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Agios Pharmaceuticals (AGIO) Surges 18.6%: Is This an Indication of Further Gains?
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Agios Pharmaceuticals (AGIO - Free Report) shares ended the last trading session 18.6% higher at $29.17. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 13.5% loss over the past four weeks.
The stock rallied after the company announced that the FDA has approved Aqvesme (mitapivat) for the treatment of adult patients with alpha- or beta-thalassemia. With this approval, Aqvesme became the only FDA-approved drug for the treatment of non-transfusion-dependent and transfusion-dependent alpha- or beta-thalassemia.
This biopharmaceutical company is expected to post quarterly loss of $1.96 per share in its upcoming report, which represents a year-over-year change of -12.6%. Revenues are expected to be $11.14 million, up 3.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Agios Pharmaceuticals, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AGIO going forward to see if this recent jump can turn into more strength down the road.
Agios Pharmaceuticals is part of the Zacks Medical - Biomedical and Genetics industry. Enanta Pharmaceuticals (ENTA - Free Report) , another stock in the same industry, closed the last trading session 5.7% higher at $16.6. ENTA has returned 15% in the past month.
Enanta Pharmaceuticals' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.54. Compared to the company's year-ago EPS, this represents a change of +48.6%. Enanta Pharmaceuticals currently boasts a Zacks Rank of #3 (Hold).
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Agios Pharmaceuticals (AGIO) Surges 18.6%: Is This an Indication of Further Gains?
Agios Pharmaceuticals (AGIO - Free Report) shares ended the last trading session 18.6% higher at $29.17. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 13.5% loss over the past four weeks.
The stock rallied after the company announced that the FDA has approved Aqvesme (mitapivat) for the treatment of adult patients with alpha- or beta-thalassemia. With this approval, Aqvesme became the only FDA-approved drug for the treatment of non-transfusion-dependent and transfusion-dependent alpha- or beta-thalassemia.
This biopharmaceutical company is expected to post quarterly loss of $1.96 per share in its upcoming report, which represents a year-over-year change of -12.6%. Revenues are expected to be $11.14 million, up 3.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Agios Pharmaceuticals, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AGIO going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Agios Pharmaceuticals is part of the Zacks Medical - Biomedical and Genetics industry. Enanta Pharmaceuticals (ENTA - Free Report) , another stock in the same industry, closed the last trading session 5.7% higher at $16.6. ENTA has returned 15% in the past month.
Enanta Pharmaceuticals' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.54. Compared to the company's year-ago EPS, this represents a change of +48.6%. Enanta Pharmaceuticals currently boasts a Zacks Rank of #3 (Hold).