Agios Pharmaceuticals Inc (AGIO) Shares Fall After New Data on AG-221

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Agios Pharmaceuticals Inc (NASDAQ:AGIO) shares are down big this morning after the company reported data on Sunday regarding their dose-escalation phase and expansion cohorts from their ongoing Phase 1/2 study. The study, which evaluated AG-221, which inhibits mutant isocitrate dehydrogenase-2 (IDH2) in advanced hematologic malignancies was not as positive as the market had expected. The overall response rate out of 209 response-evaluable patients was just 38%.

“With data from more than 200 patients, it is clear that single agent AG-221 has a favorable safety profile and durable response rate in IDH2 mutant hematologic malignancies,” said Eytan Stein, M.D., lead investigator and attending physician in the leukemia service at Memorial Sloan Kettering Cancer Center. “In addition, a subset of patients with stable disease had improvements in neutrophil and platelet counts, which may have important clinical implications for reductions in infections and bleeding. We look forward to developing these data further to describe the overall clinical profile for AG-221 in patients with advanced cancers.”

While many on social media feel that the market is overreacting, shares continue to drop. The stock has fallen 17.06% or $10.56 following this negative news, hitting $51.33 per share. Approximately 574,079 shares traded hands. AGIO shares have declined 35.62% since May 4, 2015 and are currently downtrending. It has underperformed the S&P500 by 34.54%.

From a total of 5 analysts covering Agios Pharmaceuticals (NASDAQ:AGIO) stock, 2 rate it a “Buy”, 0 a “Sell”, and 3 a “Hold”. This means that 40% of the ratings are positive. The highest target price is $132 while the lowest target price is $70. The mean of all analyst targets is $91.40 which is 78.06% above today’s ($51.33) stock price. Agios Pharmaceuticals was the topic of 7 analyst reports since July 23, 2015 according to the firm StockzIntelligence Inc. Roth Capital maintained shares on November 9 with a “Neutral” rating. Northland Capital initiated AGIO stock in a recent report from July 23 with a “Outperform” rating.

The institutional sentiment decreased to 1.28 in Q2 2015. It’s down 0.22, from 1.5 in 2015Q1. The ratio is negative, as 31 funds sold all their Agios Pharmaceuticals Inc shares they owned while 41 reduced their positions. 34 funds bought stakes while 58 increased their total positions. Institutions now own 29.82 million shares which is 7.65% more than the previous share count of 27.71 million in 2015Q1.

Flagship Ventures 2007 General Partner Llc holds 87.15% of its total portfolio in Agios Pharmaceuticals Inc, equating to 1.93 million shares. Alpinvest Partners B.V. owns 52,291 shares representing 7.35% of their total US portfolio. Moreover, Bb Biotech Ag has 6% of their total portfolio invested in the company, equating to 1.99 million shares. The Massachusetts-based Eventide Asset Management Llc has a total of 1% of their portfolio invested in the stock. Capital International Ltd Ca, a California-based fund reported 138,500 shares owned.

Since March 9, 2015, the stock had 0 insider buys, and 17 selling transactions for a total of $18.02 million in net activity. Cantley Lewis Clayton Jr. sold 9,704 shares worth $593,497. Higgons John Duncan sold 20,000 shares worth $1.42M. Biller Scott sold 5,500 shares worth $387,420. Goddard Glenn sold 6,000 shares worth $515,820. The insider Bowden Christopher sold 5,000 shares worth $603,350.

Agios Pharmaceuticals, Inc. is a biopharmaceutical company. The company has a market cap of $2.26 billion. The Firm is engaged in the discovery and development of orally available small molecule medicines for the treatment of cancer and rare genetic disorders (RGDs) of metabolism using cellular metabolism as a platform. It currently has negative earnings. It is also engaged in the identification and validation of altered metabolic pathways within abnormal cells.

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