Pictet Asset Management SA Increases Stake in Agios Pharmaceuticals, Inc. (NASDAQ:AGIO)

Pictet Asset Management SA grew its position in Agios Pharmaceuticals, Inc. (NASDAQ:AGIOGet Rating) by 33.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 165,972 shares of the biopharmaceutical company’s stock after purchasing an additional 41,686 shares during the period. Pictet Asset Management SA’s holdings in Agios Pharmaceuticals were worth $3,680,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in AGIO. First Trust Advisors LP raised its stake in shares of Agios Pharmaceuticals by 27.2% in the first quarter. First Trust Advisors LP now owns 1,613,429 shares of the biopharmaceutical company’s stock valued at $46,967,000 after acquiring an additional 344,959 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Agios Pharmaceuticals by 39.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,010,616 shares of the biopharmaceutical company’s stock valued at $29,420,000 after acquiring an additional 285,215 shares during the period. State Street Corp grew its holdings in shares of Agios Pharmaceuticals by 6.5% in the first quarter. State Street Corp now owns 3,186,513 shares of the biopharmaceutical company’s stock worth $92,759,000 after purchasing an additional 193,631 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Agios Pharmaceuticals by 5.6% in the first quarter. JPMorgan Chase & Co. now owns 3,275,392 shares of the biopharmaceutical company’s stock worth $95,345,000 after purchasing an additional 174,982 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Agios Pharmaceuticals in the second quarter worth about $2,423,000.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. The Goldman Sachs Group upgraded shares of Agios Pharmaceuticals from a “sell” rating to a “neutral” rating and upped their price target for the stock from $17.00 to $32.00 in a report on Thursday. SVB Leerink upped their price target on shares of Agios Pharmaceuticals from $33.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. Finally, StockNews.com assumed coverage on shares of Agios Pharmaceuticals in a report on Wednesday, October 12th. They issued a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $53.43.

Agios Pharmaceuticals Price Performance

Shares of Agios Pharmaceuticals stock opened at $28.21 on Monday. Agios Pharmaceuticals, Inc. has a 1 year low of $16.75 and a 1 year high of $39.38. The firm’s 50-day moving average is $28.59 and its two-hundred day moving average is $25.13. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -4.24 and a beta of 0.99.

Agios Pharmaceuticals (NASDAQ:AGIOGet Rating) last issued its earnings results on Thursday, November 3rd. The biopharmaceutical company reported ($1.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.71) by $0.22. The business had revenue of $3.52 million for the quarter, compared to the consensus estimate of $5.24 million. During the same quarter in the previous year, the company earned ($1.48) earnings per share. On average, equities analysts expect that Agios Pharmaceuticals, Inc. will post -6.34 earnings per share for the current year.

Agios Pharmaceuticals Company Profile

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Agios Pharmaceuticals, Inc, a biopharmaceutical company, engages in the discovery and development of medicines in the field of cellular metabolism and adjacent areas of biology. The company offers PYRUKYND (mitapivat) an activator of both wild-type and a variety of mutant pyruvate kinase, PK, enzymes for the treatment of hemolytic anemias; and AG-946 that is in Phase I clinical study for treating hemolytic anemias and other indications.

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Institutional Ownership by Quarter for Agios Pharmaceuticals (NASDAQ:AGIO)

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