Panagora Asset Management Inc. Makes New Investment in Agios Pharmaceuticals, Inc. (NASDAQ:AGIO)

Panagora Asset Management Inc. bought a new stake in Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 174,870 shares of the biopharmaceutical company’s stock, valued at approximately $7,540,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Agios Pharmaceuticals by 9.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,444 shares of the biopharmaceutical company’s stock worth $255,000 after buying an additional 942 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Agios Pharmaceuticals by 31.8% in the fourth quarter. Handelsbanken Fonder AB now owns 12,023 shares of the biopharmaceutical company’s stock worth $268,000 after acquiring an additional 2,900 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in shares of Agios Pharmaceuticals by 18.9% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 112,726 shares of the biopharmaceutical company’s stock worth $2,510,000 after purchasing an additional 17,954 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Agios Pharmaceuticals by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 456,394 shares of the biopharmaceutical company’s stock worth $10,164,000 after purchasing an additional 4,699 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Agios Pharmaceuticals by 111.5% in the 4th quarter. BNP Paribas Financial Markets now owns 125,309 shares of the biopharmaceutical company’s stock valued at $2,791,000 after purchasing an additional 66,070 shares during the last quarter.

Insider Activity

In related news, CEO Brian Goff sold 11,091 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $42.75, for a total transaction of $474,140.25. Following the completion of the sale, the chief executive officer now directly owns 78,792 shares of the company’s stock, valued at approximately $3,368,358. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.93% of the company’s stock.

Agios Pharmaceuticals Price Performance

Shares of AGIO stock opened at $45.91 on Friday. The company has a market capitalization of $2.61 billion, a PE ratio of -7.26 and a beta of 0.79. The firm’s 50-day moving average is $45.15 and its two-hundred day moving average is $37.52. Agios Pharmaceuticals, Inc. has a 12 month low of $19.80 and a 12 month high of $50.35.

Agios Pharmaceuticals (NASDAQ:AGIO) last released its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.69) EPS for the quarter, missing the consensus estimate of ($1.60) by ($0.09). The firm had revenue of $8.60 million for the quarter, compared to analysts’ expectations of $9.34 million. Agios Pharmaceuticals had a negative net margin of 1,165.69% and a negative return on equity of 44.84%. The firm’s quarterly revenue was up 28.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.51) EPS. Sell-side analysts forecast that Agios Pharmaceuticals, Inc. will post -2.15 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AGIO shares. The Goldman Sachs Group upped their target price on shares of Agios Pharmaceuticals from $33.00 to $53.00 and gave the stock a “neutral” rating in a report on Tuesday, June 4th. StockNews.com cut shares of Agios Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $46.00 target price on shares of Agios Pharmaceuticals in a research note on Thursday, June 13th. Cantor Fitzgerald restated an “overweight” rating on shares of Agios Pharmaceuticals in a research report on Monday, June 17th. Finally, Royal Bank of Canada lifted their price objective on Agios Pharmaceuticals from $53.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $51.33.

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.