Industry Analysts Just Made A Notable Upgrade To Their Agenus Inc. (NASDAQ:AGEN) Revenue Forecasts

Shareholders in Agenus Inc. (NASDAQ:AGEN) may be thrilled to learn that the analysts have just delivered a major upgrade to their near-term forecasts. The revenue forecast for this year has experienced a facelift, with the analysts now much more optimistic on its sales pipeline. The stock price has risen 6.4% to US$1.50 over the past week, suggesting investors are becoming more optimistic. Could this big upgrade push the stock even higher?

After the upgrade, the four analysts covering Agenus are now predicting revenues of US$107m in 2023. If met, this would reflect a notable 12% improvement in sales compared to the last 12 months. Prior to the latest estimates, the analysts were forecasting revenues of US$92m in 2023. The consensus has definitely become more optimistic, showing a substantial gain in revenue forecasts.

See our latest analysis for Agenus

Of course, another way to look at these forecasts is to place them into context against the industry itself. It's pretty clear that there is an expectation that Agenus' revenue growth will slow down substantially, with revenues to the end of 2023 expected to display 17% growth on an annualised basis. This is compared to a historical growth rate of 26% over the past five years. Compare this to the 646 other companies in this industry with analyst coverage, which are forecast to grow their revenue at 18% per year. So it's pretty clear that, while Agenus' revenue growth is expected to slow, it's expected to grow roughly in line with the industry.

The Bottom Line

The highlight for us was that analysts increased their revenue forecasts for Agenus this year. They're also forecasting for revenues to grow at about the same rate as companies in the wider market. Seeing the dramatic upgrade to this year's forecasts, it might be time to take another look at Agenus.

Analysts are definitely bullish on Agenus, but no company is perfect. Indeed, you should know that there are several potential concerns to be aware of, including dilutive stock issuance over the past year. For more information, you can click through to our platform to learn more about this and the 3 other warning signs we've identified .

Another way to search for interesting companies that could be reaching an inflection point is to track whether management are buying or selling, with our free list of growing companies that insiders are buying.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.