BlackRock Inc. Invests $239.58 Million in Agios Pharmaceuticals, Inc. $AGIO

Key Points

• BlackRock acquired 6.46 million shares of Agios Pharmaceuticals during the second quarter, investing approximately $239.6 million and taking an 10.81% stake.
• Agios reported quarterly revenue of $44.75 million, well above the $26.39 million consensus estimate, but its $1.69 loss per share narrowly missed expectations. The company remains unprofitable, with a negative net margin of 418.24%.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $41.25, although recent ratings range from “Strong Buy” to “Sell.”

BlackRock Inc. bought a new position in Agios Pharmaceuticals, Inc. (NASDAQ:AGIO - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,455,997 shares of the biopharmaceutical company's stock, valued at approximately $239,582,000. BlackRock Inc. owned 10.81% of Agios Pharmaceuticals at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Creative Planning grew its position in Agios Pharmaceuticals by 2.2% during the third quarter. Creative Planning now owns 13,119 shares of the biopharmaceutical company's stock valued at $527,000 after acquiring an additional 280 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of 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 valued at $4,393,000 after purchasing an additional 512 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Agios Pharmaceuticals by 3.4% in the 3rd 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 in the last quarter. California State Teachers Retirement System grew its holdings in shares of Agios Pharmaceuticals by 1.4% during the 2nd quarter. California State Teachers Retirement System now owns 47,659 shares of the biopharmaceutical company's stock worth $1,585,000 after purchasing an additional 671 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in shares of Agios Pharmaceuticals by 8.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 9,292 shares of the biopharmaceutical company's stock worth $309,000 after purchasing an additional 734 shares during the period.

Agios Pharmaceuticals Stock Up 0.9%

Shares of NASDAQ AGIO opened at $34.28 on Friday. Agios Pharmaceuticals, Inc. has a fifty-two week low of $22.24 and a fifty-two week high of $46.00. The business has a 50 day moving average price of $35.91 and a two-hundred day moving average price of $31.62. The firm has a market cap of $2.05 billion, a PE ratio of -4.89 and a beta of 0.58.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last issued 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 company had revenue of $44.75 million during the quarter, compared to the consensus estimate of $26.39 million. Agios Pharmaceuticals had a negative return on equity of 35.67% and a negative net margin of 418.24%. On average, analysts anticipate that Agios Pharmaceuticals, Inc. will post -5.82 earnings per share for the current year.

Insider Buying and Selling

In other Agios Pharmaceuticals news, insider Sarah Gheuens sold 30,000 shares of the company's 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 sale, the insider owned 54,645 shares in the company, valued at $1,665,579.60. This represents a 35.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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.

Analyst Upgrades and Downgrades

Several research firms recently commented on AGIO. HC Wainwright raised their price target on shares of Agios Pharmaceuticals from $52.00 to $55.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Weiss Ratings reissued a "sell (d)" rating on shares of Agios Pharmaceuticals in a research report on Wednesday, June 24th. Royal Bank Of Canada raised their target price 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 report on Monday. Finally, JPMorgan Chase & Co. upped their price target on shares of Agios Pharmaceuticals from $31.00 to $34.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $41.25.

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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