Agenus (AGEN) AI Stock Analysis

• Market Cap: $121.40M
• Dividend Yield: N/A
• Average Volume (3M): 470.44K
• Price to Earnings (P/E): ―
• Beta (1Y): 3.16
• Revenue Growth: -36.29%
• EPS Growth: 36.16%
• Country: US
• Employees: 316
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -1.00
• Shares Outstanding: 31,864,107
• 10 Day Avg. Volume: 475,893
• 30 Day Avg. Volume: 470,445
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 4.45
• Enterprise Value/Revenue: 5.31
• Enterprise Value/Gross Profit: -1.12K
• Enterprise Value/Ebitda: -6.94
• 1Y Price Target: $23.00
• Price Target Upside: 503.67% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 43 Neutral
• Price Target: $4.00 ▲(4.99% Upside)

Agenus faces significant financial challenges, with negative equity and ongoing losses impacting its financial performance score. Technical analysis shows a bearish trend, though there is some long-term support. Valuation is weak due to a negative P/E ratio and lack of dividend yield. These factors collectively result in a low overall stock score.

Positive Factors

Strategic Collaborations

Agenus's partnerships with larger pharmaceutical companies provide financial stability and access to resources, aiding long-term development and commercialization of therapies.

Diverse Product Portfolio

Agenus's diverse portfolio positions it well to address various cancer types, increasing its potential for successful product development and market penetration.

Improved Gross Profit Margin

Improvement in gross profit margin indicates better cost management and operational efficiency, which can enhance long-term profitability prospects.

Negative Factors

Negative Equity

Negative equity indicates liabilities exceed assets, posing a risk to financial stability and limiting the company's ability to raise capital.

Cash Flow Issues

Persistent negative cash flows suggest ongoing liquidity challenges, potentially hindering the company's ability to fund operations and growth initiatives.

Profitability Challenges

Continued profitability challenges reflect operational inefficiencies and may impact the company's ability to achieve sustainable growth and investor confidence.

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 generates revenue through a combination of product sales, partnerships, and collaborations. The company earns money primarily from licensing agreements and collaborations with larger pharmaceutical companies, which pay upfront fees, milestone payments, and royalties on sales of products developed through these partnerships. Additionally, Agenus may receive revenue from its own product sales once therapies are approved and commercialized. The company’s strategic collaborations with major industry players enhance its financial stability and provide access to resources and expertise for the development of its therapies.

Agenus Financial Statement Overview

Summary

Agenus is facing significant financial challenges across all verticals. Despite slight revenue growth, the company struggles with profitability and cash flow management. The balance sheet reflects financial instability with negative equity, and cash flow issues persist, indicating a need for strategic financial restructuring.

Income Statement

Agenus has shown a slight revenue growth in the TTM period, but the company continues to face significant profitability challenges. The gross profit margin has improved from negative to positive, yet the net profit margin remains deeply negative, indicating ongoing losses. The EBIT and EBITDA margins are also negative, reflecting operational inefficiencies.

Balance Sheet

The balance sheet reveals a concerning financial structure with negative stockholders' equity, indicating liabilities exceed assets. The debt-to-equity ratio is negative due to negative equity, and while the return on equity appears positive, it is misleading due to the negative equity base. The equity ratio is also negative, highlighting financial instability.

Cash Flow

Cash flow analysis shows negative operating and free cash flows, with a declining trend in free cash flow growth. The operating cash flow to net income ratio is negative, indicating cash outflows exceed income. The free cash flow to net income ratio is close to 1, suggesting cash flow issues are closely tied to net losses.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	101.71M	103.46M	156.31M	98.02M	295.67M	88.17M
Gross Profit	-481.00K	-52.55M	-81.37M	-99.23M	113.59M	-56.80M
EBITDA	-77.86M	-101.30M	-145.92M	-161.85M	43.78M	-114.63M
Net Income	-165.52M	-227.21M	-245.76M	-220.07M	-23.93M	-180.91M
Balance Sheet
Total Assets	185.22M	226.27M	313.91M	413.56M	465.96M	214.51M
Cash, Cash Equivalents and Short-Term Investments	9.53M	40.44M	76.11M	193.36M	306.92M	99.87M
Total Debt	402.76M	94.87M	88.47M	78.43M	58.29M	55.73M
Total Liabilities	521.53M	532.70M	462.30M	468.46M	418.05M	426.01M
Stockholders Equity	-354.60M	-326.38M	-160.33M	-61.28M	34.44M	-203.67M
Cash Flow
Free Cash Flow	-127.36M	-158.89M	-234.16M	-228.44M	-23.67M	-142.56M
Operating Cash Flow	-127.78M	-158.31M	-224.20M	-175.37M	10.14M	-139.10M
Investing Cash Flow	373.00K	27.00K	3.40M	-33.61M	-43.15M	-4.44M
Financing Cash Flow	43.46M	122.84M	119.87M	95.83M	225.26M	183.85M

Agenus Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 3.81
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: 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 3.81 is below the 20-day moving average (MA) of 4.09, below the 50-day MA of 4.25, and below the 200-day MA of 3.86, indicating a bearish trend. The MACD of -0.08 indicates Positive momentum. The RSI at 40.36 is Neutral, neither overbought nor oversold. The STOCH value of 10.93 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AGEN.

Agenus Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INO	―	$125.42M	―	-140.12%	―	-69.19%	48.94%
Sector *	―	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
SPRO	―	$132.81M	-2.41	-94.59%	―	-67.67%	-390.60%
AGEN	―	$121.40M	-0.53	―	―	-36.29%	36.16%
ONC	―	―	―	―	―	―	―
HURA	―	$126.74M	-0.71	-287.92%	―	―	97.61%
TIL	―	$119.56M	―	-51.74%	―	―	29.72%

Agenus Corporate Events

Agenus Inc. Advances Cancer Treatment with Promising Study Update

A recent clinical study update from Agenus Inc. (AGEN) focuses on the combination of Vorbipiprant (CR6086) and Balstilimab (AGEN2034) in treating patients with refractory metastatic colorectal cancer (mCRC) and other metastatic gastrointestinal (GI) cancers. The study, officially titled An Open-label, Single-arm, Phase Ib/IIa Trial to Evaluate the Safety and Efficacy of the EP4 Receptor Antagonist Vorbipiprant (CR6086) in Combination With the PD-1 Inhibitor Balstilimab (AGEN2034), aims to assess the safety and efficacy of this combination therapy, particularly in patients with limited treatment options.

Agenus Inc. Advances Cancer Treatment with New Drug Combination Study

Study Overview: The study titled A Phase 1/2 Immunotherapy Study of Evofosfamide in Combination with Zalifrelimab and Balstilimab in Patients with Advanced Solid Malignancies aims to evaluate the safety, tolerability, and effectiveness of a drug combination for treating advanced or metastatic castration-resistant prostate cancer, pancreatic cancer, and HPV-negative squamous cell carcinoma of the head and neck. This study is significant as it explores new treatment avenues for these challenging conditions.

Agenus Secures $10M Promissory Note with Zydus

On October 8, 2025, Agenus Inc. entered into a Promissory Note Agreement with Zydus Pharmaceuticals (USA) Inc. for up to $10 million. The Note will fund operational expenses for Agenus’s Emeryville and Berkeley facilities in the fourth quarter of 2025, with potential forgiveness if certain agreements close. Agenus pledged shares of MiNK Therapeutics as collateral, with provisions for release upon fulfillment of the Note’s obligations.

The most recent analyst rating on (AGEN) stock is a Hold with a $4.00 price target. To see the full list of analyst forecasts on Agenus stock, see the AGEN Stock Forecast page.

Agenus Faces CFIUS Review Delay in Zydus Deal

On June 3, 2025, Agenus and Zydus Pharmaceuticals (USA) Inc. entered into agreements for Zydus to acquire Agenus’s manufacturing assets, a minority stake in the company, and commercial rights in India and Sri Lanka for certain intellectual property. The companies submitted a filing to the Committee on Foreign Investment in the United States (CFIUS) for review. On September 17, 2025, CFIUS requested a full notice application, delaying the anticipated closing of these transactions to the fourth quarter of 2025.

The most recent analyst rating on (AGEN) stock is a Sell with a $4.50 price target. To see the full list of analyst forecasts on Agenus stock, see the AGEN Stock Forecast page.

Agenus Inc. Faces Ongoing Risks: What Investors Need to Know

Agenus Inc.’s operational results and financial health remain vulnerable to a variety of risks and uncertainties, as outlined in their Annual Report on Form 10-K for the fiscal year ending December 31, 2024. Despite the passage of time, there have been no significant changes to the risk factors previously identified in Part I, Item 1A of the 2024 Form 10-K. This ongoing exposure to potential risks could impact the company’s performance and investor confidence. Stakeholders should remain vigilant about these persistent uncertainties as they assess the company’s future prospects.

Agenus Inc. Reports Q2 2025 Financial Results

Agenus Inc. is an immuno-oncology company focused on developing innovative therapies to treat cancer, leveraging a comprehensive pipeline of immunological agents and strategic partnerships to advance its mission.