Agenus (NASDAQ:AGEN) Announces Earnings Results, Beats Expectations By $0.30 EPS

Agenus (NASDAQ:AGEN) issued its quarterly earnings results on Thursday. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.30, FiscalAI reports. The company had revenue of $31.49 million during the quarter, compared to the consensus estimate of $28.20 million. Agenus had a negative return on equity of 47.68% and a net margin of 69.33%.

Here are the key takeaways from Agenus’ conference call:

• Agenus said botensilimab (BOT) and balstilimab (BAL) are designed to activate immune responses in “cold” tumors. In early studies, the company reported activity across several cancer types, including a 21% response rate in metastatic colorectal cancer patients without active liver metastases.
• Early neoadjuvant studies in MSS colorectal cancer showed promising tumor responses: Agenus cited a 30% pathologic complete response rate in one study and said no patients treated with the combination had recurred at reported follow-up. These are early, relatively small studies and do not establish that the results will be replicated in a larger trial.
• The company plans an 850-patient Phase III trial, ROBIN, comparing BOT/BAL before surgery with standard care for high-risk stage II and stage III colon cancer. Agenus expects the regimen could improve event-free survival while reducing chemotherapy use, including exposure to oxaliplatin-related neuropathy.
• ROBIN’s key efficacy readouts remain years away: Agenus projected an interim event-free-survival analysis in the second half of 2029 and a full readout in the second half of 2030. The company’s potential additional $255 million in warrant proceeds depends on investor exercise, with the tranches tied to enrollment and interim response milestones.

Agenus Trading Down 7.7%

Shares of AGEN stock traded down $0.54 on Thursday, reaching $6.43. 1,331,161 shares of the company’s stock were exchanged, compared to its average volume of 750,980. The company’s fifty day simple moving average is $7.47 and its 200 day simple moving average is $4.99. Agenus has a 52 week low of $2.71 and a 52 week high of $10.31. The stock has a market capitalization of $290.60 million, a PE ratio of 2.49 and a beta of 1.53.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AGEN shares. HC Wainwright reissued a “buy” rating and issued a $25.00 target price (down from $30.00) on shares of Agenus in a research note on Tuesday, August 11th. Wall Street Zen cut shares of Agenus from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. B. Riley Financial reaffirmed a “buy” rating and set a $14.00 price target (up from $8.00) on shares of Agenus in a research note on Thursday, July 30th. Weiss Ratings upgraded shares of Agenus from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. Finally, Rodman & Renshaw initiated coverage on shares of Agenus in a report on Monday, September 28th. They set a “buy” rating and a $19.00 price target on the stock. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $24.50.

About Agenus

Agenus Inc is a biotechnology company focused on developing immunotherapies for the treatment of cancer. The company’s research programs are designed to activate and strengthen the immune system’s ability to recognize and attack tumors, with a focus on therapies that may be used across multiple cancer types.

Agenus develops a range of therapeutic approaches, including immune checkpoint inhibitors, cancer vaccines, bispecific antibodies and other antibody-based treatments. Its pipeline has included investigational therapies targeting immune-regulating pathways, as well as combination regimens intended to improve treatment responses and address resistance to existing cancer therapies.

The company was founded in 1994 as Antigenics and adopted the Agenus name in 2011.