Frazier Life Sciences Management L.P. Purchases 348,808 Shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO)

Frazier Life Sciences Management L.P. grew its position in Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) by 66.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 871,974 shares of the biopharmaceutical company’s stock after acquiring an additional 348,808 shares during the period. Agios Pharmaceuticals accounts for approximately 1.8% of Frazier Life Sciences Management L.P.’s investment portfolio, making the stock its 18th biggest position. Frazier Life Sciences Management L.P.’s holdings in Agios Pharmaceuticals were worth $37,600,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Caxton Associates LP lifted its stake in shares of Agios Pharmaceuticals by 0.7% in the 2nd quarter. Caxton Associates LP now owns 37,453 shares of the biopharmaceutical company’s stock valued at $1,615,000 after acquiring an additional 264 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Agios Pharmaceuticals by 0.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,248 shares of the biopharmaceutical company’s stock worth $1,148,000 after purchasing an additional 314 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in Agios Pharmaceuticals by 1.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 31,144 shares of the biopharmaceutical company’s stock worth $911,000 after purchasing an additional 540 shares during the last quarter. Acadian Asset Management LLC bought a new position in Agios Pharmaceuticals during the 2nd quarter worth $37,000. Finally, Quest Partners LLC bought a new position in Agios Pharmaceuticals during the 2nd quarter worth $40,000.

Insider Activity

In other 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 value of $474,140.25. Following the completion of the sale, the chief executive officer now directly owns 78,792 shares in the company, valued at approximately $3,368,358. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 4.93% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on AGIO shares. StockNews.com lowered Agios Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. Leerink Partners downgraded Agios Pharmaceuticals from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $60.00 to $56.00 in a report on Friday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Agios Pharmaceuticals in a report on Friday, September 20th. The Goldman Sachs Group increased their price target on Agios Pharmaceuticals from $33.00 to $53.00 and gave the stock a “neutral” rating in a report on Tuesday, June 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $55.00 price target on shares of Agios Pharmaceuticals in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $52.50.

Agios Pharmaceuticals Price Performance

Shares of AGIO opened at $45.61 on Friday. The stock has a 50-day moving average of $45.68 and a 200-day moving average of $39.74. The company has a market cap of $2.59 billion, a PE ratio of -7.22 and a beta of 0.75. Agios Pharmaceuticals, Inc. has a one year low of $19.80 and a one year high of $53.28.

Agios Pharmaceuticals (NASDAQ:AGIO) last issued its 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 during the quarter, compared to analyst estimates of $9.34 million. Agios Pharmaceuticals had a negative net margin of 1,165.69% and a negative return on equity of 47.05%. The business’s quarterly revenue was up 28.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.51) earnings per share. Analysts expect that Agios Pharmaceuticals, Inc. will post -4.85 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.