47,414 Shares in Agios Pharmaceuticals, Inc. $AGIO Acquired by State of New Jersey Common Pension Fund D

Key Points

• State of New Jersey Common Pension Fund D initiated a new position in Agios Pharmaceuticals, buying 47,414 shares valued at about $1.29 million in the fourth quarter.
• Agios reported better-than-expected quarterly results, with EPS of -$1.69 versus -$1.81 expected and revenue of $20.75 million, up 137.7% year over year.
• Wall Street’s view is mixed: the stock carries an overall “Hold” rating with an average target price of $41.56, while recent insider sales and institutional buying show ongoing investor activity.

State of New Jersey Common Pension Fund D bought a new position in Agios Pharmaceuticals, Inc. (NASDAQ:AGIO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 47,414 shares of the biopharmaceutical company's stock, valued at approximately $1,291,000. State of New Jersey Common Pension Fund D owned approximately 0.08% of Agios Pharmaceuticals at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Creative Planning increased its position in shares of Agios Pharmaceuticals by 2.2% in the third quarter. Creative Planning now owns 13,119 shares of the biopharmaceutical company's stock worth $527,000 after acquiring an additional 280 shares in the last quarter. Assetmark Inc. raised its position in Agios Pharmaceuticals by 37.9% during the fourth quarter. Assetmark Inc. now owns 1,317 shares of the biopharmaceutical company's stock valued at $36,000 after acquiring an additional 362 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Agios Pharmaceuticals by 26.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,834 shares of the biopharmaceutical company's stock valued at $77,000 after purchasing an additional 588 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its holdings in Agios Pharmaceuticals by 3.4% during the third quarter. CANADA LIFE ASSURANCE Co now owns 20,325 shares of the biopharmaceutical company's stock valued at $796,000 after purchasing an additional 662 shares during the last quarter.

Agios Pharmaceuticals Stock Performance

Shares of AGIO stock opened at $27.79 on Monday. The firm's 50 day moving average price is $29.70 and its two-hundred day moving average price is $30.59. The stock has a market cap of $1.65 billion, a PE ratio of -3.83 and a beta of 0.58. Agios Pharmaceuticals, Inc. has a 52-week low of $22.24 and a 52-week high of $46.00.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The biopharmaceutical company reported ($1.69) EPS for the quarter, beating analysts' consensus estimates of ($1.81) by $0.12. Agios Pharmaceuticals had a negative return on equity of 34.11% and a negative net margin of 639.84%.The business had revenue of $20.75 million during the quarter, compared to the consensus estimate of $13.30 million. The company's quarterly revenue was up 137.7% compared to the same quarter last year. As a group, sell-side analysts predict that Agios Pharmaceuticals, Inc. will post -6.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AGIO has been the subject of several research reports. Citigroup increased their price objective on Agios Pharmaceuticals from $38.00 to $46.00 and gave the company a "buy" rating in a research report on Thursday, March 5th. The Goldman Sachs Group upped their target price on Agios Pharmaceuticals from $28.00 to $32.00 and gave the company a "neutral" rating in a research note on Wednesday, April 1st. Wall Street Zen upgraded Agios Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Sunday, March 22nd. HC Wainwright lowered their price target on Agios Pharmaceuticals from $65.00 to $50.00 and set a "buy" rating on the stock in a research report on Monday, April 20th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Agios Pharmaceuticals in a report on Friday, March 27th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $41.56.

Insider Transactions at Agios Pharmaceuticals

In other news, insider Tsveta Milanova sold 3,262 shares of the business's stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $34.71, for a total value of $113,224.02. Following the sale, the insider directly owned 46,829 shares in the company, valued at $1,625,434.59. The trade was a 6.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider James William Burns sold 3,280 shares of the business's stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $34.71, for a total value of $113,848.80. Following the completion of the sale, the insider owned 49,306 shares in the company, valued at approximately $1,711,411.26. This trade represents a 6.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 15,582 shares of company stock valued at $520,405. Insiders own 5.40% of the company's stock.

About Agios Pharmaceuticals

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.

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