Back to top

Image: Bigstock

Agenus (AGEN) Down 15.7% Since Earnings Report: Can It Rebound?

Read MoreHide Full Article

It has been about a month since the last earnings report for Agenus Inc. (AGEN - Free Report) . Shares have lost about 15.7% in that time frame, underperforming the market.

Will the recent negative trend continue leading up to the stock's next earnings release, or is it due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.

Agenus Reports Narrower-than-Expected Loss in Q1

Agenus reported first-quarter 2017 loss of $0.18 per share (including non-cash expenses), narrower than the Zacks Consensus Estimate of a loss of $0.32 and the year-ago loss of $0.37. The decline was due to the accelerated milestone payment received from Incyte Corporation.

Revenues were $26.96 million and surpassed the Zacks Consensus Estimate of $5 million. Revenues were considerably up from $5.96 million in the year-ago quarter.

Quarterly Highlights

Agenus' first-quarter research and development (R&D) expenses were up 30.4% to $32.6 million. But general and administrative expenses were down 15.8% to $7.8 million.

Pipeline Update

Agenus is progressing well with the candidates in its pipeline. Currently, the company is evaluating AGEN1884 in a phase I study. It expects to report early safety and efficacy data on AGEN1884 at the upcoming ASCO conference in 2017.

Additionally, the company is evaluating INCAGN01876 in a phase I study for the treatment of solid tumors.

Notably, GlaxoSmithKline filed for regulatory approval of Shingrix vaccine which contains Agenus' QS-21 Stimulon. In fact, GSK’s shingles has been filed for regulatory approval in the US, Canada, the EU and also in Japan. The final position of the agency is expected in the second part of this year.
The company plans to initiate studies on anti-PD-1 antagonist AGEN2034 in the first half of 2017.  In addition, Agenus looks ahead to begin combination studies on AGEN2034 and AGEN1884 in the second half of the year. Already, it has initiated phase I trial for AutoSynVax in Apr 2017 and completed enrolment as well.  

How Have Estimates Been Moving Since Then?

Analysts were quiet during the last one month period as none of them issued any earnings estimate revisions.

Agenus Inc. Price and Consensus

 

Agenus Inc. Price and Consensus | Agenus Inc. Quote

VGM Scores

At this time, Agenus' stock has an average Growth Score of 'C', though it is lagging a bit on the momentum front with a 'D'. Charting a somewhat similar path, the stock was allocated a grade of 'F' on the value side, putting it in the lowest quintile for this investment strategy.

Overall, the stock has an aggregate VGM Score of 'F'. If you aren't focused on one strategy, this score is the one you should be interested in.

The company's stock is suitable solely for growth based on our styles scores.

Outlook

The stock has a Zacks Rank #3 (Hold). We are looking for an inline return from the stock in the next few months.


See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


Agenus Inc. (AGEN) - free report >>

Published in