Agios Pharmaceuticals, Inc. $AGIO Holdings Raised by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Agios Pharmaceuticals stake by 1,714.6% in the third quarter, acquiring 1.78 million additional shares. It now owns 1.89 million shares, or 3.16% of AGIO, valued at approximately $62.7 million.
• Analyst sentiment remains generally positive, with AGIO carrying a consensus “Moderate Buy” rating and an average price target of $41.50. Recent analysts raised targets and, in one case, upgraded the stock to “strong buy,” although one firm maintained a sell rating.
• AGIO opened at $31.32 and remains unprofitable, reporting a quarterly loss of $1.69 per share versus the $1.65 estimate. Revenue of $44.75 million exceeded expectations, but the company posted a negative 418.24% net margin.

Assenagon Asset Management S.A. grew its stake in shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO - Free Report) by 1,714.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,886,412 shares of the biopharmaceutical company's stock after buying an additional 1,782,457 shares during the period. Assenagon Asset Management S.A. owned 3.16% of Agios Pharmaceuticals worth $62,723,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Sei Investments Co. boosted its holdings in shares of Agios Pharmaceuticals by 342.8% in the 1st quarter. Sei Investments Co. now owns 63,550 shares of the biopharmaceutical company's stock valued at $2,150,000 after purchasing an additional 49,198 shares during the last quarter. SCS Capital Management LLC purchased a new position in shares of Agios Pharmaceuticals in the 2nd quarter worth about $22,743,000. Parkman Healthcare Partners LLC acquired a new position in shares of Agios Pharmaceuticals in the 2nd quarter valued at about $24,828,000. Seven Fleet Capital Management LP acquired a new position in shares of Agios Pharmaceuticals in the 4th quarter valued at about $864,000. Finally, Squarepoint Ops LLC increased its position in shares of Agios Pharmaceuticals by 53.7% in the second quarter. Squarepoint Ops LLC now owns 321,138 shares of the biopharmaceutical company's stock worth $11,917,000 after acquiring an additional 112,250 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AGIO shares. Royal Bank Of Canada lifted their price target 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. 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. JPMorgan Chase & Co. raised their target price on Agios Pharmaceuticals from $31.00 to $34.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. TD Cowen raised Agios Pharmaceuticals to a "strong-buy" rating in a research report on Monday, August 24th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Agios Pharmaceuticals in a research note on Monday, September 21st. One investment analyst has rated the stock with a Strong Buy rating, five have given 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, the company presently has an average rating of "Moderate Buy" and a consensus price target of $41.50.

Agios Pharmaceuticals Stock Performance

Shares of AGIO opened at $31.32 on Friday. Agios Pharmaceuticals, Inc. has a 1 year low of $22.24 and a 1 year high of $46.00. The company has a market cap of $1.87 billion, a price-to-earnings ratio of -4.47 and a beta of 0.63. The firm has a fifty day moving average of $33.08 and a 200-day moving average of $32.69.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.69) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.65) by ($0.04). The business 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%. Analysts predict that Agios Pharmaceuticals, Inc. will post -5.83 EPS for the current year.

Insider Buying and Selling at Agios Pharmaceuticals

In other news, insider Sarah Gheuens sold 30,000 shares of Agios Pharmaceuticals stock in a transaction that occurred on Tuesday, August 4th. The shares were 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 of the company's stock, valued at $1,665,579.60. The trade was a 35.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 5.40% of the company's stock.

About Agios Pharmaceuticals

Agios Pharmaceuticals, Inc is a biopharmaceutical company focused on discovering and developing medicines for rare diseases. Based in Cambridge, Massachusetts, the company specializes in cellular metabolism and the development of therapies designed to address underlying disease biology rather than only treating symptoms.

Agios' lead commercial product is Pyrukynd (mitapivat), an oral pyruvate kinase activator approved for the treatment of hemolytic anemia in adults with pyruvate kinase deficiency, a rare inherited blood disorder.

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