Connor Clark & Lunn Investment Management Ltd. Makes New $13.34 Million Investment in Agios Pharmaceuticals, Inc. $AGIO

Key Points

• Connor Clark & Lunn Investment Management acquired 359,550 Agios Pharmaceuticals shares worth approximately $13.34 million, representing about 0.60% of the company. Several other major institutions, including BlackRock and Wellington Management, also increased or initiated positions.
• Analysts remain broadly positive, with Agios holding a “Moderate Buy” consensus rating and an average price target of $41.25. Targets range from $32 to $46, although one analyst maintains a sell rating.
• Agios reported a quarterly loss of $1.69 per share, slightly worse than estimates, despite revenue of $44.75 million exceeding expectations. An insider separately sold 30,000 shares for $914,400 under a pre-arranged trading plan.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 359,550 shares of the biopharmaceutical company's stock, valued at approximately $13,343,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.60% of Agios Pharmaceuticals at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of Agios Pharmaceuticals during the second quarter valued at $239,582,000. Wellington Management Group LLP grew its holdings in shares of Agios Pharmaceuticals by 485.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,471,416 shares of the biopharmaceutical company's stock worth $99,203,000 after purchasing an additional 2,049,287 shares during the last quarter. MPM Bioimpact LLC bought a new stake in shares of Agios Pharmaceuticals in the 4th quarter worth about $35,478,000. State Street Corp increased its position in shares of Agios Pharmaceuticals by 37.4% during the 4th quarter. State Street Corp now owns 3,108,145 shares of the biopharmaceutical company's stock worth $84,604,000 after purchasing an additional 845,433 shares in the last quarter. Finally, TCG Crossover Management LLC increased its position in shares of Agios Pharmaceuticals by 105.2% during the 3rd quarter. TCG Crossover Management LLC now owns 1,430,041 shares of the biopharmaceutical company's stock worth $57,402,000 after purchasing an additional 733,038 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Royal Bank Of Canada boosted their price target on shares of Agios Pharmaceuticals from $28.00 to $32.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 7th. TD Cowen upgraded shares of Agios Pharmaceuticals to a "strong-buy" rating in a research note on Monday. Bank of America boosted their target price on Agios Pharmaceuticals from $40.00 to $46.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Weiss Ratings restated a "sell (d)" rating on shares of Agios Pharmaceuticals in a research report on Wednesday, June 24th. Finally, Truist Financial dropped their price target on Agios Pharmaceuticals from $41.00 to $39.00 and set a "buy" rating for the company in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Agios Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $41.25.

Insider Buying and Selling at Agios Pharmaceuticals

In related news, insider Sarah Gheuens sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $30.48, for a total value of $914,400.00. Following the completion of the transaction, the insider owned 54,645 shares in the company, valued at $1,665,579.60. The trade was a 35.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.40% of the stock is currently owned by corporate insiders.

Agios Pharmaceuticals Stock Up 3.9%

Shares of NASDAQ:AGIO opened at $33.90 on Wednesday. The firm has a market cap of $2.02 billion, a P/E ratio of -4.84 and a beta of 0.58. Agios Pharmaceuticals, Inc. has a 12 month low of $22.24 and a 12 month high of $46.00. The company's 50-day moving average price is $35.89 and its two-hundred day moving average price is $31.51.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last announced its earnings results 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). Agios Pharmaceuticals had a negative return on equity of 35.67% and a negative net margin of 418.24%.The company had revenue of $44.75 million during the quarter, compared to the consensus estimate of $26.39 million. As a group, equities analysts predict that Agios Pharmaceuticals, Inc. will post -5.8 earnings per share for the current fiscal year.

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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