Parkman Healthcare Partners LLC Invests $24.83 Million in Agios Pharmaceuticals, Inc. $AGIO

Parkman Healthcare Partners LLC bought a new position in Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) during the 2nd quarter, Holdings Channel.com reports. The firm bought 669,046 shares of the biopharmaceutical company’s stock, valued at approximately $24,828,000. Agios Pharmaceuticals accounts for about 2.5% of Parkman Healthcare Partners LLC’s portfolio, making the stock its 9th largest holding.

Several other hedge funds also recently made changes to their positions in the company. Sei Investments Co. grew its stake in shares of Agios Pharmaceuticals by 342.8% in the first quarter. Sei Investments Co. now owns 63,550 shares of the biopharmaceutical company’s stock worth $2,150,000 after purchasing an additional 49,198 shares during the last quarter. GW&K Investment Management LLC raised its position in Agios Pharmaceuticals by 41.5% during the 4th quarter. GW&K Investment Management LLC now owns 1,207,301 shares of the biopharmaceutical company’s stock valued at $32,863,000 after purchasing an additional 354,359 shares during the last quarter. SCS Capital Management LLC purchased a new stake in Agios Pharmaceuticals in the 2nd quarter worth approximately $22,743,000. State of New Jersey Common Pension Fund D purchased a new stake in Agios Pharmaceuticals in the 4th quarter worth approximately $1,291,000. Finally, Seven Fleet Capital Management LP bought a new stake in shares of Agios Pharmaceuticals in the 4th quarter worth approximately $864,000.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AGIO shares. Citigroup boosted their target price on Agios Pharmaceuticals from $46.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Bank of America raised their price target on Agios Pharmaceuticals from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Truist Financial cut their price target on shares of Agios Pharmaceuticals from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Weiss Ratings reissued a “sell (d)” rating on shares of Agios Pharmaceuticals in a research report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Agios Pharmaceuticals from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Agios Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $41.25.

Agios Pharmaceuticals Stock Performance

Shares of NASDAQ:AGIO opened at $32.64 on Tuesday. The firm has a market capitalization of $1.95 billion, a P/E ratio of -4.66 and a beta of 0.58. The stock has a 50 day moving average price of $35.85 and a 200-day moving average price of $31.47. Agios Pharmaceuticals, Inc. has a 52-week low of $22.24 and a 52-week high of $46.00.

Agios Pharmaceuticals (NASDAQ:AGIO) last released its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.69) earnings per share for the quarter, missing the consensus estimate of ($1.65) by ($0.04). The firm had revenue of $44.75 million for the quarter, compared to the consensus estimate of $26.39 million. Agios Pharmaceuticals had a negative net margin of 418.24% and a negative return on equity of 35.67%. On average, equities analysts forecast that Agios Pharmaceuticals, Inc. will post -5.8 EPS for the current fiscal year.

Insider Activity at Agios Pharmaceuticals

In other news, insider Sarah Gheuens sold 30,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $30.48, for a total value of $914,400.00. Following the sale, the insider directly owned 54,645 shares of the company’s stock, valued at $1,665,579.60. This represents a 35.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 5.40% 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.