Agenus (NASDAQ:AGEN) Now Covered by Analysts at Rodman & Renshaw

Key Points

• Rodman & Renshaw initiated coverage of Agenus with a “buy” rating and a $19 price target, implying 122.48% upside from the prior close.
• Analyst sentiment is broadly positive but varied: four analysts rate the stock Buy, one Hold and one Sell, producing a “Moderate Buy” consensus and an average target of $24.50.
• Agenus shares opened at $8.54, while institutional investors own 61.46% of the company. The biotechnology firm recently missed quarterly EPS expectations, reporting a $0.01 loss per share versus a projected $0.05 profit.

Investment analysts at Rodman & Renshaw assumed coverage on shares of Agenus (NASDAQ:AGEN - Get Free Report) in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage set a "buy" rating and a $19.00 price target on the biotechnology company's stock. Rodman & Renshaw's target price would suggest a potential upside of 122.48% from the company's previous close.

Other equities analysts also recently issued reports about the stock. Chardan Capital began coverage on shares of Agenus in a report on Friday, September 18th. They set a "buy" rating and a $40.00 price objective on the stock. Wall Street Zen downgraded Agenus from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 17th. Weiss Ratings lowered Agenus from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, August 21st. HC Wainwright reiterated a "buy" rating and set a $25.00 target price (down from $30.00) on shares of Agenus in a research note on Tuesday, August 11th. Finally, B. Riley Financial restated a "buy" rating and set a $14.00 price objective (up from $8.00) on shares of Agenus in a report on Thursday, July 30th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $24.50.

Agenus Price Performance

Shares of NASDAQ:AGEN opened at $8.54 on Monday. Agenus has a twelve month low of $2.71 and a twelve month high of $8.85. The stock's 50 day moving average is $7.40 and its 200-day moving average is $4.95. The firm has a market capitalization of $385.67 million, a price-to-earnings ratio of 3.31 and a beta of 1.38.

Agenus (NASDAQ:AGEN - Get Free Report) last released its quarterly earnings data on Friday, August 7th. The biotechnology company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.06). The business had revenue of $34.52 million during the quarter, compared to the consensus estimate of $34.00 million. Agenus had a net margin of 69.33% and a negative return on equity of 47.68%. Equities research analysts anticipate that Agenus will post -0.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AGEN. Redwood Family Wealth LLC purchased a new position in Agenus during the fourth quarter worth about $44,000. Ovata Capital Management Ltd purchased a new stake in Agenus in the fourth quarter valued at approximately $97,000. Bank of New York Mellon Corp bought a new stake in Agenus during the second quarter valued at approximately $311,000. Bank of America Corp DE increased its holdings in shares of 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 buying an additional 105,536 shares during the last quarter. Finally, Globeflex Capital L P bought a new stake in shares of Agenus during the 2nd quarter worth $1,281,000. 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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