Agenus (NASDAQ:AGEN) Coverage Initiated by Analysts at Chardan Capital

Key Points

• Chardan Capital initiated coverage of Agenus with a Buy rating and a $40 price target, implying roughly 454% upside from the prior close.
• Analyst sentiment is mixed: three firms rate the stock Buy, one rates it Hold, and one rates it Sell. The consensus rating is Hold, with an average price target of $26.33.
• Agenus shares opened at $7.22, while institutional investors own 61.46% of the company. The biotechnology firm recently reported quarterly revenue of $34.52 million but missed consensus EPS estimates.

Stock analysts at Chardan Capital started coverage on shares of Agenus (NASDAQ:AGEN - Get Free Report) in a report issued on Friday, Benzinga reports. The firm set a "buy" rating and a $40.00 price target on the biotechnology company's stock. Chardan Capital's target price would indicate a potential upside of 454.02% from the stock's previous close.

Several other brokerages have also issued reports on AGEN. HC Wainwright reaffirmed a "buy" rating and set a $25.00 target price (down from $30.00) on shares of Agenus in a research report on Tuesday, August 11th. Wall Street Zen downgraded shares of Agenus from a "strong-buy" rating to a "hold" rating in a report on Monday, August 17th. B. Riley Financial restated a "buy" rating and set a $14.00 price target (up from $8.00) on shares of Agenus in a research report on Thursday, July 30th. Finally, Weiss Ratings downgraded shares of Agenus from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, August 21st. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $26.33.

Agenus Stock Up 0.1%

Shares of NASDAQ AGEN opened at $7.22 on Friday. The company has a market capitalization of $326.06 million, a PE ratio of 2.80 and a beta of 1.38. The stock's 50 day moving average price is $6.99 and its 200-day moving average price is $4.73. Agenus has a twelve month low of $2.71 and a twelve month high of $8.85.

Agenus (NASDAQ:AGEN - Get Free Report) last issued its quarterly earnings results on Friday, August 7th. The biotechnology company reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.06). Agenus had a net margin of 69.33% and a negative return on equity of 47.68%. The business had revenue of $34.52 million for the quarter, compared to analysts' expectations of $34.00 million. As a group, research analysts expect that Agenus will post -0.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AGEN. Globeflex Capital L P bought a new stake in Agenus during the 2nd quarter valued at $1,281,000. Bank of America Corp DE grew its holdings in Agenus by 796.7% in the 1st quarter. Bank of America Corp DE now owns 118,782 shares of the biotechnology company's stock worth $397,000 after acquiring an additional 105,536 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Agenus in the 2nd quarter worth $311,000. Ovata Capital Management Ltd purchased a new position in shares of Agenus in the fourth quarter valued at about $97,000. Finally, Redwood Family Wealth LLC purchased a new position in shares of Agenus in the fourth quarter valued at about $44,000. Institutional investors own 61.46% of the company's stock.

Agenus Company Profile

Agenus Inc NASDAQ: AGEN is a biotechnology company focused on developing immunotherapies for the treatment of cancer. Its research programs are designed to activate and direct the immune system against tumors, with an emphasis on therapies that may address immune resistance and improve responses in difficult-to-treat cancers.

The company's pipeline has included checkpoint inhibitors, cancer vaccines, immune-stimulating adjuvants, bispecific antibodies and other antibody-based therapies.

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