Brokers Offer Predictions for Agios Pharmaceuticals, Inc.’s FY2017 Earnings (AGIO)
Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) – Leerink Swann reduced their FY2017 earnings estimates for shares of Agios Pharmaceuticals in a research report issued to clients and investors on Wednesday. Leerink Swann analyst M. Schmidt now expects that the biopharmaceutical company will post earnings of ($6.44) per share for the year, down from their previous forecast of ($6.36). Leerink Swann has a “Outperform” rating and a $80.00 price objective on the stock. Leerink Swann also issued estimates for Agios Pharmaceuticals’ Q4 2017 earnings at ($1.50) EPS, FY2018 earnings at ($7.38) EPS, FY2019 earnings at ($5.93) EPS and FY2020 earnings at ($4.38) EPS.
Agios Pharmaceuticals (NASDAQ:AGIO) last posted its quarterly earnings data on Wednesday, November 1st. The biopharmaceutical company reported ($1.59) earnings per share for the quarter, beating the consensus estimate of ($1.78) by $0.19. Agios Pharmaceuticals had a negative return on equity of 69.64% and a negative net margin of 506.39%. The company had revenue of $11.35 million during the quarter, compared to analysts’ expectations of $10.85 million. During the same period in the prior year, the business earned ($1.63) earnings per share. Agios Pharmaceuticals’s revenue for the quarter was up 26.4% compared to the same quarter last year.
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Other equities research analysts have also recently issued reports about the company. SunTrust Banks, Inc. reissued a “buy” rating and issued a $80.00 price objective on shares of Agios Pharmaceuticals in a research report on Wednesday, October 4th. J P Morgan Chase & Co reissued a “buy” rating and issued a $76.00 price objective on shares of Agios Pharmaceuticals in a research report on Monday, September 18th. BidaskClub raised Agios Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. Needham & Company LLC increased their price objective on Agios Pharmaceuticals from $54.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, August 10th. Finally, Canaccord Genuity set a $90.00 price objective on Agios Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, August 8th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $75.70.
Shares of Agios Pharmaceuticals (NASDAQ:AGIO) opened at $66.49 on Monday. Agios Pharmaceuticals has a 12-month low of $39.24 and a 12-month high of $72.73.
A number of institutional investors have recently added to or reduced their stakes in the business. Alps Advisors Inc. raised its stake in Agios Pharmaceuticals by 9.1% during the third quarter. Alps Advisors Inc. now owns 47,473 shares of the biopharmaceutical company’s stock worth $3,169,000 after acquiring an additional 3,962 shares in the last quarter. Swiss National Bank raised its stake in Agios Pharmaceuticals by 3.3% during the third quarter. Swiss National Bank now owns 68,460 shares of the biopharmaceutical company’s stock worth $4,570,000 after acquiring an additional 2,200 shares in the last quarter. S&CO Inc. acquired a new position in Agios Pharmaceuticals during the third quarter worth $227,000. State Board of Administration of Florida Retirement System raised its stake in Agios Pharmaceuticals by 6.9% during the third quarter. State Board of Administration of Florida Retirement System now owns 54,139 shares of the biopharmaceutical company’s stock worth $3,614,000 after acquiring an additional 3,510 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its stake in Agios Pharmaceuticals by 198.9% during the third quarter. Pictet Asset Management Ltd. now owns 54,700 shares of the biopharmaceutical company’s stock worth $3,651,000 after acquiring an additional 36,400 shares in the last quarter. Hedge funds and other institutional investors own 93.51% of the company’s stock.
In related news, Director Lewis Clayton Jr. Cantley sold 4,000 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $56.85, for a total value of $227,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Scott Biller sold 2,146 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $62.69, for a total value of $134,532.74. The disclosure for this sale can be found here. Insiders sold 178,908 shares of company stock valued at $12,147,719 over the last 90 days. 10.55% of the stock is currently owned by corporate 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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