Legal & General Group Plc Invests $16.13 Million in Agios Pharmaceuticals, Inc. $AGIO

Legal & General Group Plc purchased a new stake in shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 434,719 shares of the biopharmaceutical company’s stock, valued at approximately $16,132,000.

Several other institutional investors also recently modified their holdings of the business. AQR Capital Management LLC raised its position in Agios Pharmaceuticals by 66.8% in the 1st quarter. AQR Capital Management LLC now owns 51,489 shares of the biopharmaceutical company’s stock worth $1,498,000 after buying an additional 20,625 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Agios Pharmaceuticals by 7.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,327 shares of the biopharmaceutical company’s stock valued at $1,274,000 after acquiring an additional 2,920 shares during the last quarter. NewEdge Advisors LLC purchased a new position in shares of Agios Pharmaceuticals during the first quarter valued at approximately $40,000. Goldman Sachs Group Inc. lifted its position in Agios Pharmaceuticals by 16.1% during the first quarter. Goldman Sachs Group Inc. now owns 658,652 shares of the biopharmaceutical company’s stock valued at $19,299,000 after purchasing an additional 91,482 shares during the period. Finally, Woodline Partners LP bought a new position in Agios Pharmaceuticals during the first quarter valued at approximately $597,000.

Wall Street Analysts Forecast Growth

AGIO has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Agios Pharmaceuticals in a research report on Wednesday, June 24th. Truist Financial lowered their price target on Agios Pharmaceuticals from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Royal Bank Of Canada raised their price target on Agios Pharmaceuticals from $28.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 7th. HC Wainwright lifted their price objective on Agios Pharmaceuticals from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, Citigroup upped their price objective on Agios Pharmaceuticals from $46.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Agios Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $41.25.

Agios Pharmaceuticals Stock Performance

AGIO opened at $33.32 on Monday. The company’s 50 day moving average is $35.90 and its 200 day moving average is $31.66. The company has a market cap of $1.99 billion, a price-to-earnings ratio of -4.75 and a beta of 0.58. Agios Pharmaceuticals, Inc. has a 12-month low of $22.24 and a 12-month high of $46.00.

Agios Pharmaceuticals (NASDAQ:AGIO) last announced its earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.69) EPS for the quarter, missing analysts’ consensus estimates of ($1.65) by ($0.04). Agios Pharmaceuticals had a negative net margin of 418.24% and a negative return on equity of 35.67%. The business had revenue of $44.75 million for the quarter, compared to analysts’ expectations of $26.39 million. As a group, analysts predict that Agios Pharmaceuticals, Inc. will post -5.82 EPS for the current fiscal year.

Insider Activity

In other news, insider Sarah Gheuens sold 30,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $30.48, for a total transaction of $914,400.00. Following the completion of the sale, the insider owned 54,645 shares of the company’s stock, valued at $1,665,579.60. The trade was a 35.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.40% of the stock is currently owned by insiders.

About Agios Pharmaceuticals

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.