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Why Is Agenus (AGEN) Down 11.8% Since the Last Earnings Report?

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About a month has gone by since the last earnings report for Agenus Inc. (AGEN - Free Report) . Shares have lost about 11.8% 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 Q2 Loss Narrower Than Expected, Revenues Lag

Agenus incurred second-quarter 2017 loss of $0.32 per share, narrower than the Zacks Consensus Estimate of a loss of $0.36 and the year-ago loss of $0.33.

Revenues were $4.2 million and missed the Zacks Consensus Estimate of $6 million. Also, the top line was down from $6.6 million in the year-ago quarter.

Quarterly Highlights

Agenus' second-quarter research and development (R&D) expenses were up 15.5% to $25.8 million. General and administrative expenses were also up 14.3% to $8.1 million.

Pipeline Update

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

Also, 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. A decision is expected in the second half of this year.

How Have Estimates Been Moving Since Then?

Analysts were quiet during the past month 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 a subpar Growth Score of D, however its Momentum is doing a bit better with a C. However, the stock was allocated a grade of F on the value side, putting it in the bottom 20% 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 momentum 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.




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