Bank of America Corp DE Increases Stock Holdings in Agios Pharmaceuticals, Inc. (NASDAQ:AGIO)

Bank of America Corp DE raised its holdings in shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO - Free Report) by 21.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 404,902 shares of the biopharmaceutical company's stock after acquiring an additional 71,827 shares during the quarter. Bank of America Corp DE owned approximately 0.71% of Agios Pharmaceuticals worth $13,305,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its position in Agios Pharmaceuticals by 3.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 24,805 shares of the biopharmaceutical company's stock worth $815,000 after acquiring an additional 795 shares during the period. Venturi Wealth Management LLC purchased a new stake in Agios Pharmaceuticals in the 4th quarter valued at about $33,000. Vanguard Group Inc. increased its holdings in shares of Agios Pharmaceuticals by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 5,631,321 shares of the biopharmaceutical company's stock worth $185,045,000 after buying an additional 85,339 shares during the last quarter. Northern Trust Corp lifted its position in Agios Pharmaceuticals by 0.9% during the fourth quarter. Northern Trust Corp now owns 595,480 shares of the biopharmaceutical company's stock valued at $19,567,000 after buying an additional 5,372 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Agios Pharmaceuticals by 48.8% in the 4th quarter. Bank of New York Mellon Corp now owns 265,514 shares of the biopharmaceutical company's stock valued at $8,725,000 after purchasing an additional 87,089 shares in the last quarter.

Agios Pharmaceuticals Trading Up 0.7%

Shares of Agios Pharmaceuticals stock traded up $0.21 during trading hours on Friday, reaching $29.80. 440,665 shares of the company's stock were exchanged, compared to its average volume of 695,398. The company has a 50 day moving average of $28.66 and a two-hundred day moving average of $36.16. The stock has a market cap of $1.73 billion, a P/E ratio of 2.63 and a beta of 0.77. Agios Pharmaceuticals, Inc. has a fifty-two week low of $23.42 and a fifty-two week high of $62.58.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The biopharmaceutical company reported ($1.55) earnings per share for the quarter, topping the consensus estimate of ($1.80) by $0.25. Agios Pharmaceuticals had a net margin of 1,845.92% and a negative return on equity of 2.51%. The business had revenue of $8.73 million during the quarter, compared to analysts' expectations of $9.86 million. As a group, analysts expect that Agios Pharmaceuticals, Inc. will post -6.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AGIO. Scotiabank lowered their price objective on Agios Pharmaceuticals from $74.00 to $71.00 and set a "sector outperform" rating for the company in a research note on Friday, May 2nd. Wall Street Zen cut Agios Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Monday, May 19th. Finally, HC Wainwright initiated coverage on shares of Agios Pharmaceuticals in a report on Monday, February 24th. They issued a "buy" rating and a $58.00 price objective for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $56.00.

Insider Transactions at Agios Pharmaceuticals

In other Agios Pharmaceuticals news, Director Jacqualyn A. Fouse sold 7,497 shares of the stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $25.90, for a total transaction of $194,172.30. Following the completion of the transaction, the director now owns 149,220 shares in the company, valued at $3,864,798. This trade represents a 4.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 4.30% of the company's stock.

Agios Pharmaceuticals Profile

Agios Pharmaceuticals, Inc, a biopharmaceutical company, discovers and develops medicines in the field of cellular metabolism in the United States. Its lead product includes PYRUKYND (mitapivat), an activator of wild-type and mutant pyruvate kinase (PK), enzymes for the treatment of hemolytic anemias.