Published on 15 Mar 2024 on Simply Wall St. via Yahoo Finance
Analysts Just Shaved Their Agenus Inc. (NASDAQ:AGEN) Forecasts Dramatically
The latest analyst coverage could presage a bad day for Agenus Inc. (NASDAQ:AGEN), with the analysts making across-the-board cuts to their statutory estimates that might leave shareholders a little shell-shocked. Both revenue and earnings per share (EPS) estimates were cut sharply as analysts factored in the latest outlook for the business, concluding that they were too optimistic previously.
Following the downgrade, the current consensus from Agenus' five analysts is for revenues of US$178m in 2024 which - if met - would reflect a sizeable 77% increase on its sales over the past 12 months. Losses are predicted to fall substantially, shrinking 29% to US$0.48 per share. Yet before this consensus update, the analysts had been forecasting revenues of US$214m and losses of US$0.37 per share in 2024. Ergo, there's been a clear change in sentiment, with the analysts administering a notable cut to this year's revenue estimates, while at the same time increasing their loss per share forecasts.
Check out our latest analysis for Agenus