Bank of New York Mellon Corp Invests $7.37 Million in Agios Pharmaceuticals, Inc. $AGIO

Key Points

• Bank of New York Mellon invested approximately $7.37 million in Agios Pharmaceuticals during the second quarter, acquiring 198,685 shares and a 0.33% stake.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $41.25, although ratings range from “Strong Buy” to “Sell.”
• Agios shares opened at $33.13 after declining 2.9%; the company recently reported a quarterly loss of $1.69 per share, missing estimates, despite revenue exceeding forecasts.

Bank of New York Mellon Corp purchased a new position in Agios Pharmaceuticals, Inc. (NASDAQ:AGIO - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 198,685 shares of the biopharmaceutical company's stock, valued at approximately $7,373,000. Bank of New York Mellon Corp owned 0.33% of Agios Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. T. Rowe Price Investment Management Inc. acquired a new stake in Agios Pharmaceuticals in the fourth quarter valued at about $25,000. NewEdge Advisors LLC bought a new position in Agios Pharmaceuticals in the first quarter valued at about $40,000. Caitong International Asset Management Co. Ltd bought a new position in Agios Pharmaceuticals in the fourth quarter valued at about $49,000. Eurizon Capital SGR S.p.A. acquired a new position in Agios Pharmaceuticals during the fourth quarter worth about $72,000. Finally, Versant Capital Management Inc raised its stake in Agios Pharmaceuticals by 378.7% during the second quarter. Versant Capital Management Inc now owns 2,001 shares of the biopharmaceutical company's stock worth $74,000 after acquiring an additional 1,583 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings restated a "sell (d)" rating on shares of Agios Pharmaceuticals in a research note on Wednesday, June 24th. Truist Financial lowered their price objective on shares of Agios Pharmaceuticals from $41.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, July 31st. Royal Bank Of Canada increased their price objective on shares of Agios Pharmaceuticals from $28.00 to $32.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 7th. TD Cowen upgraded shares of Agios Pharmaceuticals to a "strong-buy" rating in a research report on Monday, August 24th. Finally, HC Wainwright boosted their target price on shares of Agios Pharmaceuticals from $52.00 to $55.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Agios Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus target price of $41.25.

Agios Pharmaceuticals Stock Down 2.9%

NASDAQ:AGIO opened at $33.13 on Friday. Agios Pharmaceuticals, Inc. has a twelve month low of $22.24 and a twelve month high of $46.00. The company has a fifty day moving average of $35.73 and a 200-day moving average of $31.83. The firm has a market capitalization of $1.98 billion, a P/E ratio of -4.73 and a beta of 0.60.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported ($1.69) EPS for the quarter, missing analysts' consensus estimates of ($1.65) by ($0.04). Agios Pharmaceuticals had a negative net margin of 418.24% and a negative return on equity of 35.67%. The firm had revenue of $44.75 million during the quarter, compared to analyst estimates of $26.39 million. On average, analysts anticipate that Agios Pharmaceuticals, Inc. will post -5.82 EPS for the current fiscal year.

Insider Activity at Agios Pharmaceuticals

In related news, insider Sarah Gheuens sold 30,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $30.48, for a total transaction of $914,400.00. Following the completion of the sale, the insider directly owned 54,645 shares of the company's stock, valued at approximately $1,665,579.60. This trade represents a 35.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 5.40% of the company's stock.

Agios Pharmaceuticals Profile

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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