Agios Pharmaceuticals (NASDAQ:AGIO) Releases Quarterly Earnings Results, Misses Estimates By $0.19 EPS

Key Points

• Agios Pharmaceuticals reported a quarterly loss of ($1.93) EPS, missing estimates by $0.19, despite revenue of $12.50 million, surpassing the forecast of $9.46 million.
• The company's stock closed at $35.00, after a drop of $2.22 in trading, with a market capitalization of $2.03 billion and a PE ratio of 3.18.
• Analysts are mixed on AGIO's stock with a consensus rating of "Moderate Buy" and a price target of $56.33, while some have downgraded their ratings and target prices recently.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) posted its quarterly earnings data on Thursday. The biopharmaceutical company reported ($1.93) earnings per share for the quarter, missing the consensus estimate of ($1.74) by ($0.19), Zacks reports. The company had revenue of $12.50 million during the quarter, compared to the consensus estimate of $9.46 million. Agios Pharmaceuticals had a negative return on equity of 3.39% and a net margin of 1,590.42%.

Agios Pharmaceuticals Stock Performance

NASDAQ:AGIO traded down $2.22 during trading hours on Friday, reaching $35.00. The stock had a trading volume of 2,351,119 shares, compared to its average volume of 723,031. Agios Pharmaceuticals has a 52 week low of $23.42 and a 52 week high of $62.58. The company has a 50 day moving average price of $35.69 and a two-hundred day moving average price of $32.57. The stock has a market capitalization of $2.03 billion, a PE ratio of 3.18 and a beta of 0.80.

Analyst Ratings Changes

Several analysts have issued reports on AGIO shares. Scotiabank cut their target price on Agios Pharmaceuticals from $71.00 to $65.00 and set a "sector outperform" rating for the company in a research note on Monday. Wall Street Zen lowered Agios Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Monday, May 19th. Finally, Bank of America cut their target price on Agios Pharmaceuticals from $52.00 to $51.00 and set a "buy" rating for the company in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $56.33.

Insider Activity

In other news, CFO Cecilia Jones sold 1,780 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $33.54, for a total transaction of $59,701.20. Following the transaction, the chief financial officer owned 30,049 shares of the company's stock, valued at approximately $1,007,843.46. This represents a 5.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sarah Gheuens sold 11,914 shares of the stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $37.99, for a total value of $452,612.86. Following the transaction, the insider directly owned 61,271 shares in the company, valued at $2,327,685.29. The trade was a 16.28% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,363 shares of company stock worth $1,619,654. Company insiders own 4.30% of the company's stock.

Institutional Investors Weigh In On Agios Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC raised its stake in shares of Agios Pharmaceuticals by 66.8% in the first quarter. AQR Capital Management LLC now owns 51,489 shares of the biopharmaceutical company's stock worth $1,498,000 after purchasing an additional 20,625 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Agios Pharmaceuticals by 7.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,327 shares of the biopharmaceutical company's stock worth $1,274,000 after purchasing an additional 2,920 shares during the last quarter. NewEdge Advisors LLC purchased a new position in shares of Agios Pharmaceuticals in the first quarter worth about $40,000. Goldman Sachs Group Inc. raised its stake in shares of Agios Pharmaceuticals by 16.1% in the first quarter. Goldman Sachs Group Inc. now owns 658,652 shares of the biopharmaceutical company's stock worth $19,299,000 after purchasing an additional 91,482 shares during the last quarter. Finally, Woodline Partners LP purchased a new position in shares of Agios Pharmaceuticals in the first quarter worth about $597,000.

About Agios Pharmaceuticals

Agios Pharmaceuticals, Inc, a biopharmaceutical company, discovers and develops medicines in the field of cellular metabolism in the United States. Its lead product includes PYRUKYND (mitapivat), an activator of wild-type and mutant pyruvate kinase (PK), enzymes for the treatment of hemolytic anemias.

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