The Manufacturers Life Insurance Company Raises Position in Agios Pharmaceuticals, Inc. (NASDAQ:AGIO)

The Manufacturers Life Insurance Company lifted its holdings in shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) by 4.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 143,431 shares of the biopharmaceutical company’s stock after acquiring an additional 5,587 shares during the period. The Manufacturers Life Insurance Company’s holdings in Agios Pharmaceuticals were worth $6,373,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in AGIO. Northcape Wealth Management LLC purchased a new position in Agios Pharmaceuticals during the second quarter worth approximately $244,000. Bank of New York Mellon Corp boosted its holdings in Agios Pharmaceuticals by 13.9% in the second quarter. Bank of New York Mellon Corp now owns 223,151 shares of the biopharmaceutical company’s stock valued at $9,622,000 after acquiring an additional 27,193 shares during the last quarter. Panagora Asset Management Inc. purchased a new stake in Agios Pharmaceuticals during the second quarter valued at about $7,540,000. TD Asset Management Inc increased its stake in Agios Pharmaceuticals by 34.6% during the second quarter. TD Asset Management Inc now owns 210,472 shares of the biopharmaceutical company’s stock worth $9,076,000 after acquiring an additional 54,054 shares during the last quarter. Finally, North Star Asset Management Inc. purchased a new position in shares of Agios Pharmaceuticals in the 2nd quarter worth about $216,000.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AGIO shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Agios Pharmaceuticals in a report on Friday, September 20th. Raymond James reissued an “outperform” rating and issued a $51.00 price objective on shares of Agios Pharmaceuticals in a research report on Thursday, October 10th. StockNews.com upgraded shares of Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Leerink Partnrs downgraded Agios Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Friday, September 27th. Finally, Leerink Partners lowered Agios Pharmaceuticals from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $60.00 to $56.00 in a research report on Friday, September 27th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $52.33.

Insiders Place Their Bets

In related news, CFO Cecilia Jones sold 2,542 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $49.03, for a total transaction of $124,634.26. Following the completion of the sale, the chief financial officer now directly owns 20,158 shares of the company’s stock, valued at $988,346.74. This represents a 11.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.93% of the stock is currently owned by insiders.

Agios Pharmaceuticals Price Performance

NASDAQ:AGIO opened at $58.97 on Friday. Agios Pharmaceuticals, Inc. has a 12-month low of $20.96 and a 12-month high of $62.58. The firm has a market capitalization of $3.36 billion, a P/E ratio of 5.23 and a beta of 0.80. The business has a 50 day simple moving average of $49.39 and a 200 day simple moving average of $45.99.

Agios Pharmaceuticals Company 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.