Peregrine Capital Management LLC Acquires Shares of 162,905 Agios Pharmaceuticals, Inc. $AGIO

Peregrine Capital Management LLC acquired a new position in Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 162,905 shares of the biopharmaceutical company’s stock, valued at approximately $6,539,000.

Other institutional investors also recently bought and sold shares of the company. Bellevue Group AG grew its position in shares of Agios Pharmaceuticals by 2.1% during the 2nd quarter. Bellevue Group AG now owns 3,590,150 shares of the biopharmaceutical company’s stock worth $119,408,000 after buying an additional 75,000 shares in the last quarter. Commodore Capital LP lifted its stake in Agios Pharmaceuticals by 6.4% in the second quarter. Commodore Capital LP now owns 2,325,000 shares of the biopharmaceutical company’s stock worth $77,330,000 after acquiring an additional 140,000 shares during the period. Geode Capital Management LLC grew its holdings in Agios Pharmaceuticals by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,405,755 shares of the biopharmaceutical company’s stock worth $46,762,000 after acquiring an additional 11,174 shares in the last quarter. Frazier Life Sciences Management L.P. grew its holdings in Agios Pharmaceuticals by 19.6% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,279,754 shares of the biopharmaceutical company’s stock worth $42,565,000 after acquiring an additional 209,900 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its holdings in Agios Pharmaceuticals by 6.5% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 791,000 shares of the biopharmaceutical company’s stock worth $26,309,000 after acquiring an additional 48,000 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AGIO. HC Wainwright increased their price objective on shares of Agios Pharmaceuticals from $48.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, December 24th. JPMorgan Chase & Co. upped their target price on Agios Pharmaceuticals from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday. Zacks Research raised Agios Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Leerink Partners boosted their price target on Agios Pharmaceuticals from $34.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, December 26th. Finally, Bank of America upped their price objective on Agios Pharmaceuticals from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, December 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Agios Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $39.44.

Agios Pharmaceuticals Trading Up 0.9%

AGIO stock opened at $28.41 on Friday. The stock has a market cap of $1.66 billion, a P/E ratio of -4.06 and a beta of 0.89. The stock’s fifty day simple moving average is $30.70 and its two-hundred day simple moving average is $35.73. Agios Pharmaceuticals, Inc. has a 1-year low of $22.24 and a 1-year high of $46.00.

Agios Pharmaceuticals (NASDAQ:AGIO) last released its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported ($1.78) EPS for the quarter, beating the consensus estimate of ($1.93) by $0.15. The business had revenue of $12.88 million for the quarter, compared to the consensus estimate of $10.49 million. Agios Pharmaceuticals had a negative net margin of 895.86% and a negative return on equity of 28.35%. The company’s revenue was up 43.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $16.22 earnings per share. As a group, analysts forecast that Agios Pharmaceuticals, Inc. will post -6.85 earnings per share for the current fiscal year.

Insider Activity

In other Agios Pharmaceuticals news, insider Sarah Gheuens sold 2,932 shares of Agios Pharmaceuticals stock in a transaction dated Tuesday, December 30th. The stock was sold at an average price of $27.09, for a total transaction of $79,427.88. Following the completion of the sale, the insider owned 64,795 shares of the company’s stock, valued at $1,755,296.55. The trade was a 4.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James William Burns sold 2,932 shares of the company’s stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of $27.09, for a total transaction of $79,427.88. Following the completion of the sale, the insider directly owned 31,718 shares of the company’s stock, valued at $859,240.62. This trade represents a 8.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 37,005 shares of company stock worth $1,064,531. Corporate insiders own 4.30% of the company’s stock.

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.