Agios Pharmaceuticals, Inc. $AGIO Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its stake in Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) by 37.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 128,814 shares of the biopharmaceutical company’s stock after selling 76,205 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Agios Pharmaceuticals were worth $4,358,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Bellevue Group AG grew its holdings in shares of Agios Pharmaceuticals by 3.5% in the 3rd quarter. Bellevue Group AG now owns 3,714,736 shares of the biopharmaceutical company’s stock worth $149,110,000 after acquiring an additional 124,586 shares during the period. State Street Corp raised its holdings in Agios Pharmaceuticals by 37.4% during the fourth quarter. State Street Corp now owns 3,108,145 shares of the biopharmaceutical company’s stock worth $84,604,000 after purchasing an additional 845,433 shares during the last quarter. Erste Asset Management GmbH raised its holdings in Agios Pharmaceuticals by 1.4% during the fourth quarter. Erste Asset Management GmbH now owns 2,804,900 shares of the biopharmaceutical company’s stock worth $76,343,000 after purchasing an additional 40,000 shares during the last quarter. Wellington Management Group LLP boosted its position in Agios Pharmaceuticals by 485.5% during the third quarter. Wellington Management Group LLP now owns 2,471,416 shares of the biopharmaceutical company’s stock worth $99,203,000 after purchasing an additional 2,049,287 shares in the last quarter. Finally, Commodore Capital LP boosted its position in Agios Pharmaceuticals by 0.6% during the third quarter. Commodore Capital LP now owns 2,338,287 shares of the biopharmaceutical company’s stock worth $93,859,000 after purchasing an additional 13,287 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on Agios Pharmaceuticals from $36.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, June 11th. Truist Financial lowered 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. HC Wainwright dropped their target price on shares of Agios Pharmaceuticals from $65.00 to $50.00 and set a “buy” rating for the company in a report on Monday, April 20th. Bank of America cut their target price on shares of Agios Pharmaceuticals from $41.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, May 29th. Finally, Wall Street Zen raised 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 assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $40.89.

Agios Pharmaceuticals Stock Performance

Agios Pharmaceuticals stock opened at $37.58 on Friday. Agios Pharmaceuticals, Inc. has a fifty-two week low of $22.24 and a fifty-two week high of $46.00. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of -5.18 and a beta of 0.54. The stock has a fifty day moving average of $30.20 and a two-hundred day moving average of $29.31.

Agios Pharmaceuticals (NASDAQ:AGIO) last issued its quarterly earnings data on Wednesday, April 29th. The biopharmaceutical company reported ($1.69) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.81) by $0.12. The business had revenue of $20.75 million for the quarter, compared to the consensus estimate of $13.30 million. Agios Pharmaceuticals had a negative return on equity of 34.11% and a negative net margin of 639.84%.Agios Pharmaceuticals’s quarterly revenue was up 137.7% compared to the same quarter last year. On average, analysts forecast that Agios Pharmaceuticals, Inc. will post -6.28 EPS for the current fiscal year.

Agios Pharmaceuticals 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.