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Why Agenus (AGEN) Is Down Big Today

Stocks in this article: AGEN

NEW YORK (TheStreet) -- Shares of Agenus (AGEN) fell Thursday following the failure of a phase III lung cancer study conducted by partner GlaxoSmithKline. Agenus was trading down 8% at $3.94.

Glaxo's MAGE-A3 lung cancer vaccine is manufactured using an adjuvant from Agenus. Glaxo said it was disappointed with the study results but the company was committed to the project and that the study would continue through an evaluation of a third co-primary endpoint.

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TheStreet Ratings team rates AGENUS INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about its recommendation:

"We rate AGENUS INC (AGEN) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income and generally disappointing historical performance in the stock itself."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed against the S&P 500 and did not exceed that of the Biotechnology industry. The net income has decreased by 6.2% when compared to the same quarter one year ago, dropping from -$5.44 million to -$5.78 million.
  • AGEN has underperformed the S&P 500 Index, declining 7.07% from its price level of one year ago. The fact that the stock is now selling for less than others in its industry in relation to its current earnings is not reason enough to justify a buy rating at this time.
  • AGEN, with its very weak revenue results, has greatly underperformed against the industry average of 14.9%. Since the same quarter one year prior, revenues plummeted by 64.0%. The declining revenue has not hurt the company's bottom line, with increasing earnings per share.
  • AGENUS INC has improved earnings per share by 30.4% in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, AGENUS INC reported poor results of -$1.15 versus -$0.49 in the prior year. This year, the market expects an improvement in earnings (-$0.73 versus -$1.15).
  • You can view the full analysis from the report here: AGEN Ratings Report
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