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Why Is Agenus (AGEN) Up 11.6% Since Last Earnings Report?

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It has been about a month since the last earnings report for Agenus (AGEN - Free Report) . Shares have added about 11.6% in that time frame, outperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is Agenus due for a pullback? 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' Q3 Loss Wider Than Expected, Revenues Beat

Agenus reported third-quarter 2018 adjusted loss of 29 cents per share, wider than the Zacks Consensus Estimate of a loss of 25 cents but narrower than the year-ago loss of 37 cents.

The company generated revenues of $13 million, which include milestone achievements and non-cash royalties earned compared with $3 million in the year-ago quarter. Revenues beat the Zacks Consensus Estimate of $11 million.

Quarterly Highlights

Agenus’ third-quarter research and development (R&D) expenses increased 15.8% to $29.9 million. General and administrative expenses increased 14.3% to $9.2 million.

Pipeline Update

Agenus is progressing well with various pipeline candidates. The company is advancing its proprietary CTLA-4 and PD-1 programs in three studies designed to take advantage of accelerated pathways. Agenus targets a biologics license application (BLA) filing for accelerated approval as early as 2020.

The company filed four investigational new drugs (INDs) in 2018, including next-gen CTLA-4, AGEN1181, which is designed to deplete cancer-prone Tregs and improve T-cell priming. Two additional INDs will be filed by the end of 2018.

How Have Estimates Been Moving Since Then?

In the past month, investors have witnessed an upward trend in fresh estimates. The consensus estimate has shifted 5.17% due to these changes.

VGM Scores

At this time, Agenus has a subpar Growth Score of D, a grade with the same score on the momentum front. 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.

Outlook

Estimates have been trending upward for the stock, and the magnitude of this revision looks promising. Notably, Agenus has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.




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