Agios Pharmaceuticals, Inc. $AGIO Shares Newly Acquired by Bank of America Corp DE

Key Points

• Bank of America acquired 507,869 Agios Pharmaceuticals shares during the second quarter, worth approximately $18.85 million and representing about 0.85% of the company.
• Analyst sentiment is broadly positive, with a “Moderate Buy” consensus and an average price target of $41.75, compared with the stock’s $32.90 opening price.
• Agios reported a quarterly loss of $1.69 per share, missing estimates by $0.04, although revenue of $44.75 million exceeded expectations; the stock remains unprofitable with a projected full-year loss of $5.82 per share.

Bank of America Corp DE acquired a new position in shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 507,869 shares of the biopharmaceutical company's stock, valued at approximately $18,847,000. Bank of America Corp DE owned about 0.85% of Agios Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new stake in shares of Agios Pharmaceuticals in the second quarter worth $43,000. Allworth Financial LP bought a new position in Agios Pharmaceuticals during the second quarter worth $73,000. Versant Capital Management Inc raised its stake in Agios Pharmaceuticals by 378.7% during the 2nd quarter. Versant Capital Management Inc now owns 2,001 shares of the biopharmaceutical company's stock valued at $74,000 after purchasing an additional 1,583 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in Agios Pharmaceuticals during the 4th quarter valued at $72,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Agios Pharmaceuticals in the 4th quarter valued at $183,000.

Insider Transactions at Agios Pharmaceuticals

In other news, insider Sarah Gheuens sold 30,000 shares of the company's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $30.48, for a total value of $914,400.00. Following the sale, the insider owned 54,645 shares of the company's stock, valued at approximately $1,665,579.60. This represents a 35.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. HC Wainwright raised their price target on shares of Agios Pharmaceuticals from $52.00 to $55.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. upped their price objective on shares of Agios Pharmaceuticals from $31.00 to $34.00 and gave the company a "neutral" rating in a research report on Friday, August 7th. Weiss Ratings reiterated a "sell (d)" rating on shares of Agios Pharmaceuticals in a research note on Monday. Truist Financial decreased their target price on Agios Pharmaceuticals from $41.00 to $39.00 and set a "buy" rating on the stock in a research report on Friday, July 31st. Finally, TD Cowen upgraded Agios Pharmaceuticals to a "strong-buy" rating in a research note on Monday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $41.75.

Agios Pharmaceuticals Stock Down 3.8%

NASDAQ:AGIO opened at $32.90 on Friday. Agios Pharmaceuticals, Inc. has a 12-month low of $22.24 and a 12-month high of $46.00. The firm has a market capitalization of $1.96 billion, a PE ratio of -4.69 and a beta of 0.60. The firm has a 50-day moving average price of $33.95 and a 200 day moving average price of $32.33.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $44.75 million for the quarter, compared to analyst estimates of $26.39 million. Agios Pharmaceuticals had a negative net margin of 418.24% and a negative return on equity of 35.67%. On average, research analysts expect that Agios Pharmaceuticals, Inc. will post -5.82 EPS for the current year.

Agios Pharmaceuticals Company Profile

Agios Pharmaceuticals, Inc is a biopharmaceutical company focused on discovering and developing medicines for rare diseases, with an emphasis on disorders involving cellular metabolism. The company's research has centered on small-molecule therapies designed to address underlying biological mechanisms rather than only treating symptoms.

Agios' principal commercial product is Pyrukynd (mitapivat), an oral activator of pyruvate kinase approved in the United States and other markets for the treatment of hemolytic anemia associated with pyruvate kinase deficiency in adults.

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