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

Pictet Asset Management Holding SA lowered its stake in shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) by 37.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 128,814 shares of the biopharmaceutical company’s stock after selling 76,205 shares during the quarter. Pictet Asset Management Holding SA owned about 0.22% of Agios Pharmaceuticals worth $4,358,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in Agios Pharmaceuticals by 485.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,471,416 shares of the biopharmaceutical company’s stock valued at $99,203,000 after acquiring an additional 2,049,287 shares during the last quarter. MPM Bioimpact LLC purchased a new position in shares of Agios Pharmaceuticals in the 4th quarter valued at approximately $35,478,000. State Street Corp increased its holdings in shares of Agios Pharmaceuticals by 37.4% in the fourth quarter. State Street Corp now owns 3,108,145 shares of the biopharmaceutical company’s stock valued at $84,604,000 after purchasing an additional 845,433 shares during the period. TCG Crossover Management LLC increased its holdings in shares of Agios Pharmaceuticals by 105.2% in the third quarter. TCG Crossover Management LLC now owns 1,430,041 shares of the biopharmaceutical company’s stock valued at $57,402,000 after purchasing an additional 733,038 shares during the period. Finally, Capital International Investors purchased a new stake in shares of Agios Pharmaceuticals during the fourth quarter worth approximately $19,159,000.

Agios Pharmaceuticals Price Performance

AGIO opened at $37.58 on Friday. The business has a 50 day simple moving average of $30.20 and a 200-day simple moving average of $29.31. The stock has a market capitalization of $2.23 billion, a P/E ratio of -5.18 and a beta of 0.54. 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 quarterly earnings data on Wednesday, April 29th. The biopharmaceutical company reported ($1.69) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.81) by $0.12. The firm had revenue of $20.75 million for the quarter, compared to analyst estimates of $13.30 million. Agios Pharmaceuticals had a negative return on equity of 34.11% and a negative net margin of 639.84%.The company’s quarterly revenue was up 137.7% compared to the same quarter last year. Research analysts anticipate that Agios Pharmaceuticals, Inc. will post -6.28 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wall Street Zen raised Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. Bank of America cut their price objective 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. HC Wainwright reduced their target price on shares of Agios Pharmaceuticals from $65.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Truist Financial lowered their target price on shares of Agios Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Agios Pharmaceuticals in a research note on Wednesday, June 24th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Agios Pharmaceuticals has an average rating of “Hold” and an average target price of $40.89.

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.