Today’s Research Reports on Stocks to Watch: Agios Pharmaceuticals, Inc. and Ironwood Pharmaceuticals, Inc.
Shares of both Agios Pharmaceuticals and Ironwood Pharmaceuticals saw big gains on Thursday with colossal trading volume, despite any catalyst to explain the jumps. Agios even hit a new high of $74.25 during intra-day trading.
RDI Initiates Coverage on:
Agios Pharmaceuticals, Inc.
Ironwood Pharmaceuticals, Inc.
Agios Pharmaceuticals, Inc. shares closed up 7.72% on about 1.7 million shares traded on Thursday. The stock soared to a new high of $74.25 during intra-day trading. There was no big news to explain the jump and the new high met. On Jan 8th, the company outlined its key 2018 priorities to drive long term value in a press release. It was in August of last year that the commercial stage biotech pharmaceutical company had Idhifa approved by the FDA. Idhifa for AML (acute myeloid leukemia) with certain biomarkers, is a drug that is owned by Celgene but Agios receives royalties. In 3Q17, Agios reported royalty revenues from Celgene for Idhifa of $0.7 million. The FDA had granted Idhifa approval for the treatment of adult patients who have relapsed or refractory AML (R/R AML) with an isocitrate dehydrogenase-2 (IDH2) mutation. Only 8% to 19% of AML patients have the IDH2 mutation.
Access RDI’s Agios Pharmaceuticals, Inc. Research Report at:
Ironwood Pharmaceuticals, Inc. shares closed up 9.03% on almost 2.8 million shares traded yesterday. There was no significant news from the company to explain the sudden boost in stock price. It was last month that shares of the pharmaceutical company had slipped 13.2% according to the S&P Global Market Intelligence. The company has two commercial-stage products including a IBS drug called Linzess with its partnership with Allergan. The fact that the revenue from the collaboration agreement isn’t enough to cover the company’s operating costs as well as a rival drug entering the picture had investors showing caution in December. The company posted its earnings results last November, reporting ($0.18) EPS which beat Zack’s consensus estimates of ($0.23). Revenue of $86.8 million was also higher than the $73.59 million that had been expected by analysts. Quarterly revenue had seen an increase of 31.3% from the year ago period.
Access RDI’s Ironwood Pharmaceuticals, Inc. Research Report at:
Our Actionable Research on Agios Pharmaceuticals, Inc. (NASDAQ: AGIO) and Ironwood Pharmaceuticals, Inc. (NASDAQ: IRWD) can be downloaded free of charge at Research Driven Investing.
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