B. Riley Has Pessimistic Outlook of Agenus FY2024 Earnings

Agenus Inc. (NASDAQ:AGEN) – Investment analysts at B. Riley decreased their FY2024 earnings estimates for Agenus in a research note issued to investors on Monday, November 18th. B. Riley analyst M. Mamtani now expects that the biotechnology company will post earnings per share of ($10.51) for the year, down from their prior estimate of ($6.27). B. Riley has a “Buy” rating and a $18.00 price target on the stock. The consensus estimate for Agenus’ current full-year earnings is ($12.93) per share. B. Riley also issued estimates for Agenus’ Q4 2024 earnings at ($1.56) EPS, Q1 2025 earnings at ($2.13) EPS, Q2 2025 earnings at ($0.56) EPS, Q3 2025 earnings at ($1.08) EPS, Q4 2025 earnings at ($2.07) EPS, FY2025 earnings at ($5.83) EPS, FY2026 earnings at ($8.68) EPS, FY2027 earnings at ($7.86) EPS and FY2028 earnings at ($2.20) EPS.

A number of other equities analysts have also recently weighed in on AGEN. HC Wainwright dropped their price target on Agenus from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 12th. StockNews.com lowered shares of Agenus from a “hold” rating to a “sell” rating in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Agenus has an average rating of “Hold” and a consensus target price of $10.00.

Agenus Stock Up 7.1 %

Shares of NASDAQ AGEN opened at $2.86 on Wednesday. The stock’s fifty day simple moving average is $4.47 and its 200 day simple moving average is $8.42. The stock has a market capitalization of $67.10 million, a price-to-earnings ratio of -0.25 and a beta of 1.39. Agenus has a 52-week low of $2.50 and a 52-week high of $19.69.

Hedge Funds Weigh In On Agenus

Institutional investors and hedge funds have recently modified their holdings of the stock. Point72 DIFC Ltd purchased a new position in Agenus in the second quarter valued at about $51,000. EP Wealth Advisors LLC acquired a new stake in shares of Agenus during the 3rd quarter valued at about $55,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Agenus in the 2nd quarter valued at approximately $106,000. BNP Paribas Financial Markets increased its holdings in Agenus by 81.3% in the first quarter. BNP Paribas Financial Markets now owns 188,414 shares of the biotechnology company’s stock worth $109,000 after buying an additional 84,477 shares during the last quarter. Finally, HighTower Advisors LLC raised its position in Agenus by 46.1% during the third quarter. HighTower Advisors LLC now owns 23,851 shares of the biotechnology company’s stock valued at $122,000 after acquiring an additional 7,530 shares in the last quarter. 61.46% of the stock is currently owned by hedge funds and other institutional investors.

About Agenus

Agenus Inc, a clinical-stage biotechnology company, discovers and develops immuno-oncology products in the United States and internationally. The company offers Retrocyte Display, an antibody expression platform for the identification of fully human and humanized monoclonal antibodies; and display technologies.