Agios Pharmaceuticals (NASDAQ:AGIO) Announces Earnings Results

Agios Pharmaceuticals (NASDAQ:AGIO – Get Rating) announced its quarterly earnings data on Thursday. The biopharmaceutical company reported ($1.68) earnings per share (EPS) 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 analyst estimates of $2.86 million. During the same period in the prior year, the firm earned ($1.36) EPS. The business’s revenue for the quarter was up 5482.0% on a year-over-year basis.

Agios Pharmaceuticals Price Performance

Shares of AGIO traded up $1.13 during trading hours on Friday, reaching $29.74. The company’s stock had a trading volume of 1,056,422 shares, compared to its average volume of 612,872. The company has a 50 day moving average of $21.47 and a two-hundred day moving average of $25.43. Agios Pharmaceuticals has a 1-year low of $16.75 and a 1-year high of $50.98.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Agios Pharmaceuticals by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,085,814 shares of the biopharmaceutical company’s stock valued at $148,048,000 after acquiring an additional 17,224 shares in the last quarter. State Street Corp boosted its position in Agios Pharmaceuticals by 6.5% during the first quarter. State Street Corp now owns 3,186,513 shares of the biopharmaceutical company’s stock valued at $92,759,000 after purchasing an additional 193,631 shares during the last quarter. First Trust Advisors LP grew its stake in Agios Pharmaceuticals by 27.2% in 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 purchasing an additional 344,959 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Agios Pharmaceuticals by 39.3% in the 1st 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 last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Agios Pharmaceuticals by 2.5% during the 1st 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 in the last quarter.

Analyst Upgrades and Downgrades

AGIO has been the topic of several research reports. The Goldman Sachs Group dropped their price target on Agios Pharmaceuticals from $20.00 to $16.00 and set a “sell” rating on the stock in a report on Tuesday, May 24th. SVB Leerink lifted their price target on Agios Pharmaceuticals from $33.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday. Two analysts have rated the stock with a sell rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.