State of New Jersey Common Pension Fund D Buys New Shares in Agios Pharmaceuticals, Inc. $AGIO

State of New Jersey Common Pension Fund D purchased a new position in shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 47,414 shares of the biopharmaceutical company’s stock, valued at approximately $1,291,000.

Other hedge funds have also recently bought and sold shares of the company. HighVista Strategies LLC lifted its position in Agios Pharmaceuticals by 178.5% during the third quarter. HighVista Strategies LLC now owns 195,298 shares of the biopharmaceutical company’s stock worth $7,839,000 after acquiring an additional 125,171 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Agios Pharmaceuticals by 68.0% during the fourth quarter. SG Americas Securities LLC now owns 46,451 shares of the biopharmaceutical company’s stock worth $1,264,000 after purchasing an additional 18,801 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Agios Pharmaceuticals by 64.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 110,440 shares of the biopharmaceutical company’s stock worth $3,006,000 after acquiring an additional 43,287 shares in the last quarter. Erste Asset Management GmbH lifted its stake in Agios Pharmaceuticals by 18.8% during the third quarter. Erste Asset Management GmbH now owns 2,764,900 shares of the biopharmaceutical company’s stock worth $108,578,000 after purchasing an additional 438,411 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC lifted its stake in Agios Pharmaceuticals by 3.2% during the third quarter. ArrowMark Colorado Holdings LLC now owns 679,922 shares of the biopharmaceutical company’s stock worth $27,292,000 after purchasing an additional 21,231 shares during the last quarter.

Agios Pharmaceuticals Price Performance

AGIO opened at $27.79 on Monday. The company’s 50-day moving average is $29.70 and its 200 day moving average is $30.59. Agios Pharmaceuticals, Inc. has a fifty-two week low of $22.24 and a fifty-two week high of $46.00. The firm has a market capitalization of $1.65 billion, a PE ratio of -3.83 and a beta of 0.58.

Agios Pharmaceuticals (NASDAQ:AGIO) last released its quarterly earnings results on Wednesday, April 29th. The biopharmaceutical company reported ($1.69) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.81) by $0.12. Agios Pharmaceuticals had a negative net margin of 639.84% and a negative return on equity of 34.11%. The company had revenue of $20.75 million for the quarter, compared to analyst estimates of $13.30 million. The firm’s revenue was up 137.7% compared to the same quarter last year. As a group, analysts expect that Agios Pharmaceuticals, Inc. will post -6.19 EPS for the current year.

Insider Activity at Agios Pharmaceuticals

In other Agios Pharmaceuticals news, insider Krishnan Viswanadhan sold 2,959 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $27.80, for a total value of $82,260.20. Following the sale, the insider directly owned 5,141 shares in the company, valued at $142,919.80. The trade was a 36.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Tsveta Milanova sold 3,262 shares of the business’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $34.71, for a total value of $113,224.02. Following the completion of the sale, the insider owned 46,829 shares in the company, valued at $1,625,434.59. This represents a 6.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 15,582 shares of company stock valued at $520,405 over the last three months. Insiders own 5.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Agios Pharmaceuticals in a research note on Friday, March 27th. Bank of America decreased their price target on shares of Agios Pharmaceuticals from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. HC Wainwright reduced their price objective on shares of Agios Pharmaceuticals from $65.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Truist Financial reduced their price objective on shares of Agios Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Finally, Wall Street Zen upgraded shares of Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Agios Pharmaceuticals presently has an average rating of “Hold” and an average target price of $41.56.

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.