Agenus (NASDAQ:AGEN) Raised to Buy at Wall Street Zen

Key Points

• Agenus was upgraded from a "hold" to a "buy" rating by Wall Street Zen, reflecting increased analyst confidence in the stock.
• Robert W. Baird raised Agenus' price target from $4.00 to $6.00, while HC Wainwright set an even higher target of $25.00.
• The company reported a quarterly EPS of ($1.03), beating expectations, but fell short on revenue with $24.07 million compared to the predicted $26.38 million.

Wall Street Zen upgraded shares of Agenus (NASDAQ:AGEN - Free Report) from a hold rating to a buy rating in a report issued on Saturday morning.

A number of other research firms have also recently weighed in on AGEN. Robert W. Baird increased their price objective 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. B. Riley restated a "buy" rating on shares of Agenus in a research report on Monday, April 21st. Finally, HC Wainwright upgraded Agenus from a "neutral" rating to a "buy" rating and set a $25.00 price objective on the stock in a report on Wednesday, June 4th.

Agenus Trading Down 4.5%

Agenus stock traded down $0.22 during mid-day trading on Friday, hitting $4.60. The company's stock had a trading volume of 255,609 shares, compared to its average volume of 838,433. The firm has a market capitalization of $125.99 million, a PE ratio of -0.64 and a beta of 1.62. Agenus has a 1 year low of $1.38 and a 1 year high of $7.34. The stock's fifty day moving average is $5.42 and its two-hundred day moving average is $3.68.

Agenus (NASDAQ:AGEN - Get Free Report) last posted its earnings results on Monday, August 11th. The biotechnology company reported ($1.00) EPS for the quarter, missing analysts' consensus estimates 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 expect that Agenus will post -12.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Agenus

Hedge funds have recently added to or reduced their stakes in the business. Corton Capital Inc. purchased a new stake in shares of Agenus during the fourth quarter worth $36,000. Apollon Wealth Management LLC grew its stake in Agenus by 25.0% during the 1st quarter. Apollon Wealth Management LLC now owns 25,007 shares of the biotechnology company's stock worth $38,000 after purchasing an additional 5,000 shares in the last quarter. Catalyst Funds Management Pty Ltd purchased a new stake in Agenus during the 2nd quarter worth about $50,000. Acadian Asset Management LLC acquired a new stake in Agenus in the 1st quarter valued at about $58,000. Finally, Bank of Montreal Can acquired a new stake in Agenus in the 4th quarter valued at about $69,000. 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.