Agenus' (AGEN) "Buy" Rating Reaffirmed at HC Wainwright

Key Points

• Analysts at HC Wainwright reiterated a "buy" rating for Agenus (NASDAQ: AGEN) with a target price of $23.00, indicating a potential upside of 353.65% from its previous close.
• Agenus recently reported a loss of ($1.00) earnings per share for the quarter, missing consensus estimates, and revenue of $25.70 million, which fell short of analyst expectations.
• Institutional investors currently hold 61.46% of Agenus stock, with several hedge funds recently increasing their positions or acquiring new stakes in the company.

HC Wainwright reaffirmed their buy rating on shares of Agenus (NASDAQ:AGEN - Free Report) in a research note published on Wednesday,Benzinga reports. They currently have a $23.00 target price on the biotechnology company's stock.

Several other analysts also recently weighed in on AGEN. Wall Street Zen downgraded shares of Agenus from a "buy" rating to a "hold" rating in a research report on Sunday, August 17th. Zacks Research raised shares of Agenus to a "hold" rating in a research report on Tuesday, August 12th. Finally, Robert W. Baird boosted their target price on shares of Agenus from $4.00 to $6.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Agenus presently has a consensus rating of "Moderate Buy" and a consensus price target of $14.50.

Agenus Price Performance

NASDAQ:AGEN traded down $0.07 during trading hours on Wednesday, hitting $4.41. 125,376 shares of the company were exchanged, compared to its average volume of 786,024. The stock has a market capitalization of $140.52 million, a price-to-earnings ratio of -0.62 and a beta of 1.44. Agenus has a 52-week low of $1.38 and a 52-week high of $7.34. The company's 50 day moving average price is $5.14 and its 200-day moving average price is $3.85.

Agenus (NASDAQ:AGEN - Get Free Report) last released its earnings results on Monday, August 11th. The biotechnology company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of ($0.78) by ($0.22). The business had revenue of $25.70 million for the quarter, compared to the consensus estimate of $49.71 million. On average, equities analysts predict that Agenus will post -12.55 earnings per share for the current year.

Institutional Investors Weigh In On Agenus

A number of hedge funds have recently modified their holdings of AGEN. Siren L.L.C. purchased a new stake in shares of Agenus in the 1st quarter worth about $752,000. Marshall Wace LLP purchased a new stake in shares of Agenus in the 2nd quarter worth about $1,976,000. AQR Capital Management LLC boosted its position in shares of Agenus by 3,080.3% in the 1st quarter. AQR Capital Management LLC now owns 441,486 shares of the biotechnology company's stock worth $664,000 after buying an additional 427,604 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Agenus by 110.0% in the 2nd quarter. Bank of America Corp DE now owns 420,678 shares of the biotechnology company's stock worth $1,922,000 after buying an additional 220,327 shares in the last quarter. Finally, Walleye Capital LLC purchased a new stake in shares of Agenus in the 2nd quarter worth about $906,000. 61.46% of the stock is currently owned by institutional investors and hedge funds.

Agenus Company Profile

Agenus Inc, a clinical-stage biotechnology company, discovers and develops immuno-oncology products in the United States and internationally. The company offers Retrocyte Display, an antibody expression platform for the identification of fully human and humanized monoclonal antibodies; and display technologies.