$11.36 Million in Sales Expected for Agios Pharmaceuticals, Inc. (AGIO) This Quarter
Wall Street analysts expect that Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) will post $11.36 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Agios Pharmaceuticals’ earnings. The highest sales estimate is $13.83 million and the lowest is $9.10 million. Agios Pharmaceuticals reported sales of $8.99 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 26.4%. The company is expected to issue its next earnings results on Thursday, November 2nd.
On average, analysts expect that Agios Pharmaceuticals will report full year sales of $11.36 million for the current financial year, with estimates ranging from $44.10 million to $55.90 million. For the next year, analysts anticipate that the business will report sales of $110.78 million per share, with estimates ranging from $54.42 million to $232.90 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Agios Pharmaceuticals.
Agios Pharmaceuticals (NASDAQ:AGIO) last released its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($1.78) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.57) by ($0.21). Agios Pharmaceuticals had a negative net margin of 502.12% and a negative return on equity of 68.15%. The business had revenue of $11.30 million for the quarter, compared to the consensus estimate of $10.68 million. During the same quarter last year, the business earned ($1.47) EPS. Agios Pharmaceuticals’s revenue for the quarter was up 62.1% compared to the same quarter last year.
A number of research firms have recently issued reports on AGIO. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $80.00 target price (up previously from $68.00) on shares of Agios Pharmaceuticals in a report on Tuesday, August 8th. Canaccord Genuity set a $90.00 target price on shares of Agios Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Janney Montgomery Scott reaffirmed a “hold” rating on shares of Agios Pharmaceuticals in a report on Tuesday, August 1st. Leerink Swann raised shares of Agios Pharmaceuticals from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $50.00 to $80.00 in a report on Wednesday, August 2nd. Finally, Needham & Company LLC upped their price objective on shares of Agios Pharmaceuticals from $54.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, August 10th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $75.20.
Agios Pharmaceuticals (AGIO) opened at 67.25 on Friday. The company’s market cap is $3.25 billion. The firm’s 50-day moving average is $67.31 and its 200 day moving average is $57.15. Agios Pharmaceuticals has a 52-week low of $39.24 and a 52-week high of $72.73.
In other Agios Pharmaceuticals news, Director Lewis Clayton Jr. Cantley sold 4,000 shares of the company’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $71.10, for a total value of $284,400.00. Following the transaction, the director now owns 84,394 shares of the company’s stock, valued at $6,000,413.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David P. Schenkein sold 80,000 shares of the company’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $70.14, for a total transaction of $5,611,200.00. The disclosure for this sale can be found here. Insiders sold 220,908 shares of company stock worth $14,628,238 in the last ninety days. 10.55% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. lifted its position 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. QS Investors LLC acquired a new position in Agios Pharmaceuticals in the second quarter valued at about $144,000. Cubist Systematic Strategies LLC lifted its position in Agios Pharmaceuticals by 1,041.0% in the second quarter. Cubist Systematic Strategies LLC now owns 3,423 shares of the biopharmaceutical company’s stock valued at $176,000 after buying an additional 3,123 shares during the last quarter. Aperio Group LLC acquired a new position in Agios Pharmaceuticals in the second quarter valued at about $206,000. Finally, Parametrica Management Ltd acquired a new position in Agios Pharmaceuticals in the second quarter valued at about $228,000. 93.97% 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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