Commerce Bank Takes Position in Agios Pharmaceuticals, Inc. (NASDAQ:AGIO)

Key Points

• Commerce Bank has established a new position in Agios Pharmaceuticals, acquiring 8,199 shares valued at approximately $240,000 during the first quarter.
• Insiders, including CFO Cecilia Jones and Tsveta Milanova, have sold significant shares, with insiders having sold a total of 46,363 shares valued at around $1.62 million last quarter.
• Analysts have mixed sentiments on Agios Pharmaceuticals, with Scotiabank lowering its price target from $71.00 to $65.00 while maintaining a "sector outperform" rating, and other analysts downgrading their ratings to "sell."

Commerce Bank acquired a new position in shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 8,199 shares of the biopharmaceutical company's stock, valued at approximately $240,000.

Several other hedge funds have also modified their holdings of the company. Jefferies Financial Group Inc. purchased a new stake in Agios Pharmaceuticals during the 4th quarter valued at $49,290,000. Adage Capital Partners GP L.L.C. purchased a new stake in Agios Pharmaceuticals during the 4th quarter valued at $9,957,000. Paradigm Biocapital Advisors LP purchased a new stake in Agios Pharmaceuticals during the 4th quarter valued at $9,084,000. Deutsche Bank AG raised its holdings in Agios Pharmaceuticals by 39.7% during the 4th quarter. Deutsche Bank AG now owns 935,252 shares of the biopharmaceutical company's stock valued at $30,732,000 after buying an additional 265,637 shares during the period. Finally, Casdin Capital LLC purchased a new stake in Agios Pharmaceuticals during the 4th quarter valued at $8,215,000.

Insiders Place Their Bets

In other news, insider Sarah Gheuens sold 11,914 shares of the firm's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $37.99, for a total transaction of $452,612.86. Following the transaction, the insider owned 61,271 shares in the company, valued at approximately $2,327,685.29. This trade represents a 16.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Cecilia Jones sold 1,780 shares of the firm's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $33.54, for a total value of $59,701.20. Following the transaction, the chief financial officer owned 30,049 shares in the company, valued at approximately $1,007,843.46. This represents a 5.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,363 shares of company stock valued at $1,619,654. Insiders own 4.93% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AGIO. Wall Street Zen lowered Agios Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Monday, May 19th. Scotiabank decreased their price target on Agios Pharmaceuticals from $71.00 to $65.00 and set a "sector outperform" rating on the stock in a report on Monday, July 28th. Finally, Bank of America decreased their price target on Agios Pharmaceuticals from $52.00 to $51.00 and set a "buy" rating on the stock in a report on Tuesday, July 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $56.33.

Agios Pharmaceuticals Stock Performance

AGIO stock traded up $0.67 during midday trading on Tuesday, reaching $35.75. The company's stock had a trading volume of 82,700 shares, compared to its average volume of 715,036. The stock has a fifty day simple moving average of $36.29 and a two-hundred day simple moving average of $32.68. Agios Pharmaceuticals, Inc. has a 1 year low of $23.42 and a 1 year high of $62.58. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 3.25 and a beta of 0.80.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last released its earnings results on Thursday, July 31st. The biopharmaceutical company reported ($1.93) earnings per share for the quarter, missing analysts' consensus estimates of ($1.74) by ($0.19). Agios Pharmaceuticals had a negative return on equity of 3.49% and a net margin of 1,590.42%. The business had revenue of $12.50 million during the quarter, compared to analysts' expectations of $9.46 million. As a group, analysts forecast that Agios Pharmaceuticals, Inc. will post -6.85 EPS for the current fiscal year.

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.