Cannell Peter B & Co. Inc. Invests $3.74 Million in Agios Pharmaceuticals Inc (AGIO)

Cannell Peter B & Co. Inc. bought a new position in shares of Agios Pharmaceuticals Inc (NASDAQ:AGIO) in the third quarter, Holdings Channel reports. The firm bought 48,485 shares of the biopharmaceutical company’s stock, valued at approximately $3,739,000.

Several other large investors have also recently modified their holdings of the company. Rockefeller Capital Management L.P. purchased a new position in Agios Pharmaceuticals in the 3rd quarter worth approximately $134,000. Tiverton Asset Management LLC purchased a new position in Agios Pharmaceuticals in the 2nd quarter worth approximately $142,000. Strs Ohio purchased a new position in Agios Pharmaceuticals in the 2nd quarter worth approximately $179,000. NewSquare Capital LLC purchased a new position in Agios Pharmaceuticals in the 2nd quarter worth approximately $182,000. Finally, Barrett Asset Management LLC purchased a new position in Agios Pharmaceuticals in the 2nd quarter worth approximately $253,000. Institutional investors and hedge funds own 94.38% of the company’s stock.

In other Agios Pharmaceuticals news, insider Scott Biller sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $69.69, for a total value of $209,070.00. Following the transaction, the insider now directly owns 53,932 shares of the company’s stock, valued at approximately $3,758,521.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Steven L. Hoerter sold 2,050 shares of the company’s stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $74.92, for a total value of $153,586.00. Following the completion of the transaction, the insider now directly owns 2,050 shares in the company, valued at $153,586. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,305 shares of company stock worth $1,943,413. 3.02% of the stock is currently owned by corporate insiders.

A number of research firms have weighed in on AGIO. BidaskClub upgraded Agios Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday. Cowen restated a “buy” rating on shares of Agios Pharmaceuticals in a report on Friday, November 2nd. ValuEngine upgraded Agios Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 1st. Oppenheimer restated a “hold” rating on shares of Agios Pharmaceuticals in a report on Thursday, November 1st. Finally, Leerink Swann began coverage on Agios Pharmaceuticals in a report on Monday, September 24th. They issued a “market perform” rating and a $80.00 price target for the company. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Agios Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $96.27.

Shares of AGIO opened at $71.91 on Friday. Agios Pharmaceuticals Inc has a 52-week low of $51.62 and a 52-week high of $99.82.

Agios Pharmaceuticals (NASDAQ:AGIO) last announced its earnings results on Thursday, November 1st. The biopharmaceutical company reported ($1.63) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.62) by ($0.01). Agios Pharmaceuticals had a negative net margin of 461.78% and a negative return on equity of 48.51%. The business had revenue of $15.20 million during the quarter, compared to analyst estimates of $22.72 million. During the same period in the previous year, the company earned ($1.59) earnings per share. The business’s revenue for the quarter was up 33.8% on a year-over-year basis. On average, equities analysts anticipate that Agios Pharmaceuticals Inc will post -6.12 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Cannell Peter B & Co. Inc. Invests $3.74 Million in Agios Pharmaceuticals Inc (AGIO)” was reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this piece of content on another site, it was illegally stolen and reposted in violation of US & international trademark & copyright laws. The original version of this piece of content can be read at https://sportsperspectives.com/2018/11/09/cannell-peter-b-co-inc-invests-3-74-million-in-agios-pharmaceuticals-inc-agio.html.

Agios Pharmaceuticals Profile

Agios Pharmaceuticals, Inc, a biopharmaceutical company, engages in the discovery and development of medicines for the treatment of cancer and rare genetic metabolic disorders in the United States. It is developing IDHIFA, a potent inhibitor of the mutated isocitrate dehydrogenase (IDH) 2 protein that is in Phase I/II clinical trials for patients with advanced hematologic malignancies with an IDH 2 mutation; Phase III clinical trial for patients with IDH2 mutant-positive acute myeloid leukemia (AML); Phase Ib frontline combination trial for patients with newly diagnosed AML with an IDH2 or IDH1 mutation; and Phase I/II frontline combination trial for patients with newly diagnosed AML.

Further Reading: Swap

Want to see what other hedge funds are holding AGIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Agios Pharmaceuticals Inc (NASDAQ:AGIO).

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

Receive News & Ratings for Agios Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Agios Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply