NEW YORK, NY / ACCESSWIRE / November 3, 2017 / Shares of both Exelixis and Agios Pharmaceuticals closed higher on Thursday. Exelixis' shares soared after the company reported better than expected third-quarter earnings. The same story went for Agios, who easily beat on both the top and bottom line.

RDI Initiates Coverage on:

Exelixis, Inc.
https://rdinvesting.com/news/?ticker=EXEL

Agios Pharmaceuticals, Inc.
https://rdinvesting.com/news/?ticker=AGIO

Exelixis, Inc.'s shares closed up 5.32% on Thursday with nearly 5.8 million shares traded. The stock was flying as much as 10% during intra-day trading yesterday after the company reported better-than-expected third-quarter earnings results late Wednesday. For the quarter, revenue came in at $152.5 million. This was significantly high compared to the $62.2 million reported in the year-ago period. It also easily beat the $104.4 million estimate that analysts had. Wall Street is paying close attention to the company whose lead drug is Cabometyx, which was approved by the FDA in tablet formulation in April of 2016. It is used in the treatment of advanced renal cell carcinoma (RCC) in patients who have received prior anti-angiogenic therapy. The company's revenue got a boost from increased Cabometyx sales which included more than $90 million in net sales.

Access RDI's Exelixis, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=EXEL

Agios Pharmaceuticals, Inc.'s shares closed up 3.68% on higher volume than usual on Thursday. The company posted its third quarter financial results that had a loss that was narrower than what the Street was looking for. A net loss of $1.59 per share was better than the $1.74 that analysts expected. It was also better than the loss of $1.63 from the year-ago quarter. Revenue at $11.4 million was also higher than the $11 million that the Street expected. So far this year, shares of the stock have rallied nearly 54%. It was in August that Agios announced that the FDA has granted approval to it and its partner's Celgene's lead candidate idhifa. Idhifa is used to treat patients with relapsed or refractory acute myeloid leukemia ("AML") with an isocitrate dehydrogenase-2 (IDH2) mutation.

Access RDI's Agios Pharmaceuticals, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=AGIO

Our Actionable Research on Exelixis, Inc. (NASDAQ: EXEL) and Agios Pharmaceuticals, Inc. (NASDAQ: AGIO) can be downloaded free of charge at Research Driven Investing.

Research Driven Investing

We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.

RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.

Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Nadia Noorani, CFA® charter holder. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

CONTACT

For any questions, inquiries, or comments reach out to us directly at:

Address:

Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011

Email:

contact@rdinvesting.com

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: RDInvesting.com