Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) Posts Earnings Results, Misses Expectations By $0.21 EPS
Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) announced its quarterly earnings data on Tuesday. The biopharmaceutical company reported ($1.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.57) by $0.21, Bloomberg Earnings reports. The company had revenue of $11.30 million for the quarter, compared to analysts’ expectations of $10.68 million. Agios Pharmaceuticals had a negative net margin of 491.54% and a negative return on equity of 71.20%. Agios Pharmaceuticals’s quarterly revenue was up 62.1% compared to the same quarter last year. During the same period last year, the firm earned ($1.47) earnings per share.
Agios Pharmaceuticals (NASDAQ:AGIO) opened at 61.06 on Tuesday. The firm has a 50 day moving average of $55.14 and a 200-day moving average of $50.99. The firm’s market cap is $2.94 billion. Agios Pharmaceuticals has a 12 month low of $35.84 and a 12 month high of $67.74.
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AGIO has been the subject of a number of research reports. Zacks Investment Research downgraded shares of Agios Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. Credit Suisse Group restated an “outperform” rating and set a $61.00 target price on shares of Agios Pharmaceuticals in a research report on Tuesday, April 18th. Cann restated a “buy” rating and set a $75.00 target price on shares of Agios Pharmaceuticals in a research report on Wednesday, April 19th. Canaccord Genuity set a $90.00 target price on shares of Agios Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, May 4th. Finally, Oppenheimer Holdings, Inc. set a $75.00 target price on shares of Agios Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, June 1st. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $67.25.
In other Agios Pharmaceuticals news, Director Lewis Clayton Jr. Cantley sold 2,036 shares of the firm’s stock in a transaction on Thursday, May 25th. The shares were 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 of the company’s stock, valued at approximately $4,295,802.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David P. Schenkein sold 3,000 shares of the firm’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $50.02, for a total transaction of $150,060.00. Following the transaction, the chief executive officer now directly owns 1,100 shares in the company, valued at $55,022. The disclosure for this sale can be found here. Insiders have sold a total of 79,120 shares of company stock worth $4,557,207 over the last three months. 10.55% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. C WorldWide Group Holding A S purchased a new stake in Agios Pharmaceuticals during the first quarter valued at approximately $105,000. Bank of Montreal Can boosted 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 period. Blue Sky Asset Management LLC purchased a new stake in Agios Pharmaceuticals during the first quarter valued at approximately $129,000. Russell Investments Group Ltd. boosted 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 period. Finally, Advantage Investment Management LLC boosted 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 period. 84.53% of the stock is currently owned by institutional investors.
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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