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Agenus (AGEN) Soars 6.8%: Is Further Upside Left in the Stock?

Zacks Equity Research
·2-min read

Agenus (AGEN) shares rallied 6.8% in the last trading session to close at $5.31. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 55.8% loss over the past four weeks.

Earlier this month, the company announced updated data from its phase I study evaluating the BOT/BAL combination therapy in patients with metastatic colorectal cancer that is not microsatellite instability-high (MSS) or deficient mismatch repair (dMMR). The updated data showed that treatment with the BOT/BAL combination therapy led to a 12-month overall survival of 71% and an 18-month overall survival of 62% in the given patient population. This might have driven the share price rally.

This biotechnology company is expected to post quarterly loss of $3.10 per share in its upcoming report, which represents a year-over-year change of +29.6%. Revenues are expected to be $53.2 million, up 132.3% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

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For Agenus, the consensus EPS estimate for the quarter has been revised 0.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on AGEN going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Agenus is part of the Zacks Medical - Biomedical and Genetics industry. Regeneron (REGN), another stock in the same industry, closed the last trading session 0.3% higher at $896.82. REGN has returned -7.7% in the past month.

For Regeneron , the consensus EPS estimate for the upcoming report has changed +2% over the past month to $10. This represents a change of -0.9% from what the company reported a year ago. Regeneron currently has a Zacks Rank of #3 (Hold).

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