Agenus (AGEN) Reports Q3 Loss, Lags Revenue Estimates

Core Insights - Agenus reported a quarterly loss of $3.17 per share, which was worse than the Zacks Consensus Estimate of a loss of $2.10, representing an earnings surprise of -50.95% [1] - The company generated revenues of $25.11 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 35.82% [2] - Agenus shares have declined approximately 76.5% year-to-date, contrasting with the S&P 500's gain of 25.8% [3] Financial Performance - The company has surpassed consensus EPS estimates only once in the last four quarters [2] - The current consensus EPS estimate for the upcoming quarter is -$1.97 on revenues of $45.7 million, and for the current fiscal year, it is -$10.26 on revenues of $143.23 million [7] Industry Context - The Medical - Biomedical and Genetics industry, to which Agenus belongs, is currently ranked in the top 29% of over 250 Zacks industries, indicating a favorable outlook compared to lower-ranked industries [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact stock performance [5]