Agenus (AGEN) Surges 19.3%: Is This an Indication of Further Gains?

Agenus (AGEN) shares ended the last trading session 19.3% higher at $7.06. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 22.8% gain over the past four weeks.Earlier this month, the company announced encouraging clinical data for its combination therapy of botensilimab and balstilimab (BOT/BAL) in patients with microsatellite-stable metastatic colorectal cancer without active liver metastases. In an expanded cohort of 123 patients, the BOT/BAL combination therapy demonstrated a two-year survival rate of 42%, with the median overall survival now reaching a more mature 21 months. This might have driven the recent share price rally.This biotechnology company is expected to post quarterly loss of $0.78 per share in its upcoming report, which represents a year-over-year change of +69.1%. Revenues are expected to be $25.03 million, up 6.5% 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.For Agenus, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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 #2 (Buy). 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. Illumina (ILMN), another stock in the same industry, closed the last trading session 0.8% lower at $99.25. ILMN has returned 13.5% in the past month.For Illumina, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.02. This represents a change of +183.3% from what the company reported a year ago. Illumina currently has a Zacks Rank of #3 (Hold).5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the favorite stock to gain +100% or more in the months ahead. They includeStock #1: A Disruptive Force with Notable Growth and ResilienceStock #2: Bullish Signs Signaling to Buy the DipStock #3: One of the Most Compelling Investments in the MarketStock #4: Leader In a Red-Hot Industry Poised for GrowthStock #5: Modern Omni-Channel Platform Coiled to SpringMost of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. While not all picks can be winners, previous recommendations have soared +171%, +209% and +232%.Download Atomic Opportunity: Nuclear Energy's Comeback free today.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Agenus Inc. (AGEN): Free Stock Analysis Report Illumina, Inc. (ILMN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks