Agenus (NasdaqCM:AGEN) - Share price, News & Analysis

AGEN fundamental analysis
Snowflake Score
Valuation	0/6
Future Growth	3/6
Past Performance	2/6
Financial Health	5/6
Dividends	0/6

AGEN Stock Overview

Agenus Inc., a clinical-stage immuno-oncology company, discovers and develops immuno-oncology products in the United States and internationally.

Rewards

Earnings are forecast to grow 12.85% per year

Became profitable this year

Risk Analysis

Volatile share price over the past 3 months

Large one-off items impacting financial results

Shareholders have been diluted in the past year

Agenus Competitors

Organogenesis Holdings

NasdaqCM:ORGO

US$592.9m

Avid Bioservices

NasdaqCM:CDMO

US$1.2b

Catalyst Pharmaceuticals

NasdaqCM:CPRX

US$1.4b

Xencor

NasdaqGM:XNCR

US$1.8b

Price History & Performance

Summary of all time highs, changes and price drops for Agenus
Historical stock prices
Current Share Price	US$2.82
52 Week High	US$6.79
52 Week Low	US$1.25
Beta	1.2
1 Month Change	1.08%
3 Month Change	79.62%
1 Year Change	-50.96%
3 Year Change	-4.73%
5 Year Change	-23.99%
Change since IPO	-99.23%

Recent News & Updates

Aug 09

Agenus GAAP EPS of -$0.17, revenue of $20.93M

Agenus press release (NASDAQ:AGEN): Q2 GAAP EPS of -$0.17. Revenue of $20.93M (+95.1% Y/Y). The company ended second quarter 2022 with a cash and short-term investment balance of $238 million as compared to $263 million and $307 million on March 31, 2022, and December 31, 2021, respectively. Shares +2% PM.

Shareholder Returns

	AGEN	US Biotechs	US Market
7D	5.6%	-2.0%	1.4%
1Y	-51.0%	-22.2%	-8.4%

Return vs Industry: AGEN underperformed the US Biotechs industry which returned -23% over the past year.

Return vs Market: AGEN underperformed the US Market which returned -9% over the past year.

Price Volatility

Is AGEN's price volatile compared to industry and market?
AGEN volatility
AGEN Average Weekly Movement	13.5%
Biotechs Industry Average Movement	12.4%
Market Average Movement	7.6%
10% most volatile stocks in US Market	17.1%
10% least volatile stocks in US Market	3.1%

Stable Share Price: AGEN is more volatile than 75% of US stocks over the past 3 months, typically moving +/- 14% a week.

Volatility Over Time: AGEN's weekly volatility (14%) has been stable over the past year, but is still higher than 75% of US stocks.

About the Company

Founded	Employees	CEO	Website
1994	441	Garo Armen	https://www.agenusbio.com

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.

Agenus Fundamentals Summary

How do Agenus's earnings and revenue compare to its market cap?
AGEN fundamental statistics
Market Cap	US$798.52m
Earnings (TTM)	US$18.07m
Revenue (TTM)	US$320.08m

44.2x

P/E Ratio

2.5x

P/S Ratio

Is AGEN overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
AGEN income statement (TTM)
Revenue	US$320.08m
Cost of Revenue	US$188.09m
Gross Profit	US$131.99m
Other Expenses	US$113.92m
Earnings	US$18.07m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	0.064
Gross Margin	41.24%
Net Profit Margin	5.65%
Debt/Equity Ratio	100.4%

How did AGEN perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

Is AGEN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for AGEN?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for AGEN. This is calculated by dividing AGEN's market cap by their current preferred multiple.
What is AGEN's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	US$798.52m

AGEN key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	2x
Enterprise Value/EBITDA	11.3x
PEG Ratio	3.4x

Price to Earnings Ratio vs Peers

How does AGEN's PE Ratio compare to its peers?

AGEN PE Ratio vs Peers

The above table shows the PE ratio for AGEN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	30.8x
ORGO Organogenesis Holdings	8.2x	6.8%	US$592.9m
CDMO Avid Bioservices	9.2x	-57.2%	US$1.2b
CPRX Catalyst Pharmaceuticals	26.1x	14.8%	US$1.4b
XNCR Xencor	79.4x	18.2%	US$1.8b
AGEN Agenus	44.2x	12.9%	US$798.5m

Price-To-Earnings vs Peers: AGEN is expensive based on its Price-To-Earnings Ratio (44.2x) compared to the peer average (30.8x).

Price to Earnings Ratio vs Industry

How does AGEN's PE Ratio compare vs other companies in the US Biotechs Industry?

Price-To-Earnings vs Industry: AGEN is expensive based on its Price-To-Earnings Ratio (44.2x) compared to the US Biotechs industry average (16.2x)

Price to Earnings Ratio vs Fair Ratio

What is AGEN's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

AGEN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	44.2x
Fair PE Ratio	24.8x

Price-To-Earnings vs Fair Ratio: AGEN is expensive based on its Price-To-Earnings Ratio (44.2x) compared to the estimated Fair Price-To-Earnings Ratio (24.8x).

Share Price vs Fair Value

What is the Fair Price of AGEN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate AGEN's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate AGEN's fair value for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

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Future Growth

How is Agenus forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

12.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: AGEN's forecast earnings growth (12.9% per year) is above the savings rate (1.9%).

Earnings vs Market: AGEN's earnings (12.9% per year) are forecast to grow slower than the US market (14.4% per year).

High Growth Earnings: AGEN's earnings are forecast to grow, but not significantly.

Revenue vs Market: AGEN's revenue (20.1% per year) is forecast to grow faster than the US market (7.8% per year).

High Growth Revenue: AGEN's revenue (20.1% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if AGEN's Return on Equity is forecast to be high in 3 years time

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Past Performance

How has Agenus performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

12.4%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: AGEN has a large one-off gain of $18.3M impacting its June 30 2022 financial results.

Growing Profit Margin: AGEN became profitable in the past.

Past Earnings Growth Analysis

Earnings Trend: AGEN has become profitable over the past 5 years, growing earnings by 12.4% per year.

Accelerating Growth: AGEN has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: AGEN has become profitable in the last year, making it difficult to compare its past year earnings growth to the Biotechs industry (24.5%).

Return on Equity

High ROE: Whilst AGEN's Return on Equity (72.09%) is outstanding, this metric is skewed due to their high level of debt.

Discover strong past performing companies

Financial Health

How is Agenus's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: AGEN's short term assets ($288.9M) exceed its short term liabilities ($159.7M).

Long Term Liabilities: AGEN's short term assets ($288.9M) exceed its long term liabilities ($282.8M).

Debt to Equity History and Analysis

Debt Level: AGEN has more cash than its total debt.

Reducing Debt: AGEN had negative shareholder equity 5 years ago, but is now positive and has therefore improved.

Debt Coverage: AGEN's debt is well covered by operating cash flow (92%).

Interest Coverage: AGEN's interest payments on its debt are not well covered by EBIT (0.8x coverage).

Balance Sheet

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Dividend

What is Agenus's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate AGEN's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate AGEN's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if AGEN's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if AGEN's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as AGEN has not reported any payouts.

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Management

How experienced are the management team and are they aligned to shareholders interests?

3.4yrs

Average management tenure

CEO

Garo Armen (69 yo)

28.58yrs

Tenure

US$9,757,448

Compensation

Dr. Garo H. Armen, Ph D., founded Agenus Inc. in 1994 and has been its Chief Executive Officer since 1994. He serves as Executive Chairman at MiNK Therapeutics, Inc. Dr. Armen serves as an Executive Chairm...

CEO Compensation Analysis

Compensation vs Market: Garo's total compensation ($USD9.76M) is above average for companies of similar size in the US market ($USD3.83M).

Compensation vs Earnings: Garo's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: AGEN's management team is considered experienced (3.4 years average tenure).

Board Members

Experienced Board: AGEN's board of directors are seasoned and experienced ( 15.4 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 21.5%.

Data	Last Updated (UTC time)
Company Analysis	2022/08/18 00:00
End of Day Share Price	2022/08/18 00:00
Earnings	2022/06/30
Annual Earnings	2021/12/31