Agenus Inc. (AGEN)
NASDAQ:AGEN
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Agenus
(NASDAQ:AGEN)
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Rating:48Neutral
Price Target:
$3.00
▼(-37.37% Downside)
Action:Reiterated
Date:05/16/26
The score is held down primarily by weak financial quality—persistent cash burn and negative equity despite improved TTM profitability—alongside bearish-to-neutral technicals (negative MACD and trading below key moving averages). A very low P/E and the removal of litigation overhang provide partial offsets, but do not fully counterbalance the funding and balance-sheet risks.
Positive Factors
Improving profitability & revenue
Trailing-twelve-month results show a clear operational inflection: positive EBIT and a large swing to net income alongside rising revenue. This improvement, if sustained, reduces near-term funding pressure, supports ongoing R&D investment, and strengthens the firm's ability to advance its pipeline.
Negative Factors
Negative equity & leverage
Persistent negative stockholders' equity and material leverage curtail financial flexibility. This capital-structure weakness increases refinancing and dilution risk, limits ability to absorb setbacks, and constrains strategic optionality for M&A or large-scale program funding over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving profitability & revenue
Trailing-twelve-month results show a clear operational inflection: positive EBIT and a large swing to net income alongside rising revenue. This improvement, if sustained, reduces near-term funding pressure, supports ongoing R&D investment, and strengthens the firm's ability to advance its pipeline.
Read all positive factors
Agenus (AGEN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$124.93M
Dividend YieldN/A
Average Volume (3M)696.71K
Price to Earnings (P/E)1.8
Beta (1Y)2.55
Revenue Growth24.46%
EPS GrowthN/A
CountryUS
Employees316
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)1.73
Shares Outstanding41,642,430
10 Day Avg. Volume665,681
30 Day Avg. Volume696,712
Financial Highlights & Ratios
PEG Ratio-8.12
Price to Book (P/B)-0.34
Price to Sales (P/S)0.82
P/FCF Ratio-0.59
Enterprise Value/Market Cap3.14
Enterprise Value/Revenue3.17
Enterprise Value/Gross Profit6.08
Enterprise Value/Ebitda3.09
Forecast
1Y Price Target
$23.00Price Target Upside380.17% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)1.3
Revenue Forecast (FY)$232.90M
Agenus Business Overview & Revenue Model
Company Description
Agenus Inc. is a clinical-stage biotechnology firm operating globally, dedicated to the discovery and development of immuno-oncology therapies. The company's innovative technological arsenal includes Retrocyte Display, a sophisticated antibody exp...
How the Company Makes Money
Agenus primarily generates revenue from collaboration and licensing arrangements rather than from product sales, as it is a clinical-stage company. Key revenue streams can include (1) upfront payments and option fees received when it enters strate...
Agenus Earnings Call Summary
Earnings Call Date:May 12, 2025
(Q1-2025)
| % Change Since: |
Next Earnings Date:Aug 11, 2026
Earnings Call Sentiment Neutral
The earnings call highlighted several positive developments, including strategic hires, promising BOT/BAL data, and multiple capital proposals which could strengthen the company's financial position. However, financial metrics such as a decreased cash balance and lower revenue compared to the previous year, alongside ongoing regulatory challenges, present notable challenges. The overall sentiment is cautiously optimistic as the highlights and lowlights are balanced.Positive Updates
Operational Efficiency Goals
Agenus is on track to reduce its operational cash burn to below $50 million annualized in the second half of 2025.
Negative Updates
Decrease in Cash Balance
The company ended Q1 2025 with a cash balance of $18.5 million, down from $40.4 million at the end of 2024.
Read all updates
Q1-2025 Updates
Positive
Negative
Operational Efficiency Goals
Agenus is on track to reduce its operational cash burn to below $50 million annualized in the second half of 2025.
Read all positive updates
Company Guidance
During Agenus Inc.'s First Quarter 2025 Earnings Conference Call, the company outlined several strategic priorities, focusing on their innovative BOT/BAL data, operational efficiencies, and impending transactions to enhance financial strength. They aim to reduce operational cash burn to below $50 million annually by the second half of 2025. The company's financials for the first quarter showcased a cash balance of $18.5 million, a reduction from $40.4 million at the end of 2024, with a net loss of $26.4 million or $1.03 per share. Revenue was reported at $24.1 million, primarily from non-cash royalty revenue. Agenus has received four transaction proposals, including a potential Emeryville facility sale and two BOT/BAL licensing deals, aimed to bolster their balance sheet. The call emphasized the wide-reaching potential of BOT/BAL in treating cold tumors, with promising data from recent studies, and discussed the evolving regulatory landscape that could expedite therapy approvals.Agenus Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
22
Negative
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 123.87M | 114.20M | 103.46M | 156.31M | 98.02M | 295.67M |
| Gross Profit | 64.58M | 33.84M | -52.55M | -81.37M | -99.23M | 113.59M |
| EBITDA | 127.04M | 62.19M | -101.30M | -145.92M | -161.85M | 43.78M |
| Net Income | 64.61M | 115.00K | -227.21M | -245.76M | -220.07M | -23.93M |
Balance Sheet | ||||||
| Total Assets | 186.46M | 226.80M | 226.27M | 313.91M | 413.56M | 465.96M |
| Cash, Cash Equivalents and Short-Term Investments | 35.00M | 3.00M | 40.44M | 76.11M | 193.36M | 306.92M |
| Total Debt | 304.46M | 334.90M | 94.87M | 93.19M | 78.43M | 58.29M |
| Total Liabilities | 414.44M | 504.66M | 532.70M | 462.30M | 468.46M | 418.05M |
| Stockholders Equity | -221.22M | -271.11M | -326.38M | -160.33M | -61.28M | 34.44M |
Cash Flow | ||||||
| Free Cash Flow | -87.53M | -158.89M | -158.89M | -234.16M | -228.44M | -23.67M |
| Operating Cash Flow | -87.53M | -158.31M | -158.31M | -224.20M | -175.37M | 10.14M |
| Investing Cash Flow | 70.09M | 27.00K | 27.00K | 3.40M | -33.61M | -43.15M |
| Financing Cash Flow | 32.01M | 122.84M | 122.84M | 119.87M | 95.83M | 225.26M |
Agenus Technical Analysis
Negative
4.79
Price Trends
3.64
Negative
3.45
Negative
3.73
Negative
Market Momentum
-0.14
Positive
40.31
Neutral
14.21
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AGEN, the sentiment is Negative. The current price of 4.79 is above the 20-day moving average (MA) of 3.24, above the 50-day MA of 3.64, and above the 200-day MA of 3.73, indicating a bearish trend. The MACD of -0.14 indicates Positive momentum. The RSI at 40.31 is Neutral, neither overbought nor oversold. The STOCH value of 14.21 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AGEN.
Agenus Risk Analysis
Agenus disclosed 87 risk factors in its most recent earnings report. Agenus reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Agenus Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
53 Neutral | $132.02M | 8.57 | 35.58% | ― | 93.50% | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $163.66M | -4.99 | -153.99% | ― | ― | 94.79% | |
48 Neutral | $124.93M | 1.76 | -23.05% | ― | 24.46% | ― | |
47 Neutral | $91.73M | -9.07 | -666.47% | ― | -100.00% | 46.40% | |
45 Neutral | $114.58M | -4.29 | 5214.36% | ― | ― | 13.21% | |
44 Neutral | $50.86M | -1.07 | -39.76% | ― | ― | 40.85% |
* Healthcare Sector Average
AGEN
Agenus
3.00
-1.80
-37.50%
INO
Inovio Pharmaceuticals
1.12
-0.82
-42.23%
ONCY
Oncolytics Biotech
0.96
0.32
50.71%
HURA
TuHURA Biosciences
2.57
0.04
1.58%
SPRO
Spero Therapeutics
2.28
-0.65
-22.18%
TIL
Instil Bio
7.50
-22.34
-74.87%
Agenus Corporate Events
Business Operations and StrategyExecutive/Board Changes
Agenus Announces Resignation of Principal Accounting Officer
Negative
May 15, 2026
On May 12, 2026, Agenus Inc. disclosed that its Senior Director of Financial Reporting and Compliance and Principal Accounting Officer, Austin Charette, had informed the company of his decision to resign. His departure is scheduled to take effect ...
Legal Proceedings
Agenus Securities Class Action Dismissed, Legal Risks Ease
Positive
Mar 26, 2026
On March 24, 2026, the U.S. District Court for the District of Massachusetts dismissed in its entirety a putative securities class action against Agenus Inc. and several current and former executives, which had alleged violations of federal securi...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.