. On average, analysts anticipate that Agios Pharmaceuticals, Inc. will post ($7.08) EPS for the current year.

In related news, insider Scott Biller sold 10,470 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $70.00, for a total value of $732,900.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David P. Schenkein sold 80,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $70.14, for a total value of $5,611,200.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 228,408 shares of company stock worth $14,976,478. 10.55% of the stock is owned by insiders.

A number of equities research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Agios Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $80.00 price target (up from $68.00) on shares of Agios Pharmaceuticals in a report on Tuesday, August 8th. Needham & Company LLC increased their price target on shares of Agios Pharmaceuticals from $54.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, August 10th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $83.00 price target (up from $75.00) on shares of Agios Pharmaceuticals in a report on Thursday, August 10th. Finally, Leerink Swann raised shares of Agios Pharmaceuticals from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $50.00 to $80.00 in a report on Wednesday, August 2nd. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $75.20.

TRADEMARK VIOLATION NOTICE: “BlackRock Inc. Acquires 508,306 Shares of Agios Pharmaceuticals, Inc. (AGIO)” was first reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece of content on another publication, it was illegally copied and reposted in violation of US & international copyright and trademark law. The legal version of this piece of content can be viewed at https://www.dispatchtribunal.com/2017/10/16/blackrock-inc-acquires-508306-shares-of-agios-pharmaceuticals-inc-agio.html.

Agios Pharmaceuticals Profile

Agios Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company’s therapeutic areas of focus are cancer and rare genetic metabolic disorders, which are a group of over 600 rare genetic diseases caused by mutations, or defects, of single metabolic genes. The Company’s cancer product candidates are enasidenib and ivosidenib (AG-120), which target mutated isocitrate dehydrogenase 2 (IDH2) and isocitrate dehydrogenase 1 (IDH1), respectively, and AG-881, which targets both mutated IDH1 and mutated IDH2.

Institutional Ownership by Quarter for Agios Pharmaceuticals (NASDAQ:AGIO)

Receive News & Ratings for Agios Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Agios Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply