Frazier Life Sciences Management L.P. Has $37.60 Million Stake in Agios Pharmaceuticals, Inc. (NASDAQ:AGIO)

Frazier Life Sciences Management L.P. grew its position in Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) by 66.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 871,974 shares of the biopharmaceutical company’s stock after purchasing an additional 348,808 shares during the period. Agios Pharmaceuticals makes up approximately 1.8% of Frazier Life Sciences Management L.P.’s investment portfolio, making the stock its 18th largest holding. Frazier Life Sciences Management L.P. owned 1.54% of Agios Pharmaceuticals worth $37,600,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AGIO. Norges Bank bought a new stake in shares of Agios Pharmaceuticals in the fourth quarter valued at about $6,826,000. Allianz Asset Management GmbH lifted its holdings in shares of Agios Pharmaceuticals by 38.8% in the fourth quarter. Allianz Asset Management GmbH now owns 149,111 shares of the biopharmaceutical company’s stock valued at $3,321,000 after purchasing an additional 41,701 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of Agios Pharmaceuticals in the fourth quarter valued at about $951,000. NEOS Investment Management LLC bought a new stake in Agios Pharmaceuticals during the fourth quarter worth about $210,000. Finally, Rafferty Asset Management LLC raised its holdings in Agios Pharmaceuticals by 14.9% during the fourth quarter. Rafferty Asset Management LLC now owns 153,485 shares of the biopharmaceutical company’s stock worth $3,418,000 after acquiring an additional 19,861 shares in the last quarter.

Agios Pharmaceuticals Stock Down 5.1 %

Shares of NASDAQ AGIO opened at $45.61 on Friday. The business’s 50 day moving average price is $45.68 and its two-hundred day moving average price is $39.74. The company has a market cap of $2.59 billion, a PE ratio of -7.22 and a beta of 0.75. Agios Pharmaceuticals, Inc. has a twelve month low of $19.80 and a twelve month high of $53.28.

Agios Pharmaceuticals (NASDAQ:AGIO) last posted its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.69) EPS for the quarter, missing the consensus estimate of ($1.60) by ($0.09). The firm had revenue of $8.60 million during the quarter, compared to analyst estimates of $9.34 million. Agios Pharmaceuticals had a negative net margin of 1,165.69% and a negative return on equity of 47.05%. Agios Pharmaceuticals’s revenue for the quarter was up 28.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.51) EPS. As a group, research analysts anticipate that Agios Pharmaceuticals, Inc. will post -4.85 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Brian Goff sold 11,091 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $42.75, for a total transaction of $474,140.25. Following the sale, the chief executive officer now owns 78,792 shares of the company’s stock, valued at $3,368,358. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.93% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AGIO. StockNews.com lowered Agios Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, August 5th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Agios Pharmaceuticals in a report on Friday, September 20th. The Goldman Sachs Group upped their target price on Agios Pharmaceuticals from $33.00 to $53.00 and gave the stock a “neutral” rating in a report on Tuesday, June 4th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $46.00 target price on shares of Agios Pharmaceuticals in a report on Thursday, June 13th. Finally, Leerink Partners downgraded Agios Pharmaceuticals from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $60.00 to $56.00 in a research report on Friday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $52.50.

Agios Pharmaceuticals Profile

Agios Pharmaceuticals, Inc, a biopharmaceutical company, discovers and develops medicines in the field of cellular metabolism in the United States. Its lead product includes PYRUKYND (mitapivat), an activator of wild-type and mutant pyruvate kinase (PK), enzymes for the treatment of hemolytic anemias.