Agios Pharmaceuticals (AGIO) Announces Earnings Results, Misses Estimates By $0.16 EPS
Agios Pharmaceuticals (NASDAQ:AGIO) announced its quarterly earnings results on Wednesday. The biopharmaceutical company reported ($1.81) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.65) by ($0.16), Bloomberg Earnings reports. Agios Pharmaceuticals had a negative net margin of 506.39% and a negative return on equity of 69.64%. The company had revenue of $9.80 million during the quarter, compared to analyst estimates of $12.65 million. During the same quarter last year, the company posted ($1.34) EPS. The firm’s quarterly revenue was down 56.7% on a year-over-year basis.
Shares of Agios Pharmaceuticals (AGIO) opened at $77.97 on Thursday. Agios Pharmaceuticals has a twelve month low of $45.11 and a twelve month high of $82.96. The firm has a market cap of $4,263.30, a P/E ratio of -12.44 and a beta of 2.12.
AGIO has been the topic of a number of research reports. Oppenheimer reiterated a “buy” rating and issued a $83.00 price target on shares of Agios Pharmaceuticals in a research note on Monday, December 11th. Cann reiterated a “buy” rating on shares of Agios Pharmaceuticals in a research note on Tuesday, December 5th. Canaccord Genuity set a $90.00 target price on shares of Agios Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Credit Suisse Group increased their target price on shares of Agios Pharmaceuticals from $61.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, November 2nd. Finally, BidaskClub lowered shares of Agios Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, December 16th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $77.64.
Institutional investors have recently modified their holdings of the company. Royal Bank of Canada lifted its holdings in shares of Agios Pharmaceuticals by 40.8% during the 2nd quarter. Royal Bank of Canada now owns 9,131 shares of the biopharmaceutical company’s stock worth $470,000 after acquiring an additional 2,648 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Agios Pharmaceuticals by 21.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 49,994 shares of the biopharmaceutical company’s stock worth $2,572,000 after acquiring an additional 8,965 shares during the period. Northern Trust Corp lifted its holdings in shares of Agios Pharmaceuticals by 31.3% during the 2nd quarter. Northern Trust Corp now owns 232,802 shares of the biopharmaceutical company’s stock worth $11,977,000 after acquiring an additional 55,560 shares during the period. Alps Advisors Inc. lifted its holdings in shares of Agios Pharmaceuticals by 9.1% during the 3rd 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 during the period. Finally, Brown Advisory Inc. lifted its holdings in shares of Agios Pharmaceuticals by 8.5% during the 3rd quarter. Brown Advisory Inc. now owns 291,139 shares of the biopharmaceutical company’s stock worth $19,433,000 after acquiring an additional 22,736 shares during the period. 82.74% of the stock is owned by institutional investors.
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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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