Intrinsic value of Agios Pharmaceuticals - AGIO

Previous Close

$58.17

  Intrinsic Value

$2.21

stock screener

  Rating & Target

str. sell

-96%

  Value-price divergence*

-68%

Previous close

$58.17

 
Intrinsic value

$2.21

 
Up/down potential

-96%

 
Rating

str. sell

 
Value-price divergence*

-68%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of AGIO stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.4

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  18.64
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  70
  71
  73
  75
  77
  79
  82
  85
  88
  91
  94
  98
  102
  106
  111
  116
  121
  126
  132
  138
  144
  151
  158
  165
  173
  181
  190
  199
  209
  219
  230
Variable operating expenses, $m
 
  215
  220
  226
  232
  239
  247
  255
  264
  274
  285
  296
  308
  321
  334
  349
  364
  380
  397
  416
  435
  455
  476
  498
  522
  547
  573
  601
  630
  660
  692
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  271
  215
  220
  226
  232
  239
  247
  255
  264
  274
  285
  296
  308
  321
  334
  349
  364
  380
  397
  416
  435
  455
  476
  498
  522
  547
  573
  601
  630
  660
  692
Operating income, $m
  -201
  -144
  -147
  -151
  -155
  -160
  -165
  -171
  -177
  -183
  -190
  -198
  -206
  -214
  -223
  -233
  -243
  -254
  -266
  -278
  -290
  -304
  -318
  -333
  -349
  -365
  -383
  -401
  -421
  -441
  -462
EBITDA, $m
  -195
  -141
  -145
  -148
  -152
  -157
  -162
  -168
  -174
  -180
  -187
  -194
  -202
  -211
  -220
  -229
  -239
  -250
  -261
  -273
  -285
  -299
  -313
  -327
  -343
  -359
  -376
  -394
  -413
  -433
  -454
Interest expense (income), $m
  0
  0
  -1
  -1
  0
  0
  0
  0
  1
  1
  2
  2
  2
  3
  3
  4
  4
  5
  6
  6
  7
  8
  9
  9
  10
  11
  12
  13
  14
  15
  17
Earnings before tax, $m
  -198
  -144
  -146
  -150
  -155
  -160
  -165
  -171
  -178
  -184
  -192
  -200
  -208
  -217
  -227
  -237
  -248
  -259
  -271
  -284
  -297
  -312
  -327
  -342
  -359
  -377
  -395
  -414
  -435
  -456
  -479
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -198
  -144
  -146
  -150
  -155
  -160
  -165
  -171
  -178
  -184
  -192
  -200
  -208
  -217
  -227
  -237
  -248
  -259
  -271
  -284
  -297
  -312
  -327
  -342
  -359
  -377
  -395
  -414
  -435
  -456
  -479

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  541
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  619
  265
  272
  279
  286
  295
  305
  315
  326
  338
  351
  365
  380
  396
  412
  430
  449
  469
  490
  512
  536
  561
  587
  615
  644
  674
  707
  741
  776
  814
  854
Adjusted assets (=assets-cash), $m
  78
  265
  272
  279
  286
  295
  305
  315
  326
  338
  351
  365
  380
  396
  412
  430
  449
  469
  490
  512
  536
  561
  587
  615
  644
  674
  707
  741
  776
  814
  854
Revenue / Adjusted assets
  0.897
  0.268
  0.268
  0.269
  0.269
  0.268
  0.269
  0.270
  0.270
  0.269
  0.268
  0.268
  0.268
  0.268
  0.269
  0.270
  0.269
  0.269
  0.269
  0.270
  0.269
  0.269
  0.269
  0.268
  0.269
  0.269
  0.269
  0.269
  0.269
  0.269
  0.269
Average production assets, $m
  25
  25
  26
  26
  27
  28
  29
  30
  31
  32
  33
  34
  36
  37
  39
  41
  42
  44
  46
  48
  50
  53
  55
  58
  61
  64
  67
  70
  73
  77
  80
Working capital, $m
  472
  -7
  -7
  -7
  -8
  -8
  -8
  -8
  -9
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -13
  -14
  -14
  -15
  -16
  -17
  -17
  -18
  -19
  -20
  -21
  -22
  -23
Total debt, $m
  0
  -21
  -16
  -9
  -2
  6
  14
  23
  34
  44
  56
  69
  82
  96
  111
  127
  144
  162
  181
  201
  222
  245
  268
  293
  319
  347
  376
  407
  439
  473
  508
Total liabilities, $m
  261
  239
  244
  251
  258
  266
  274
  283
  294
  304
  316
  329
  342
  356
  371
  387
  404
  422
  441
  461
  482
  505
  528
  553
  579
  607
  636
  667
  699
  733
  768
Total equity, $m
  359
  27
  27
  28
  29
  30
  30
  31
  33
  34
  35
  37
  38
  40
  41
  43
  45
  47
  49
  51
  54
  56
  59
  61
  64
  67
  71
  74
  78
  81
  85
Total liabilities and equity, $m
  620
  266
  271
  279
  287
  296
  304
  314
  327
  338
  351
  366
  380
  396
  412
  430
  449
  469
  490
  512
  536
  561
  587
  614
  643
  674
  707
  741
  777
  814
  853
Debt-to-equity ratio
  0.000
  -0.800
  -0.580
  -0.340
  -0.080
  0.190
  0.460
  0.740
  1.030
  1.310
  1.600
  1.880
  2.160
  2.430
  2.700
  2.960
  3.210
  3.460
  3.700
  3.930
  4.150
  4.360
  4.570
  4.770
  4.960
  5.150
  5.320
  5.490
  5.650
  5.810
  5.950
Adjusted equity ratio
  -2.333
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -198
  -144
  -146
  -150
  -155
  -160
  -165
  -171
  -178
  -184
  -192
  -200
  -208
  -217
  -227
  -237
  -248
  -259
  -271
  -284
  -297
  -312
  -327
  -342
  -359
  -377
  -395
  -414
  -435
  -456
  -479
Depreciation, amort., depletion, $m
  6
  2
  3
  3
  3
  3
  3
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
  4
  5
  5
  5
  5
  6
  6
  6
  6
  7
  7
  7
  8
  8
Funds from operations, $m
  226
  -141
  -144
  -148
  -152
  -157
  -162
  -168
  -174
  -181
  -189
  -196
  -205
  -214
  -223
  -233
  -244
  -255
  -267
  -279
  -292
  -306
  -321
  -337
  -353
  -370
  -388
  -407
  -428
  -449
  -471
Change in working capital, $m
  187
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
Cash from operations, $m
  39
  -141
  -144
  -148
  -152
  -157
  -162
  -168
  -174
  -181
  -188
  -196
  -204
  -213
  -222
  -232
  -243
  -254
  -266
  -279
  -292
  -306
  -320
  -336
  -352
  -369
  -388
  -407
  -427
  -448
  -470
Maintenance CAPEX, $m
  0
  -2
  -2
  -3
  -3
  -3
  -3
  -3
  -3
  -3
  -3
  -3
  -3
  -4
  -4
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
New CAPEX, $m
  -10
  0
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -3
  -3
  -3
  -3
  -3
  -3
  -4
  -4
Cash from investing activities, $m
  -119
  -2
  -3
  -4
  -4
  -4
  -4
  -4
  -4
  -4
  -4
  -4
  -4
  -5
  -6
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -7
  -9
  -9
  -9
  -9
  -10
  -10
  -11
  -12
Free cash flow, $m
  -80
  -144
  -147
  -151
  -155
  -160
  -166
  -172
  -178
  -185
  -193
  -201
  -209
  -218
  -228
  -238
  -249
  -260
  -272
  -285
  -299
  -313
  -328
  -344
  -361
  -378
  -397
  -416
  -437
  -459
  -481
Issuance/(repayment) of debt, $m
  0
  -21
  5
  6
  7
  8
  9
  9
  10
  11
  12
  12
  13
  14
  15
  16
  17
  18
  19
  20
  21
  22
  24
  25
  26
  28
  29
  31
  32
  34
  36
Issuance/(repurchase) of shares, $m
  170
  170
  147
  151
  156
  161
  166
  172
  179
  186
  193
  201
  210
  219
  229
  239
  250
  261
  273
  286
  300
  314
  329
  345
  362
  380
  398
  418
  438
  460
  483
Cash from financing (excl. dividends), $m  
  170
  149
  152
  157
  163
  169
  175
  181
  189
  197
  205
  213
  223
  233
  244
  255
  267
  279
  292
  306
  321
  336
  353
  370
  388
  408
  427
  449
  470
  494
  519
Total cash flow (excl. dividends), $m
  89
  5
  6
  7
  7
  8
  9
  10
  11
  11
  12
  13
  14
  15
  16
  17
  18
  19
  20
  21
  22
  23
  25
  26
  27
  29
  30
  32
  34
  35
  37
Retained Cash Flow (-), $m
  -14
  -170
  -147
  -151
  -156
  -161
  -166
  -172
  -179
  -186
  -193
  -201
  -210
  -219
  -229
  -239
  -250
  -261
  -273
  -286
  -300
  -314
  -329
  -345
  -362
  -380
  -398
  -418
  -438
  -460
  -483
Prev. year cash balance distribution, $m
 
  359
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  194
  -141
  -144
  -148
  -152
  -157
  -162
  -168
  -174
  -181
  -188
  -196
  -204
  -213
  -222
  -232
  -242
  -253
  -265
  -278
  -291
  -305
  -319
  -335
  -351
  -368
  -386
  -405
  -425
  -446
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  186
  -129
  -126
  -122
  -118
  -114
  -110
  -105
  -100
  -95
  -89
  -84
  -78
  -71
  -65
  -59
  -53
  -47
  -41
  -35
  -30
  -25
  -21
  -17
  -14
  -11
  -8
  -6
  -5
  -3
Current shareholders' claim on cash, %
  100
  50.0
  27.1
  14.7
  8.0
  4.3
  2.3
  1.2
  0.7
  0.4
  0.2
  0.1
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

Agios Pharmaceuticals, Inc., a biopharmaceutical company, engages in the discovery and development of medicines for the treatment of cancer and rare genetic metabolic disorders in the United States. It is developing Enasidenib, a potent inhibitor of the mutated isocitrate dehydrogenase (IDH) 2 protein that is in Phase 1/2 clinical trial for patients with advanced hematologic malignancies with an IDH 2 mutation; Phase 3 clinical trial for patients with IDH2 mutant-positive acute myeloid leukemia (AML); Phase 1b frontline combination trial for patients with newly diagnosed AML with an IDH2 or IDH1 mutation; and Phase 1/2 frontline combination trial for patients with newly diagnosed AML. The company is also developing Ivosidenib, a potent inhibitor of the mutated IDH1 protein, which is in Phase 1 clinical trial for patients with advanced hematologic malignancies with an IDH1 mutation; Phase 1 clinical trial for advanced solid tumors; Phase 3 clinical trial for patients with nonresectable or metastatic cholangiocarcinoma with an IDH1 mutation; Phase 1b frontline combination trial for patients with newly diagnosed AML with an IDH2 or IDH1 mutation; and Phase 1/2 frontline combination and Phase 3 clinical trials for newly diagnosed AML patients. In addition, it is developing AG-881, a pan-IDH mutant inhibitor that is in Phase 1 clinical trials for the treatment of hematologic malignancies and solid tumors; and AG-348, a small molecule potent activator that is in Phase 2 clinical trial for the treatment of pyruvate kinase deficiency. It has a collaboration and license agreement with Celgene Corporation to discover, develop, and commercialize disease-altering therapies in oncology; and Celgene International II Sarl to develop and commercialize AG-881 products. The company was founded in 2007 and is headquartered in Cambridge, Massachusetts.

FINANCIAL RATIOS  of  Agios Pharmaceuticals (AGIO)

Valuation Ratios
P/E Ratio -12.4
Price to Sales 35.1
Price to Book 6.8
Price to Tangible Book
Price to Cash Flow 63
Price to Free Cash Flow 84.7
Growth Rates
Sales Growth Rate 18.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -50%
Cap. Spend. - 3 Yr. Gr. Rate 58.5%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets -38.1%
Ret/ On Assets - 3 Yr. Avg. -26.5%
Return On Total Capital -56.3%
Ret/ On T. Cap. - 3 Yr. Avg. -35.5%
Return On Equity -56.3%
Return On Equity - 3 Yr. Avg. -35.5%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin -274.3%
EBITDA Margin - 3 Yr. Avg. -183.6%
Operating Margin -287.1%
Oper. Margin - 3 Yr. Avg. -190.6%
Pre-Tax Margin -282.9%
Pre-Tax Margin - 3 Yr. Avg. -188.6%
Net Profit Margin -282.9%
Net Profit Margin - 3 Yr. Avg. -188.6%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

AGIO stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the AGIO stock intrinsic value calculation we used $70 million for the last fiscal year's total revenue generated by Agios Pharmaceuticals. The default revenue input number comes from 2016 income statement of Agios Pharmaceuticals. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our AGIO stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for AGIO is calculated based on our internal credit rating of Agios Pharmaceuticals, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Agios Pharmaceuticals.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of AGIO stock the variable cost ratio is equal to 301.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for AGIO stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Agios Pharmaceuticals.

Corporate tax rate of 27% is the nominal tax rate for Agios Pharmaceuticals. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the AGIO stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for AGIO are equal to 35%.

Life of production assets of 10 years is the average useful life of capital assets used in Agios Pharmaceuticals operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for AGIO is equal to -10%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $359 million for Agios Pharmaceuticals - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 40.588 million for Agios Pharmaceuticals is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Agios Pharmaceuticals at the current share price and the inputted number of shares is $2.4 billion.

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COMPANY NEWS

▶ Agios Pharmaceuticals reports 2Q loss   [Aug-08-17 10:23PM  Associated Press]
▶ This Small Biotech Launched To A 9-Month High Today Here's Why   [Aug-02-17 04:07PM  Investor's Business Daily]
▶ Biotech Rally Stumbles As These Small Caps Pull Back   [Jun-26-17 04:10PM  Investor's Business Daily]
▶ Agio Pharma Sinks on Midstage Trial   [11:05AM  24/7 Wall St.]
▶ Agios Pharmaceuticals reports 1Q loss   [08:01AM  Associated Press]
▶ The 1 Stock I'd Buy Right Now   [Apr-26-17 08:04AM  Motley Fool]
▶ Agios Announces Closing of Public Offering   [Apr-24-17 04:01PM  GlobeNewswire]
▶ Agios Announces Proposed Offering of Common Stock   [Apr-17-17 04:01PM  GlobeNewswire]
▶ Biotechs Among 5 Stocks Setting Up for Major Breakouts   [Mar-12-17 02:40PM  TheStreet.com]
▶ Agios Pharmaceuticals 4Q Loss $1.48 Per Share   [Feb-17-17 12:30PM  at Investopedia]
▶ Why Agios Pharmaceuticals Sank 34.4% in 2016   [Jan-10-17 02:23PM  at Motley Fool]
▶ Shire, Agios add former Genentech CEO as board member   [Jan-03-17 03:00PM  at bizjournals.com]
Stock chart of AGIO Financial statements of AGIO
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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