Brokerages Anticipate Agenus Inc (AGEN) Will Post Quarterly Sales of $15.58 Million

Wall Street analysts expect Agenus Inc (NASDAQ:AGEN) to announce sales of $15.58 million for the current quarter, according to Zacks. Two analysts have made estimates for Agenus’ earnings. The highest sales estimate is $27.60 million and the lowest is $3.56 million. Agenus reported sales of $5.58 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 179.2%. The business is expected to announce its next quarterly earnings report on Thursday, March 8th.

On average, analysts expect that Agenus will report full-year sales of $15.58 million for the current fiscal year, with estimates ranging from $38.08 million to $62.10 million. For the next fiscal year, analysts forecast that the company will report sales of $28.53 million per share, with estimates ranging from $21.46 million to $35.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Agenus.

Agenus (NASDAQ:AGEN) last issued its quarterly earnings results on Tuesday, November 7th. The biotechnology company reported ($0.37) earnings per share for the quarter, hitting the consensus estimate of ($0.37). The business had revenue of $3.40 million during the quarter, compared to analysts’ expectations of $5.91 million. The company’s revenue for the quarter was down 24.4% compared to the same quarter last year.

AGEN has been the topic of several research reports. BidaskClub downgraded Agenus from a “sell” rating to a “strong sell” rating in a report on Wednesday, January 3rd. ValuEngine downgraded Agenus from a “sell” rating to a “strong sell” rating in a report on Friday, December 29th. Finally, Zacks Investment Research upgraded Agenus from a “hold” rating to a “buy” rating and set a $4.25 price objective on the stock in a report on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $5.81.

Shares of Agenus (NASDAQ:AGEN) traded down $0.01 during midday trading on Monday, hitting $3.51. The stock had a trading volume of 552,100 shares, compared to its average volume of 786,125. The company has a debt-to-equity ratio of -2.39, a quick ratio of 1.55 and a current ratio of 1.55. Agenus has a 12-month low of $3.20 and a 12-month high of $5.45. The stock has a market capitalization of $322.17, a P/E ratio of -3.00 and a beta of 2.11.

In related news, CEO Garo H. Armen purchased 100,000 shares of the business’s stock in a transaction dated Monday, October 30th. The shares were acquired at an average cost of $3.55 per share, for a total transaction of $355,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Karen Valentine sold 8,358 shares of Agenus stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $3.46, for a total value of $28,918.68. Following the completion of the transaction, the insider now owns 109,879 shares in the company, valued at $380,181.34. The disclosure for this sale can be found here. Insiders sold a total of 20,514 shares of company stock worth $70,978 over the last quarter. Company insiders own 7.90% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC acquired a new stake in shares of Agenus in the 3rd quarter worth $134,000. OxFORD Asset Management LLP acquired a new stake in shares of Agenus in the 2nd quarter worth $141,000. Voya Investment Management LLC boosted its position in shares of Agenus by 18.5% in the 2nd quarter. Voya Investment Management LLC now owns 40,855 shares of the biotechnology company’s stock worth $160,000 after purchasing an additional 6,381 shares in the last quarter. State of Wisconsin Investment Board acquired a new stake in shares of Agenus in the 2nd quarter worth $207,000. Finally, Highbridge Capital Management LLC boosted its position in shares of Agenus by 242.8% in the 3rd quarter. Highbridge Capital Management LLC now owns 56,642 shares of the biotechnology company’s stock worth $249,000 after purchasing an additional 40,118 shares in the last quarter. 37.87% of the stock is owned by hedge funds and other institutional investors.

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Agenus Company Profile

Agenus Inc (Agenus) is an immuno-oncology (I-O) company. The Company focuses on the discovery and development of therapies that engage the body’s immune system to fight cancer. It is developing a I-O portfolio driven by platforms and programs, such as antibody discovery platforms, including Retrocyte Display, SECANT yeast display and phage display technologies designed to produce human antibodies; antibody candidate programs, including checkpoint modulator (CPM) programs; vaccine programs, including Prophage, AutoSynVax and PhosPhoSynVax, and saponin-based vaccine adjuvants, principally QS-21 Stimulon adjuvant (QS-21 Stimulon).

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