Agios Pharmaceuticals (NASDAQ:AGIO) Releases Earnings Results, Misses Expectations 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) issued 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 net margin of 1,590.42% and a negative return on equity of 3.49%.

Agios Pharmaceuticals Trading Up 0.0%

AGIO stock traded up $0.01 during mid-day trading on Tuesday, hitting $36.17. The stock had a trading volume of 946,394 shares, compared to its average volume of 717,518. Agios Pharmaceuticals has a 52 week low of $23.42 and a 52 week high of $62.58. The firm has a market capitalization of $2.10 billion, a P/E ratio of 3.29 and a beta of 0.80. The firm has a fifty day simple moving average of $35.81 and a 200 day simple moving average of $32.60.

Insider Transactions at Agios Pharmaceuticals

In other news, insider Sarah Gheuens sold 11,914 shares of the firm's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $37.99, for a total value of $452,612.86. Following the sale, the insider directly owned 61,271 shares in the company, valued at approximately $2,327,685.29. This trade represents a 16.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Cecilia Jones sold 1,780 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $33.54, for a total transaction of $59,701.20. Following the completion of the sale, the chief financial officer owned 30,049 shares in the company, valued at approximately $1,007,843.46. The trade was a 5.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,363 shares of company stock worth $1,619,654. Corporate 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 AGIO. AQR Capital Management LLC boosted its stake in shares of Agios Pharmaceuticals by 66.8% in the 1st quarter. AQR Capital Management LLC now owns 51,489 shares of the biopharmaceutical company's stock valued at $1,498,000 after purchasing an additional 20,625 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Agios Pharmaceuticals by 7.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,327 shares of the biopharmaceutical company's stock worth $1,274,000 after buying an additional 2,920 shares during the period. NewEdge Advisors LLC acquired a new stake in Agios Pharmaceuticals during the 1st quarter worth approximately $40,000. Goldman Sachs Group Inc. boosted its position in Agios Pharmaceuticals by 16.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 658,652 shares of the biopharmaceutical company's stock worth $19,299,000 after buying an additional 91,482 shares during the period. Finally, Woodline Partners LP acquired a new stake in Agios Pharmaceuticals during the 1st quarter worth approximately $597,000.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AGIO shares. Wall Street Zen lowered shares of Agios Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Monday, May 19th. Scotiabank lowered their price target on shares of Agios Pharmaceuticals from $71.00 to $65.00 and set a "sector outperform" rating on the stock in a research report on Monday, July 28th. Finally, Bank of America lowered their price target on shares of Agios Pharmaceuticals from $52.00 to $51.00 and set a "buy" rating on the stock in a research report on Tuesday, July 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $56.33.

Agios Pharmaceuticals Company Profile

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.