Agenus (AGEN) AI Stock Analysis

• Market Cap: $142.02M
• Dividend Yield: N/A
• Average Volume (3M): 1.51M
• Price to Earnings (P/E): ―
• Beta (1Y): 3.24
• Revenue Growth: -38.34%
• EPS Growth: 31.19%
• Country: US
• Employees: 316
• Sector: Healthcare
• Sector Strength: 39
• Industry: Biotechnology
• EPS (TTM): -1.03
• Shares Outstanding: 27,416,850
• 10 Day Avg. Volume: 1,295,807
• 30 Day Avg. Volume: 1,513,434
• PEG Ratio: -0.02
• Price to Book (P/B): -11.03
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -2.96
• Enterprise Value/Market Cap: 4.06
• Enterprise Value/Revenue: 1.10
• Enterprise Value/Gross Profit: 23.82
• Enterprise Value/Ebitda: -1.62
• 1Y Price Target: $11.00
• Price Target Upside: 85.81% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 5

• Rating: 56 Neutral
• Price Target: $6.00 ▲(1.35%Upside)

Agenus' overall stock score is primarily influenced by its challenging financial performance, which significantly impacts its stability and future outlook. Positive technical indicators and strategic collaborations provide some optimism. However, negative valuation metrics and ongoing financial losses temper the outlook.

Positive Factors

Clinical Trial Design

The FDA waives bot monotherapy requirement for Phase 3 design, supporting a simplified trial structure.

Equity Investment

Zydus will make a $16M strategic equity investment in Agenus, providing the essential capital needed to accelerate a Phase 3 trial of botensilimab and balstilimab in MSS-CRC.

Strategic Collaboration

The strategic collaboration with Zydus is valued at up to $141M and aims to accelerate the clinical development of botensilimab and balstilimab while securing scaled manufacturing.

Negative Factors

FDA Approval Challenges

The FDA reiterated that the demonstrated magnitude of treatment effect does not appear to meet the standard of reasonably likely to predict benefit.

Regulatory Approval

Analyst remains Neutral until updates are provided on path to market and a better sense of if the FDA's advice has changed since last year.

Agenus Business Overview & Revenue Model

Company Description

Agenus Inc., a clinical-stage immuno-oncology 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. It develops vaccine programs comprising Prophage vaccine candidate; and QS-21 Stimulon adjuvant, a saponin-based vaccine adjuvant. The company also develops Balstilimab, an anti-PD-1 antagonist that has completed Phase II clinical trial to treat second line cervical cancer; AGEN1181, an anti-CTLA-4 monospecific antibody that is in Phase 1/2 clinical trial; AGEN2373, an anti-CD137 monospecific antibody that is in Phase 1 clinical trial; AGEN1423, a tumor microenvironment conditioning anti-CD73/TGFß TRAP bi-functional antibody that has completed Phase 1 clinical trial; AGEN1777, an anti-TIGIT bispecific antibodies; and AGEN1327, a human monoclonal antibody. In addition, the company develops INCAGN1876, an anti-GITR monospecific antibody; INCAGN1949, an anti-OX40 monospecific antibody; INCAGN2390, an anti-TIM-3 monospecific antibody; INCAGN2385, an anti-LAG-3 monospecific antibody; MK-4830, a monospecific antibody targeting ILT4; AGENT 797, an iNKT cells that is in Phase 1 clinical trial for solid tumors, multiple myeloma, and viral ARDS, as well as in clinical stage to treat hematological malignancies and multiple myeloma/B cells; and AGEN1884, a first-generation anti-CTLA-4 monospecific antibody. Agenus Inc. operates under ASV, Agenus, AutoSynVax, EVAMPLIX, MiNK, PSV, PhosPhoSynVax, Prophage, Retrocyte Display, and Stimulon trademarks. It has collaborations with Incyte Corporation, Merck Sharpe & Dohme, Recepta Biopharma SA, and Gilead Sciences, Inc. The company was formerly known as Antigenics Inc. and changed its name to Agenus Inc. in January 2011. Agenus Inc. was founded in 1994 and is headquartered in Lexington, Massachusetts.

How the Company Makes Money

Agenus makes money primarily through partnerships, collaborations, and licensing agreements with larger pharmaceutical companies. These strategic partnerships often involve upfront payments, milestone payments, and royalties on potential future sales of co-developed products. Additionally, Agenus may generate revenue from government grants and research funding to support its innovative projects. The company also aims to eventually commercialize its proprietary products, which would provide a direct revenue stream from product sales. However, as a clinical-stage company, Agenus is still in the process of advancing its pipeline through clinical trials, which means a significant portion of its revenue depends on successful partnerships and collaborations.

Agenus Financial Statement Overview

Summary

Agenus faces significant financial challenges with declining revenues, persistent losses, and a strained balance sheet. The company's cash flow issues further compound its financial instability, posing substantial risks for future operations. Improvements in revenue generation, cost management, and balance sheet restructuring are needed to enhance financial health.

Income Statement

Agenus shows significant revenue fluctuations with recent revenue decline in TTM, highlighting volatility. Gross profit margins have been negative in recent years, indicating high cost of goods sold. The net profit margin is negative, showing a lack of profitability. EBIT and EBITDA margins are also negative, reflecting operational challenges.

Balance Sheet

The company's balance sheet shows negative stockholders' equity, indicating financial distress. The debt-to-equity ratio is not meaningful due to negative equity, but the high level of liabilities suggests significant leverage. The equity ratio is negative, indicating more liabilities than assets, which poses solvency risks.

Cash Flow

Agenus continues to experience negative operating and free cash flows, signaling cash burn. The free cash flow growth rate is negative, reflecting ongoing cash challenges. Operating cash flow to net income ratio suggests inefficient cash generation relative to net losses.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	99.52M	103.46M	156.31M	98.02M	295.67M	88.17M
Gross Profit	24.18M	-52.55M	-81.37M	-99.23M	113.59M	-56.80M
EBITDA	-84.00M	-101.30M	-145.92M	-161.85M	44.02M	-114.63M
Net Income	-190.65M	-227.21M	-245.76M	-271.51M	-94.70M	-240.13M
Balance Sheet
Total Assets	200.20M	226.27M	313.91M	413.56M	465.96M	214.51M
Cash, Cash Equivalents and Short-Term Investments	18.49M	40.44M	76.11M	193.36M	306.92M	99.87M
Total Debt	53.98M	94.87M	88.47M	78.43M	58.29M	55.73M
Total Liabilities	262.29M	532.70M	462.30M	468.46M	418.05M	426.01M
Stockholders Equity	-62.09M	-326.38M	-160.33M	-61.28M	34.44M	-203.67M
Cash Flow
Free Cash Flow	-145.78M	-158.89M	-234.16M	-228.44M	-23.67M	-142.56M
Operating Cash Flow	-145.74M	-158.31M	-224.20M	-175.37M	10.14M	-139.10M
Investing Cash Flow	-145.00K	27.00K	3.40M	-33.61M	-43.15M	-4.44M
Financing Cash Flow	111.60M	122.84M	119.87M	95.83M	225.26M	183.85M

Agenus Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 5.92
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AGEN, the sentiment is Positive. The current price of 5.92 is above the 20-day moving average (MA) of 5.02, above the 50-day MA of 4.27, and above the 200-day MA of 3.50, indicating a bullish trend. The MACD of 0.32 indicates Negative momentum. The RSI at 61.05 is Neutral, neither overbought nor oversold. The STOCH value of 52.69 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AGEN.

Agenus Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AGEN	56 Neutral	$142.02M	―	260.68%	―	-38.34%	31.19%
Sector *	52 Neutral	$7.53B	0.20	-61.87%	2.28%	16.72%	1.10%
FBIO	48 Neutral	$58.84M	―	-181.84%	―	-32.11%	88.12%
CYCC	38 Underperform	$5.91M	―	-1949.77%	―	-89.76%	80.28%
OTLK	38 Underperform	$83.56M	―	<0.01%	―	―	-29.01%
QNCX	31 Underperform	$77.75M	―	-130.90%	―	―	-55.81%

Agenus Corporate Events

Agenus Holds Annual Stockholders Meeting on June 17

Agenus Inc. held its Annual Meeting of Stockholders on June 17, 2025, where stockholders voted on several proposals. The meeting saw the election of Brian Corvese and Timothy Wright as Class I directors, approval of amendments to increase shares for various incentive and compensation plans, and ratification of KPMG LLP as the independent auditor for 2025. However, proposals for a one-time exchange of options and executive compensation were not approved.

The most recent analyst rating on (AGEN) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on Agenus stock, see the AGEN Stock Forecast page.

Agenus Announces Strategic Collaboration with Zydus

On June 3, 2025, Agenus Inc. announced a strategic collaboration with Zydus Lifesciences Ltd. involving the sale of its manufacturing operations to Zydus for up to $125 million. This agreement includes an upfront payment of $75 million and contingent payments of up to $50 million, alongside a $16 million equity investment by Zydus in Agenus. The collaboration aims to accelerate the development and commercialization of Agenus’ cancer immunotherapy drugs, botensilimab and balstilimab (BOT/BAL), by leveraging Zydus’ manufacturing capabilities and market presence in India and Sri Lanka. This partnership is expected to enhance Agenus’ operational capacity and market reach, while also establishing Zydus’ BioCDMO business in the U.S.

The most recent analyst rating on (AGEN) stock is a Hold with a $6.00 price target. To see the full list of analyst forecasts on Agenus stock, see the AGEN Stock Forecast page.