Oppenheimer Holdings Brokers Lift Earnings Estimates for Agios Pharmaceuticals, Inc. (AGIO)
Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) – Research analysts at Oppenheimer Holdings boosted their FY2017 earnings per share (EPS) estimates for Agios Pharmaceuticals in a report issued on Wednesday. Oppenheimer Holdings analyst L. Cann now anticipates that the biopharmaceutical company will post earnings per share of ($6.63) for the year, up from their previous estimate of ($7.39). Oppenheimer Holdings has a “Outperform” rating and a $83.00 price objective on the stock. Oppenheimer Holdings also issued estimates for Agios Pharmaceuticals’ Q4 2017 earnings at ($1.69) EPS, Q1 2018 earnings at ($2.06) EPS, Q2 2018 earnings at ($2.21) EPS, Q3 2018 earnings at ($2.37) EPS, Q4 2018 earnings at ($0.58) EPS, FY2018 earnings at ($7.22) EPS, FY2019 earnings at ($1.42) EPS, FY2020 earnings at $3.07 EPS and FY2021 earnings at $5.68 EPS.
Agios Pharmaceuticals (NASDAQ:AGIO) last announced its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($1.59) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.78) by $0.19. Agios Pharmaceuticals had a negative net margin of 506.39% and a negative return on equity of 69.64%. The company had revenue of $11.35 million for the quarter, compared to analyst estimates of $10.85 million. During the same period in the prior year, the business earned ($1.63) earnings per share. Agios Pharmaceuticals’s quarterly revenue was up 26.4% on a year-over-year basis.
Several other brokerages also recently commented on AGIO. BidaskClub downgraded shares of Agios Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Royal Bank Of Canada initiated coverage on shares of Agios Pharmaceuticals in a research note on Thursday, September 14th. They issued an “outperform” rating and a $78.00 target price for the company. J P Morgan Chase & Co reaffirmed a “buy” rating and issued a $76.00 target price on shares of Agios Pharmaceuticals in a research note on Monday, September 18th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $80.00 target price on shares of Agios Pharmaceuticals in a research note on Wednesday, October 4th. Finally, Canaccord Genuity set a $90.00 price objective on shares of Agios Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, August 8th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Agios Pharmaceuticals has an average rating of “Buy” and an average target price of $75.70.
Agios Pharmaceuticals (NASDAQ:AGIO) opened at $67.25 on Monday. Agios Pharmaceuticals has a twelve month low of $39.24 and a twelve month high of $72.73.
In related news, insider Scott Biller sold 2,146 shares of Agios Pharmaceuticals stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $62.69, for a total transaction of $134,532.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lewis Clayton Jr. Cantley sold 4,000 shares of Agios Pharmaceuticals stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $56.85, for a total transaction of $227,400.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 178,908 shares of company stock valued at $12,147,719. 10.55% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. Macquarie Group Ltd. acquired a new stake in Agios Pharmaceuticals during the 3rd quarter worth approximately $245,000. Ameriprise Financial Inc. boosted its position in Agios Pharmaceuticals by 15.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 57,504 shares of the biopharmaceutical company’s stock worth $3,838,000 after buying an additional 7,510 shares during the period. Hood River Capital Management LLC boosted its position in Agios Pharmaceuticals by 2.1% during the 3rd quarter. Hood River Capital Management LLC now owns 121,390 shares of the biopharmaceutical company’s stock worth $8,103,000 after buying an additional 2,546 shares during the period. Bank of New York Mellon Corp boosted its position in Agios Pharmaceuticals by 3.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 176,405 shares of the biopharmaceutical company’s stock worth $11,775,000 after buying an additional 6,632 shares during the period. Finally, Teacher Retirement System of Texas acquired a new stake in Agios Pharmaceuticals during the 3rd quarter worth approximately $225,000. 93.51% of the stock is currently owned by institutional investors.
Agios Pharmaceuticals Company Profile
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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