Agios Pharmaceuticals (NASDAQ:AGIO) Shares Up 10.2% on Better-Than-Expected Earnings

Agios Pharmaceuticals, Inc. (NASDAQ:AGIOGet Rating) shot up 10.2% on Thursday following a better than expected earnings announcement. The company traded as high as $28.00 and last traded at $27.49. 13,277 shares changed hands during trading, a decline of 98% from the average session volume of 601,750 shares. The stock had previously closed at $24.95.

The biopharmaceutical company reported ($1.68) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.78) by $0.10. The company had revenue of $5.58 million for the quarter, compared to the consensus estimate of $2.86 million. The business’s quarterly revenue was up 5482.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.36) EPS.

Analysts Set New Price Targets

Several analysts recently weighed in on AGIO shares. The Goldman Sachs Group reduced 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 note on Tuesday, May 24th. SVB Leerink boosted their price objective on shares of Agios Pharmaceuticals from $33.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.14.

Institutional Trading of Agios Pharmaceuticals

A number of institutional investors have recently bought and sold shares of AGIO. Allspring Global Investments Holdings LLC bought a new stake in Agios Pharmaceuticals during the fourth quarter valued at $1,127,000. State of New Jersey Common Pension Fund D boosted its position in Agios Pharmaceuticals by 17.0% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 73,486 shares of the biopharmaceutical company’s stock valued at $2,415,000 after acquiring an additional 10,680 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in Agios Pharmaceuticals during the fourth quarter valued at $1,126,000. Duality Advisers LP bought a new stake in Agios Pharmaceuticals during the fourth quarter valued at $1,792,000. Finally, SG Americas Securities LLC boosted its position in Agios Pharmaceuticals by 26.4% during the fourth quarter. SG Americas Securities LLC now owns 46,263 shares of the biopharmaceutical company’s stock valued at $1,521,000 after acquiring an additional 9,663 shares during the last quarter.

Agios Pharmaceuticals Trading Up 3.9 %

The stock’s 50-day simple moving average is $21.47 and its 200 day simple moving average is $25.43.

About Agios Pharmaceuticals

(Get Rating)

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

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