|Agios Pharmaceuticals Inc. (NASDAQ:AGIO) Shares Fall 10% On Weak fourth quarter Earnings|
|By Josh Gee|
|Tuesday, 17 February 2015 15:53|
Shares of Agios Pharmaceuticals Inc. (NASDAQ:AGIO) are down $10 or $8.30% to $108.60 on hefty volume after the company posted a worse than expected fourth quarter results this morning.
The company on Tuesday posted a net loss of $26.7 million in its latest quarter. The Cambridge, Massachusetts-based company said it had a loss of 76 cents a share.
The results missed the Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for a loss of 55 cents per share.
The biopharmaceutical company reported revenue of $14.6 million in the period, surpassing Street forecasts. Analysts expected $11.6 million, according to Zacks.
For the year, the company reported that its loss jumped to $53.5 million, or $1.59 per share. Revenue was reported as $65.4 million.
Shares of the company are down 2% so far this year. Over the past one year, the stock has been trading within a range of $28.81 and $138.85. Over the past one year, shares of the company have outperformed the wider market and jumped 240%.
Agios Pharmaceuticals, Inc. is a biopharmaceutical company. The Company is intend to apply its deep understanding of metabolism, coupled with the Company’s ability to create medicines that can inhibit or activate metabolic enzymes, to fundamentally change the way cancer and inborn errors of metabolism (IEMs) are treated. The Company has identified and validated novel and druggable targets in both cancer and IEMs.