Legal & General Group Plc Invests $16.13 Million in Agios Pharmaceuticals, Inc. $AGIO

Key Points

• Legal & General Group Plc acquired 434,719 Agios Pharmaceuticals shares worth approximately $16.13 million, giving it a 0.73% stake. Several other institutional investors also increased their holdings.
• Analyst sentiment is generally positive, with Agios receiving a “Moderate Buy” consensus rating and an average price target of $41.25, despite ratings ranging from Strong Buy to Sell.
• Agios reported quarterly revenue of $44.75 million, above expectations, but missed its EPS estimate with a loss of $1.69 per share. The stock opened at $33.32, below its 50-day moving average of $35.90.

Legal & General Group Plc bought a new stake in shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 434,719 shares of the biopharmaceutical company's stock, valued at approximately $16,132,000. Legal & General Group Plc owned approximately 0.73% of Agios Pharmaceuticals at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AGIO. Creative Planning lifted its holdings in Agios Pharmaceuticals by 2.2% in the third quarter. Creative Planning now owns 13,119 shares of the biopharmaceutical company's stock worth $527,000 after buying an additional 280 shares during the period. The Manufacturers Life Insurance Company grew its stake in Agios Pharmaceuticals by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 132,083 shares of the biopharmaceutical company's stock worth $4,393,000 after purchasing an additional 512 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in Agios Pharmaceuticals by 3.4% in the third quarter. CANADA LIFE ASSURANCE Co now owns 20,325 shares of the biopharmaceutical company's stock worth $796,000 after purchasing an additional 662 shares during the period. California State Teachers Retirement System raised its holdings in Agios Pharmaceuticals by 1.4% in the second 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 in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Agios Pharmaceuticals by 8.6% in the second 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 in the last quarter.

Insiders Place Their Bets

In other Agios Pharmaceuticals news, insider Sarah Gheuens sold 30,000 shares of Agios Pharmaceuticals stock in a transaction dated 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 directly owned 54,645 shares of the company's stock, valued at approximately $1,665,579.60. The trade was a 35.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 5.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AGIO. HC Wainwright boosted their target price 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 reiterated a "sell (d)" rating on shares of Agios Pharmaceuticals in a research note on Wednesday, June 24th. Truist Financial lowered their price target 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. Citigroup boosted their price objective on shares of Agios Pharmaceuticals from $46.00 to $52.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Agios Pharmaceuticals from $31.00 to $34.00 and gave the stock a "neutral" rating in a report on Friday, August 7th. One 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $41.25.

Agios Pharmaceuticals Stock Performance

NASDAQ AGIO opened at $33.32 on Monday. Agios Pharmaceuticals, Inc. has a 12 month low of $22.24 and a 12 month high of $46.00. The stock has a market cap of $1.99 billion, a P/E ratio of -4.75 and a beta of 0.58. The stock's fifty day moving average price is $35.90 and its 200-day moving average price is $31.66.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.65) by ($0.04). The company had revenue of $44.75 million during the quarter, compared to analysts' expectations of $26.39 million. Agios Pharmaceuticals had a negative return on equity of 35.67% and a negative net margin of 418.24%. As a group, analysts forecast that Agios Pharmaceuticals, Inc. will post -5.82 earnings per share for the current fiscal year.

Agios Pharmaceuticals Company 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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