$5.19 Million in Sales Expected for Agenus Inc (AGEN) This Quarter
Analysts forecast that Agenus Inc (NASDAQ:AGEN) will announce $5.19 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Agenus’ earnings, with estimates ranging from $2.9 million to $6.66 million. Agenus reported sales of $6.59 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 21.2%. The company is scheduled to report its next earnings report on Thursday, July 27th.
On average, analysts expect that Agenus will report full year sales of $5.19 million for the current financial year, with estimates ranging from $46.97 million to $66.6 million. For the next year, analysts expect that the business will post sales of $27.63 million per share, with estimates ranging from $12.75 million to $35.6 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Agenus.
Agenus (NASDAQ:AGEN) last posted its quarterly earnings results on Thursday, May 4th. The biotechnology company reported ($0.18) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.32) by $0.14. The business had revenue of $26.96 million during the quarter, compared to the consensus estimate of $5.22 million. Agenus had a negative net margin of 472.80% and a negative return on equity of 359.98%.
AGEN has been the subject of several research analyst reports. Maxim Group reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Agenus in a report on Sunday, April 23rd. HC Wainwright set a $5.00 price objective on Agenus and gave the stock a “hold” rating in a report on Thursday, February 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Agenus has a consensus rating of “Hold” and a consensus price target of $6.33.
In related news, major shareholder Corp Incyte bought 10,000,000 shares of the stock in a transaction that occurred on Tuesday, February 14th. The shares were bought at an average cost of $6.00 per share, for a total transaction of $60,000,000.00. Following the completion of the transaction, the insider now owns 17,763,968 shares of the company’s stock, valued at $106,583,808. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Garo H. Armen bought 100,000 shares of the stock in a transaction that occurred on Wednesday, April 12th. The shares were bought at an average price of $3.35 per share, for a total transaction of $335,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,389,021 shares of the company’s stock, valued at approximately $4,653,220.35. The disclosure for this purchase can be found here. Insiders own 7.60% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Compagnie Lombard Odier SCmA bought a new position in Agenus during the third quarter valued at $108,000. A.R.T. Advisors LLC bought a new position in Agenus during the fourth quarter valued at $101,000. AQR Capital Management LLC bought a new position in Agenus during the fourth quarter valued at $143,000. Quotient Investors LLC increased its position in Agenus by 8.8% in the first quarter. Quotient Investors LLC now owns 47,000 shares of the biotechnology company’s stock valued at $177,000 after buying an additional 3,800 shares during the period. Finally, First Allied Advisory Services Inc. increased its position in Agenus by 25.0% in the fourth quarter. First Allied Advisory Services Inc. now owns 50,000 shares of the biotechnology company’s stock valued at $206,000 after buying an additional 10,000 shares during the period. Institutional investors own 45.40% of the company’s stock.
Agenus (NASDAQ:AGEN) opened at 3.78 on Wednesday. The firm has a 50 day moving average of $3.64 and a 200 day moving average of $4.13. Agenus has a 1-year low of $3.20 and a 1-year high of $7.49. The firm’s market cap is $374.67 million.
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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