Palo Alto Investors LP Makes New Investment in Agios Pharmaceuticals, Inc. $AGIO

Key Points

• Palo Alto Investors LP invested approximately $8.10 million in Agios Pharmaceuticals, acquiring 276,578 shares, which constitutes 1.5% of their total holdings.
• The stock received mixed ratings from analysts, with some downgrading it to a "sell" while others maintain a "buy" rating, resulting in an average rating of "Moderate Buy" and a consensus price target of $56.33.
• Agios Pharmaceuticals reported (\$1.93) EPS for the latest quarter, missing estimates, but exceeded revenue expectations with $12.50 million in earnings compared to the forecast of $9.46 million.

Palo Alto Investors LP purchased a new position in Agios Pharmaceuticals, Inc. (NASDAQ:AGIO - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 276,578 shares of the biopharmaceutical company's stock, valued at approximately $8,104,000. Agios Pharmaceuticals accounts for approximately 1.5% of Palo Alto Investors LP's investment portfolio, making the stock its 16th biggest holding. Palo Alto Investors LP owned approximately 0.48% of Agios Pharmaceuticals as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its stake in Agios Pharmaceuticals by 16.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,582 shares of the biopharmaceutical company's stock worth $105,000 after purchasing an additional 499 shares during the period. CWM LLC boosted its stake in Agios Pharmaceuticals by 150.2% in the 1st quarter. CWM LLC now owns 1,659 shares of the biopharmaceutical company's stock worth $49,000 after purchasing an additional 996 shares during the period. GF Fund Management CO. LTD. bought a new position in Agios Pharmaceuticals in the 4th quarter worth approximately $39,000. Harbor Capital Advisors Inc. boosted its stake in Agios Pharmaceuticals by 5.8% in the 1st quarter. Harbor Capital Advisors Inc. now owns 35,729 shares of the biopharmaceutical company's stock worth $1,047,000 after purchasing an additional 1,962 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in Agios Pharmaceuticals by 28.8% in the 1st quarter. Victory Capital Management Inc. now owns 8,784 shares of the biopharmaceutical company's stock worth $257,000 after purchasing an additional 1,964 shares during the period.

Insider Activity at Agios Pharmaceuticals

In related news, insider Sarah Gheuens sold 11,914 shares of the 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 sale, the insider owned 61,271 shares in the company, valued at approximately $2,327,685.29. This represents a 16.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Cecilia Jones sold 1,780 shares of the 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 sale, the chief financial officer owned 30,049 shares in the company, valued at $1,007,843.46. The trade was a 5.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 57,448 shares of company stock worth $2,026,141 in the last ninety days. Corporate insiders own 4.30% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on AGIO. Wall Street Zen downgraded Agios Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Monday, May 19th. Scotiabank lowered their target price on Agios Pharmaceuticals from $71.00 to $65.00 and set a "sector outperform" rating for the company in a research report on Monday, July 28th. Bank of America lowered their target price on Agios Pharmaceuticals from $52.00 to $51.00 and set a "buy" rating for the company in a research report on Tuesday, July 22nd. Finally, HC Wainwright reiterated a "buy" rating and set a $56.00 target price on shares of Agios Pharmaceuticals in a research report on Thursday. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Agios Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.00.

Agios Pharmaceuticals Price Performance

Shares of NASDAQ AGIO traded down $0.12 during midday trading on Friday, reaching $36.01. 1,481,598 shares of the stock traded hands, compared to its average volume of 661,170. The stock has a market capitalization of $2.09 billion, a PE ratio of 3.27 and a beta of 0.87. Agios Pharmaceuticals, Inc. has a one year low of $23.42 and a one year high of $62.58. The company's 50 day moving average is $37.58 and its 200 day moving average is $33.21.

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

Agios Pharmaceuticals Company 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.