Agios Pharmaceuticals, Inc. to Post Q3 2017 Earnings of ($1.78) Per Share, SunTrust Banks Forecasts (NASDAQ:AGIO)
Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) – Research analysts at SunTrust Banks dropped their Q3 2017 earnings per share (EPS) estimates for Agios Pharmaceuticals in a report issued on Tuesday. SunTrust Banks analyst Y. Suneja now anticipates that the biopharmaceutical company will post earnings per share of ($1.78) for the quarter, down from their previous forecast of ($1.64). SunTrust Banks currently has a “Buy” rating and a $80.00 target price on the stock. SunTrust Banks also issued estimates for Agios Pharmaceuticals’ Q4 2017 earnings at ($1.77) EPS, FY2017 earnings at ($6.92) EPS, FY2019 earnings at ($5.80) EPS, FY2020 earnings at ($4.90) EPS and FY2021 earnings at ($1.80) EPS.
Agios Pharmaceuticals (NASDAQ:AGIO) last released its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.78) EPS for the quarter, missing analysts’ consensus estimates of ($1.57) by $0.21. Agios Pharmaceuticals had a negative return on equity of 75.48% and a negative net margin of 502.12%. The company had revenue of $11.30 million during the quarter, compared to analysts’ expectations of $10.68 million. During the same period in the prior year, the company posted ($1.47) earnings per share. The company’s revenue was up 62.1% on a year-over-year basis.
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AGIO has been the subject of several other reports. Oppenheimer Holdings, Inc. set a $75.00 price target on Agios Pharmaceuticals and gave the stock a “buy” rating in a research report on Sunday, June 11th. Credit Suisse Group reissued an “outperform” rating and issued a $61.00 price target on shares of Agios Pharmaceuticals in a research report on Tuesday, April 18th. Zacks Investment Research raised Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, April 28th. Janney Montgomery Scott reissued a “hold” rating on shares of Agios Pharmaceuticals in a research report on Tuesday, August 1st. Finally, Canaccord Genuity set a $90.00 price target on Agios Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $68.67.
Shares of Agios Pharmaceuticals (NASDAQ AGIO) opened at 60.56 on Thursday. Agios Pharmaceuticals has a 1-year low of $35.84 and a 1-year high of $67.74. The stock’s market capitalization is $2.92 billion. The stock has a 50 day moving average price of $56.81 and a 200-day moving average price of $51.69.
Hedge funds and other institutional investors have recently made changes to their positions in the company. C WorldWide Group Holding A S purchased a new stake in Agios Pharmaceuticals during the first quarter valued at $105,000. Bank of Montreal Can increased its stake in Agios Pharmaceuticals by 11.7% in the first quarter. Bank of Montreal Can now owns 2,068 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 216 shares during the last quarter. Blue Sky Asset Management LLC purchased a new stake in Agios Pharmaceuticals during the first quarter valued at $129,000. Russell Investments Group Ltd. increased its stake in Agios Pharmaceuticals by 163.9% in the first quarter. Russell Investments Group Ltd. now owns 2,549 shares of the biopharmaceutical company’s stock valued at $149,000 after buying an additional 1,583 shares during the last quarter. Finally, Advantage Investment Management LLC increased its stake in Agios Pharmaceuticals by 109.7% in the first quarter. Advantage Investment Management LLC now owns 3,250 shares of the biopharmaceutical company’s stock valued at $190,000 after buying an additional 1,700 shares during the last quarter. Hedge funds and other institutional investors own 84.53% of the company’s stock.
In related news, Director Lewis Clayton Jr. Cantley sold 2,036 shares of the business’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $47.10, for a total transaction of $95,895.60. Following the transaction, the director now directly owns 91,206 shares in the company, valued at approximately $4,295,802.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO David P. Schenkein sold 3,000 shares of the business’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $50.02, for a total value of $150,060.00. Following the transaction, the chief executive officer now owns 1,100 shares in the company, valued at $55,022. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,120 shares of company stock worth $4,557,207. 10.55% of the stock is owned by company insiders.
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.
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