Short Interest in Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) Declines By 16.2%

Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totalling 2,900,000 shares, a decrease of 16.2% from the August 15th total of 3,460,000 shares. Based on an average daily trading volume, of 541,500 shares, the short-interest ratio is currently 5.4 days. Approximately 5.3% of the shares of the company are sold short.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Agios Pharmaceuticals in a report on Monday, June 17th. The Goldman Sachs Group raised their price objective on Agios Pharmaceuticals from $33.00 to $53.00 and gave the company a “neutral” rating in a research note 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 research report on Thursday, June 13th. StockNews.com cut Agios Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. Finally, Royal Bank of Canada boosted their price objective on shares of Agios Pharmaceuticals from $53.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. 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 stock. Based on data from MarketBeat.com, Agios Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $51.33.

Insider Transactions at Agios Pharmaceuticals

In related news, CEO Brian Goff sold 11,091 shares of Agios Pharmaceuticals stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $42.75, for a total value of $474,140.25. Following the sale, the chief executive officer now directly owns 78,792 shares in the company, valued at $3,368,358. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 4.93% of the company’s stock.

Institutional Trading of Agios Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new stake in Agios Pharmaceuticals during the 2nd quarter worth $37,000. Quest Partners LLC purchased a new stake in shares of Agios Pharmaceuticals during the second quarter worth about $40,000. NEOS Investment Management LLC acquired a new position in shares of Agios Pharmaceuticals in the fourth quarter worth about $210,000. North Star Asset Management Inc. purchased a new position in Agios Pharmaceuticals in the second quarter valued at about $216,000. Finally, XTX Topco Ltd acquired a new stake in Agios Pharmaceuticals during the 2nd quarter valued at approximately $230,000.

Agios Pharmaceuticals Trading Up 0.6 %

Shares of AGIO stock opened at $45.69 on Wednesday. Agios Pharmaceuticals has a twelve month low of $19.80 and a twelve month high of $50.35. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of -7.24 and a beta of 0.75. The firm has a 50-day moving average price of $45.53 and a 200 day moving average price of $38.83.

Agios Pharmaceuticals (NASDAQ:AGIO) last issued its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.09). The business had revenue of $8.60 million for the quarter, compared to analysts’ expectations of $9.34 million. Agios Pharmaceuticals had a negative return on equity of 47.05% and a negative net margin of 1,165.69%. The company’s revenue for the quarter was up 28.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.51) EPS. As a group, research analysts predict that Agios Pharmaceuticals will post -4.85 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.