Recent News
In December 2025 the FDA approved AQVESME (mitapivat) for anemia in adults with alpha- and beta-thalassemia, and Agios announced commercial launch activities with U.S. availability expected in late January 2026; topline results from the RISE UP Phase 3 sickle cell trial published in November 2025 prompted a planned pre-sNDA meeting with the FDA in Q1 2026. Agios issued a January 12, 2026 strategic update outlining 2026 priorities and anticipated pipeline readouts.
Technical Analysis
Directional indicators: ADX reads 15.96, indicating no established trend; directional indicators show recent conflict as DI+ sits at 26.53 after a peak-and-reversal while DI- sits at 20.28 following a dip-and-reversal — the pattern favors seller initiation but lacks ADX-confirmed follow-through, so near-term bias skews toward consolidation with downside vulnerability.
MACD and signal: MACD at -0.19 currently sits above the -0.34 signal line, a short-term bullish trigger; the MACD pattern registers a peak-and-reversal, however, implying momentum has begun to fade and bullish crossover may lack strength.
MRO (momentum/regression oscillator): MRO at -10.33 indicates price below the WMDST target and implies upward pressure toward fair value; the negative MRO points to potential mean reversion if commercial news accelerates revenue recognition.
RSI and momentum breadth: RSI at 47.0 with a peak-and-reversal pattern shows relative strength moved from a local high and weakened; the indicator does not signal overbought conditions but suggests upside momentum lacks conviction.
Price structure and overlays: Last close $28.16 sits above short-term averages — 20-day avg $27.97 and 50-day avg $27.26 — while remaining below the 200-day average $34.13; 12-day EMA shows a peak-and-reversal near current price. Ichimoku components place Senkou A (~$30.27) and Senkou B (~$34.12) overhead as resistive cloud levels, with Tenkan near $28.09. Bollinger upper band around $28.74 marks a nearby technical ceiling; super-trend lower support near $26.25 offers a reference-level support visible to traders.
Volume and volatility: Today’s volume (~874,600) sits slightly below the 10-day average (~913,200) and well below the 50-day average (~1,852,400), indicating recent moves lack broad participation. 42-day volatility around 4% signals contained price swings versus historical variance.
Fundamental Analysis
Profitability and margins: Trailing operating (EBIT) stands at -$116,869,000 with an operating/EBIT margin of -9.07%. That margin reads below the industry peer mean of -0.92% and falls inside the industry peer range (low -81.40% to high 32.71%), reflecting ongoing investment and commercial scale-up ahead of sustained product revenues.
Revenue and growth: Reported total revenue equals $12,880,000. Year-over-year revenue growth registers -15.77%, while the broader revenue-growth metric shows a modest positive figure; quarter-over-quarter revenue movement shows a sharp contraction, reflecting timing effects around product launches and channel stocking ahead of U.S. commercialization.
Liquidity and balance sheet: Cash and short-term investments total $952,860,000 and the current ratio sits at 13.82 with a cash ratio of 12.75, indicating ample liquidity to fund launch activities and clinical programs. Total debt remains modest at $44,515,000 versus total equity $1,284,330,000.
Cash flow and investment: Operating cash flow negative at -$88,151,000 and free cash flow -$89,706,000 reflect heavy R&D and commercialization spending; R&D expense totaled $86,796,000, underscoring continued pipeline investment even as commercial revenue begins to scale.
Earnings and market multiples: GAAP EPS of -$1.78 beat the estimate of -$1.90 by $0.12, a positive surprise of ~6.3%. P/B stands at 1.78, below the industry peer mean of 6.91. P/E remains negative (trailing P/E -22.09) owing to net losses. PS ratio reads ~177.9, a result of very low trailing revenue against market capitalization and should normalize as product sales ramp.
Valuation view: The current valuation as determined by WMDST classifies the stock as under-valued. That view ties to a large cash buffer, low leverage, and an approved, soon-to-be-commercial product that materially changes revenue runway — balanced against negative margins and negative free cash flow while the launch scales.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-09-30 |
| REPORT DATE: | 2025-10-30 |
| NEXT REPORT DATE: | 2026-01-29 |
| CASH FLOW | Begin Period Cash Flow | $ 80.9 M |
| Operating Cash Flow | $ -88.15 M | |
| Capital Expenditures | $ -1.55 M | |
| Change In Working Capital | $ -231.00 K | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 11.8 M | |
| End Period Cash Flow | $ 92.7 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 12.9 M | |
| Forward Revenue | $ 3.0 M | |
| COSTS | ||
| Cost Of Revenue | $ 1.7 M | |
| Depreciation | $ 1.4 M | |
| Depreciation and Amortization | $ 1.4 M | |
| Research and Development | $ 86.8 M | |
| Total Operating Expenses | $ 129.7 M | |
| PROFITABILITY | ||
| Gross Profit | $ 11.2 M | |
| EBITDA | $ -115.50 M | |
| EBIT | $ -116.87 M | |
| Operating Income | $ -116.87 M | |
| Interest Income | $ 13.4 M | |
| Interest Expense | — | |
| Net Interest Income | $ 13.4 M | |
| Income Before Tax | $ -103.43 M | |
| Tax Provision | — | |
| Tax Rate | — | |
| Net Income | $ -103.43 M | |
| Net Income From Continuing Operations | $ -103.43 M | |
| EARNINGS | ||
| EPS Estimate | $ -1.90 | |
| EPS Actual | $ -1.78 | |
| EPS Difference | $ 0.12 | |
| EPS Surprise | 6.316 % | |
| Forward EPS | $ -1.64 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 1.4 B | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 1.3 B | |
| Total Current Assets | $ 1.0 B | |
| Cash and Short-Term Investments | $ 952.9 M | |
| Cash | $ 92.7 M | |
| Net Receivables | $ 5.0 M | |
| Inventory | $ 32.0 M | |
| Long-Term Investments | $ 3.9 M | |
| LIABILITIES | ||
| Accounts Payable | $ 19.6 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 74.8 M | |
| Net Debt | — | |
| Total Debt | $ 44.5 M | |
| Total Liabilities | $ 101.4 M | |
| EQUITY | ||
| Total Equity | $ 1.3 B | |
| Retained Earnings | $ -453.67 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 22.04 | |
| Shares Outstanding | 58.280 M | |
| Revenue Per-Share | $ 0.22 | |
| VALUATION | Market Capitalization | $ 2.3 B |
| Enterprise Value | $ 1.4 B | |
| Enterprise Multiple | -11.975 | |
| Enterprise Multiple QoQ | 23.782 % | |
| Enterprise Multiple YoY | -20.566 % | |
| Enterprise Multiple IPRWA | high: 52.77 median: 28.451 mean: 8.535 AGIO: -11.975 low: -82.433 |
|
| EV/R | 107.376 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.079 | |
| Asset To Liability | 13.669 | |
| Debt To Capital | 0.034 | |
| Debt To Assets | 0.032 | |
| Debt To Assets QoQ | -3.078 % | |
| Debt To Assets YoY | 252.58 % | |
| Debt To Assets IPRWA | high: 1.045 mean: 0.239 median: 0.181 AGIO: 0.032 low: 0.0 |
|
| Debt To Equity | 0.035 | |
| Debt To Equity QoQ | -2.64 % | |
| Debt To Equity YoY | 245.563 % | |
| Debt To Equity IPRWA | high: 1.461 mean: 0.341 median: 0.106 AGIO: 0.035 low: -0.897 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.784 | |
| Price To Book QoQ | 15.959 % | |
| Price To Book YoY | 15.254 % | |
| Price To Book IPRWA | high: 17.968 mean: 6.913 median: 6.057 AGIO: 1.784 low: -8.555 |
|
| Price To Earnings (P/E) | -22.088 | |
| Price To Earnings QoQ | 20.921 % | |
| Price To Earnings YoY | 21.044 % | |
| Price To Earnings IPRWA | high: 56.753 median: 30.96 mean: 4.896 AGIO: -22.088 low: -93.179 |
|
| PE/G Ratio | 2.842 | |
| Price To Sales (P/S) | 177.899 | |
| Price To Sales QoQ | 5.155 % | |
| Price To Sales YoY | -36.669 % | |
| Price To Sales IPRWA | high: 1040.421 AGIO: 177.899 mean: 64.52 median: 18.442 low: 0.466 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | -24.191 | |
| Forward PE/G | 3.113 | |
| Forward P/S | 830.867 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -2.35 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.009 | |
| Asset Turnover Ratio QoQ | 9.599 % | |
| Asset Turnover Ratio YoY | 29.041 % | |
| Asset Turnover Ratio IPRWA | high: 0.438 mean: 0.12 median: 0.107 AGIO: 0.009 low: -0.004 |
|
| Receivables Turnover | 2.572 | |
| Receivables Turnover Ratio QoQ | -13.987 % | |
| Receivables Turnover Ratio YoY | -1.292 % | |
| Receivables Turnover Ratio IPRWA | high: 6.279 AGIO: 2.572 median: 1.573 mean: 1.471 low: -0.057 |
|
| Inventory Turnover | 0.053 | |
| Inventory Turnover Ratio QoQ | -5.168 % | |
| Inventory Turnover Ratio YoY | 71.759 % | |
| Inventory Turnover Ratio IPRWA | high: 2.722 mean: 0.644 median: 0.477 AGIO: 0.053 low: -0.015 |
|
| Days Sales Outstanding (DSO) | 35.476 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 727.009 | |
| Cash Conversion Cycle Days QoQ | -42.218 % | |
| Cash Conversion Cycle Days YoY | -2.11 % | |
| Cash Conversion Cycle Days IPRWA | high: 1241.621 AGIO: 727.009 median: 189.366 mean: 174.053 low: -1809.09 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.013 | |
| CapEx To Revenue | -0.121 | |
| CapEx To Depreciation | -1.132 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 1.3 B | |
| Net Invested Capital | $ 1.3 B | |
| Invested Capital | $ 1.3 B | |
| Net Tangible Assets | $ 1.3 B | |
| Net Working Capital | $ 958.4 M | |
| LIQUIDITY | ||
| Cash Ratio | 12.746 | |
| Current Ratio | 13.82 | |
| Current Ratio QoQ | -4.554 % | |
| Current Ratio YoY | 53.675 % | |
| Current Ratio IPRWA | high: 25.502 AGIO: 13.82 mean: 4.033 median: 2.865 low: 0.02 |
|
| Quick Ratio | 13.391 | |
| Quick Ratio QoQ | -4.628 % | |
| Quick Ratio YoY | 52.666 % | |
| Quick Ratio IPRWA | AGIO: 13.391 high: 13.332 mean: 2.53 median: 1.998 low: 0.02 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | -0.385 | |
| Cost Of Debt | 0.02 % | |
| Interest Coverage Ratio | -11686.9 | |
| Interest Coverage Ratio QoQ | -8.018 % | |
| Interest Coverage Ratio YoY | 13.674 % | |
| Interest Coverage Ratio IPRWA | high: 815.709 mean: 37.749 median: 6.583 low: -1337.523 AGIO: -11686.9 |
|
| Operating Cash Flow Ratio | -1.355 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 994.126 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -5.814 % | |
| Revenue Growth | 3.412 % | |
| Revenue Growth QoQ | -92.016 % | |
| Revenue Growth YoY | -15.774 % | |
| Revenue Growth IPRWA | high: 301.849 % mean: 8.179 % median: 4.118 % AGIO: 3.412 % low: -259.856 % |
|
| Earnings Growth | -7.772 % | |
| Earnings Growth QoQ | -131.702 % | |
| Earnings Growth YoY | -117.993 % | |
| Earnings Growth IPRWA | high: 162.5 % median: -6.312 % AGIO: -7.772 % mean: -8.529 % low: -198.545 % |
|
| MARGINS | ||
| Gross Margin | 86.964 % | |
| Gross Margin QoQ | 0.729 % | |
| Gross Margin YoY | -4.713 % | |
| Gross Margin IPRWA | high: 105.39 % AGIO: 86.964 % median: 81.951 % mean: 79.759 % low: -35.147 % |
|
| EBIT Margin | -907.368 % | |
| EBIT Margin QoQ | -11.053 % | |
| EBIT Margin YoY | -20.887 % | |
| EBIT Margin IPRWA | high: 3270.865 % median: 42.305 % mean: -91.987 % AGIO: -907.368 % low: -8139.786 % |
|
| Return On Sales (ROS) | -907.368 % | |
| Return On Sales QoQ | -11.053 % | |
| Return On Sales YoY | -20.887 % | |
| Return On Sales IPRWA | high: 573.037 % median: 26.431 % mean: -87.995 % AGIO: -907.368 % low: -7977.249 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -89.71 M | |
| Free Cash Flow Yield | -3.915 % | |
| Free Cash Flow Yield QoQ | -6.25 % | |
| Free Cash Flow Yield YoY | 16.483 % | |
| Free Cash Flow Yield IPRWA | high: 30.655 % median: 1.086 % mean: 0.616 % AGIO: -3.915 % low: -57.887 % |
|
| Free Cash Growth | 1.94 % | |
| Free Cash Growth QoQ | -108.978 % | |
| Free Cash Growth YoY | -88.13 % | |
| Free Cash Growth IPRWA | high: 201.164 % mean: 25.341 % median: 22.832 % AGIO: 1.94 % low: -200.947 % |
|
| Free Cash To Net Income | 0.867 | |
| Cash Flow Margin | -786.234 % | |
| Cash Flow To Earnings | 0.979 | |
| VALUE & RETURNS | ||
| Economic Value Added | — | |
| Return On Assets (ROA) | -7.241 % | |
| Return On Assets QoQ | -2.175 % | |
| Return On Assets YoY | -109.796 % | |
| Return On Assets IPRWA | high: 30.5 % median: 2.42 % mean: -1.366 % AGIO: -7.241 % low: -66.968 % |
|
| Return On Capital Employed (ROCE) | -8.915 % | |
| Return On Equity (ROE) | -0.081 | |
| Return On Equity QoQ | -1.541 % | |
| Return On Equity YoY | -113.819 % | |
| Return On Equity IPRWA | high: 0.948 median: 0.047 mean: 0.013 AGIO: -0.081 low: -1.385 |
|
| DuPont ROE | -7.798 % | |
| Return On Invested Capital (ROIC) | — | |
| Return On Invested Capital QoQ | — | |
| Return On Invested Capital YoY | — | |
| Return On Invested Capital IPRWA | — | |