Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) Sees Significant Drop in Short Interest

Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) saw a significant drop in short interest in 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 trading volume, of 795,400 shares, the days-to-cover ratio is presently 5.3 days. Approximately 7.6% of the company’s stock are short sold.

Insider Activity at Agios Pharmaceuticals

In related news, Director Jacqualyn A. Fouse sold 7,791 shares of Agios Pharmaceuticals stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $27.55, for a total transaction of $214,642.05. Following the transaction, the director now directly owns 137,396 shares of the company’s stock, valued at $3,785,259.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. 4.93% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Agios Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Quest Partners LLC purchased a new stake in Agios Pharmaceuticals in the fourth quarter valued at $41,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Agios Pharmaceuticals by 352.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,469 shares of the biopharmaceutical company’s stock worth $144,000 after acquiring an additional 5,040 shares in the last quarter. NEOS Investment Management LLC purchased a new position in Agios Pharmaceuticals in the 4th quarter valued at about $210,000. Entropy Technologies LP purchased a new position in Agios Pharmaceuticals in the 1st quarter valued at about $286,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Agios Pharmaceuticals by 9.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,444 shares of the biopharmaceutical company’s stock valued at $255,000 after buying an additional 942 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AGIO shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Agios Pharmaceuticals in a report on Monday, June 17th. The Goldman Sachs Group lifted their price target on shares of Agios Pharmaceuticals from $33.00 to $53.00 and gave the stock a “neutral” rating in a report on Tuesday, June 4th. 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 report on Tuesday, June 4th. StockNews.com lowered shares of Agios Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, June 24th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $46.00 target price on shares of Agios Pharmaceuticals in a research report on Thursday, June 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $50.67.

Agios Pharmaceuticals Stock Performance

Shares of NASDAQ AGIO traded down $1.33 during mid-day trading on Tuesday, hitting $42.05. The stock had a trading volume of 467,545 shares, compared to its average volume of 823,611. The company has a 50 day moving average of $38.52 and a two-hundred day moving average of $30.85. Agios Pharmaceuticals has a twelve month low of $19.80 and a twelve month high of $49.06. The firm has a market cap of $2.39 billion, a PE ratio of -6.65 and a beta of 0.78.

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