Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) Announces Earnings Results
Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) posted its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($1.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.57) by $0.21, Bloomberg Earnings reports. The company had revenue of $11.30 million during the quarter, compared to analyst estimates of $10.68 million. Agios Pharmaceuticals had a negative net margin of 502.12% and a negative return on equity of 75.48%. Agios Pharmaceuticals’s revenue for the quarter was up 62.1% on a year-over-year basis. During the same period in the prior year, the business earned ($1.47) EPS.
Agios Pharmaceuticals (NASDAQ AGIO) opened at 60.56 on Thursday. The stock’s market cap is $2.92 billion. Agios Pharmaceuticals has a 12-month low of $35.84 and a 12-month high of $67.74. The stock has a 50 day moving average price of $56.81 and a 200-day moving average price of $51.69.
A number of equities research analysts have issued reports on AGIO shares. BidaskClub raised Agios Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. Oppenheimer Holdings, Inc. set a $75.00 price target on Agios Pharmaceuticals and gave the company a “buy” rating in a research report on Sunday, June 11th. Cann reaffirmed a “buy” rating and issued a $75.00 price target on shares of Agios Pharmaceuticals in a research report on Sunday, June 11th. Canaccord Genuity set a $90.00 price target on Agios Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, May 18th. Finally, SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $80.00 price target (up previously from $68.00) on shares of Agios Pharmaceuticals in a research report on Tuesday. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $68.67.
In related news, CEO David P. Schenkein sold 27,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $59.95, for a total value of $1,618,650.00. Following the transaction, the chief executive officer now owns 3,000 shares in the company, valued at $179,850. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lewis Clayton Jr. Cantley sold 2,036 shares of the business’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $47.10, for a total value of $95,895.60. Following the completion of the transaction, the director now owns 91,206 shares in the company, valued at approximately $4,295,802.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,120 shares of company stock worth $4,557,207. Insiders own 10.55% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AGIO. BlackRock Inc. boosted its position in Agios Pharmaceuticals by 8,463.5% in the first quarter. BlackRock Inc. now owns 2,167,074 shares of the biopharmaceutical company’s stock valued at $126,556,000 after buying an additional 2,141,768 shares during the period. Goldman Sachs Group Inc. boosted its position in Agios Pharmaceuticals by 748.0% in the first quarter. Goldman Sachs Group Inc. now owns 649,124 shares of the biopharmaceutical company’s stock valued at $37,909,000 after buying an additional 572,579 shares during the period. First Trust Advisors LP boosted its position in Agios Pharmaceuticals by 52.3% in the second quarter. First Trust Advisors LP now owns 973,870 shares of the biopharmaceutical company’s stock valued at $50,106,000 after buying an additional 334,291 shares during the period. Norges Bank acquired a new position in Agios Pharmaceuticals during the fourth quarter valued at approximately $8,246,000. Finally, Redmile Group LLC boosted its position in Agios Pharmaceuticals by 22.2% in the first quarter. Redmile Group LLC now owns 902,578 shares of the biopharmaceutical company’s stock valued at $52,711,000 after buying an additional 164,127 shares during the period. Institutional investors and hedge funds own 84.53% of the company’s stock.
WARNING: This report was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this report on another website, it was stolen and republished in violation of United States & international trademark and copyright legislation. The legal version of this report can be viewed at https://www.thecerbatgem.com/2017/08/10/agios-pharmaceuticals-inc-nasdaqagio-announces-earnings-results.html.
About Agios Pharmaceuticals
Agios Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company’s therapeutic areas of focus are cancer and rare genetic metabolic disorders, which are a group of over 600 rare genetic diseases caused by mutations, or defects, of single metabolic genes. The Company’s cancer product candidates are enasidenib and ivosidenib (AG-120), which target mutated isocitrate dehydrogenase 2 (IDH2) and isocitrate dehydrogenase 1 (IDH1), respectively, and AG-881, which targets both mutated IDH1 and mutated IDH2.
Receive News & Stock Ratings for Agios Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Agios Pharmaceuticals Inc. and related stocks with our FREE daily email newsletter.