Short Interest in Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) Drops By 5.6%

Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) was the recipient of a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 4,220,000 shares, a drop of 5.6% from the May 31st total of 4,470,000 shares. Based on an average daily volume of 795,400 shares, the short-interest ratio is currently 5.3 days. Currently, 7.6% of the shares of the stock are sold short.

Insider Activity at Agios Pharmaceuticals

In related news, Director Jacqualyn A. Fouse sold 7,791 shares of Agios Pharmaceuticals stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $27.55, for a total transaction of $214,642.05. Following the completion of the transaction, the director now directly owns 137,396 shares of the company’s stock, valued at approximately $3,785,259.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.93% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Frazier Life Sciences Management L.P. grew its holdings in Agios Pharmaceuticals by 79.2% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 523,166 shares of the biopharmaceutical company’s stock valued at $11,651,000 after purchasing an additional 231,164 shares during the period. Norges Bank acquired a new position in Agios Pharmaceuticals during the fourth quarter valued at approximately $6,826,000. Assenagon Asset Management S.A. grew its holdings in Agios Pharmaceuticals by 478.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 50,504 shares of the biopharmaceutical company’s stock valued at $1,125,000 after purchasing an additional 41,768 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in shares of Agios Pharmaceuticals in the fourth quarter valued at approximately $951,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Agios Pharmaceuticals by 5.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,596,764 shares of the biopharmaceutical company’s stock valued at $57,832,000 after buying an additional 137,873 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Agios Pharmaceuticals in a research note on Monday, June 17th. The Goldman Sachs Group boosted their target price on shares of Agios Pharmaceuticals from $33.00 to $53.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 4th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $46.00 target price on shares of Agios Pharmaceuticals in a research note on Thursday, June 13th. Royal Bank of Canada lifted their price target on shares of Agios Pharmaceuticals from $44.00 to $53.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 4th. Finally, StockNews.com cut shares of Agios Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Agios Pharmaceuticals currently has an average rating of “Hold” and a consensus target price of $50.67.

Agios Pharmaceuticals Price Performance

Shares of NASDAQ:AGIO opened at $42.05 on Wednesday. Agios Pharmaceuticals has a one year low of $19.80 and a one year high of $49.06. The company has a 50 day moving average of $38.72 and a 200-day moving average of $30.98. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of -6.65 and a beta of 0.78.

Agios Pharmaceuticals (NASDAQ:AGIO) last issued its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($1.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.65) by $0.20. The firm had revenue of $8.19 million during the quarter, compared to analysts’ expectations of $8.37 million. Agios Pharmaceuticals had a negative net margin of 1,199.26% and a negative return on equity of 41.41%. The business’s revenue for the quarter was up 46.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.47) earnings per share. Equities research analysts anticipate that Agios Pharmaceuticals will post -2.68 earnings per share for the current year.

About Agios Pharmaceuticals

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.