Agios Pharmaceuticals (NASDAQ:AGIO) Issues Quarterly Earnings Results

Agios Pharmaceuticals (NASDAQ:AGIOGet Rating) posted its quarterly earnings results on Thursday. The biopharmaceutical company reported ($1.68) earnings per share for the quarter, topping the consensus estimate of ($1.78) by $0.10, Briefing.com reports. The business had revenue of $5.58 million during the quarter, compared to the consensus estimate of $2.86 million. The business’s revenue for the quarter was up 5482.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.36) earnings per share.

Agios Pharmaceuticals Trading Up 3.9 %

Shares of NASDAQ AGIO opened at $29.74 on Friday. Agios Pharmaceuticals has a 1 year low of $16.75 and a 1 year high of $50.98. The company’s 50-day moving average is $21.47 and its 200 day moving average is $25.43.

Hedge Funds Weigh In On Agios Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. First Trust Advisors LP increased its position in shares of Agios Pharmaceuticals by 27.2% during the first quarter. First Trust Advisors LP now owns 1,613,429 shares of the biopharmaceutical company’s stock valued at $46,967,000 after buying an additional 344,959 shares during the period. Dimensional Fund Advisors LP grew its holdings in Agios Pharmaceuticals by 39.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,010,616 shares of the biopharmaceutical company’s stock worth $29,420,000 after purchasing an additional 285,215 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Agios Pharmaceuticals by 2.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 395,248 shares of the biopharmaceutical company’s stock worth $11,506,000 after purchasing an additional 9,613 shares during the period. Invesco Ltd. grew its holdings in Agios Pharmaceuticals by 131.3% in the first quarter. Invesco Ltd. now owns 76,637 shares of the biopharmaceutical company’s stock worth $2,232,000 after purchasing an additional 43,504 shares during the period. Finally, Allianz Asset Management GmbH grew its holdings in Agios Pharmaceuticals by 10.1% in the first quarter. Allianz Asset Management GmbH now owns 55,620 shares of the biopharmaceutical company’s stock worth $1,619,000 after purchasing an additional 5,120 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. SVB Leerink boosted their price objective on shares of Agios Pharmaceuticals from $33.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday. The Goldman Sachs Group decreased their price objective on shares of Agios Pharmaceuticals from $20.00 to $16.00 and set a “sell” rating on the stock in a research report on Tuesday, May 24th. Two investment analysts have rated the stock with a sell rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.14.

About Agios Pharmaceuticals

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Agios Pharmaceuticals, Inc, a biopharmaceutical company, engages in the discovery and development of medicines in the field of cellular metabolism and adjacent areas of biology. The company offers PYRUKYND (mitapivat) an activator of both wild-type and a variety of mutant pyruvate kinase, PK, enzymes for the treatment of hemolytic anemias; and AG-946 that is in Phase I clinical study for treating hemolytic anemias and other indications.

Further Reading

Earnings History for Agios Pharmaceuticals (NASDAQ:AGIO)

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