Agenus (NASDAQ:AGEN) Stock Rating Reaffirmed as "Buy" by B. Riley Financial

Key Points

• B. Riley reaffirmed its Buy rating on Agenus and raised its price target from $14 to $16, implying 122.59% upside from the stock’s current price.
• Analyst sentiment is mixed but leans positive: MarketBeat reports a “Moderate Buy” consensus and an average target of $25, based on four Buy, one Hold, and one Sell rating.
• Agenus reported quarterly EPS of $0.02, beating the consensus estimate of a $0.28 loss, and revenue of $31.49 million versus expectations of $28.20 million.

Agenus (NASDAQ:AGEN - Get Free Report)'s stock had its "buy" rating restated by research analysts at B. Riley Financial in a research report issued on Monday, Benzinga reports. They presently have a $16.00 target price on the biotechnology company's stock, up from their prior target price of $14.00. B. Riley Financial's target price would suggest a potential upside of 122.59% from the stock's current price.

A number of other equities analysts have also commented on AGEN. Rodman & Renshaw began coverage on shares of Agenus in a research report on Monday, September 28th. They set a "buy" rating and a $19.00 price target on the stock. Chardan Capital reissued a "buy" rating on shares of Agenus in a report on Thursday, October 22nd. Weiss Ratings upgraded shares of Agenus from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, October 8th. Wall Street Zen cut shares of Agenus from a "strong-buy" rating to a "hold" rating in a report on Monday, August 17th. Finally, HC Wainwright restated a "buy" rating and issued a $25.00 price target (down from $30.00) on shares of Agenus in a research report on Tuesday, August 11th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Agenus has a consensus rating of "Moderate Buy" and an average target price of $25.00.

Agenus Price Performance

AGEN opened at $7.19 on Monday. The business has a fifty day simple moving average of $7.46 and a 200 day simple moving average of $5.01. The company has a market capitalization of $324.61 million, a PE ratio of 11.09 and a beta of 1.54. Agenus has a 1 year low of $2.71 and a 1 year high of $10.31.

Agenus (NASDAQ:AGEN - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The biotechnology company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.30. The firm had revenue of $31.49 million for the quarter, compared to analysts' expectations of $28.20 million. Agenus had a negative return on equity of 27.16% and a net margin of 22.10%. Equities analysts anticipate that Agenus will post -0.30 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Agenus

Large investors have recently modified their holdings of the company. Russell Investments Group Ltd. raised its position in shares of Agenus by 58.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 5,732 shares of the biotechnology company's stock worth $57,000 after acquiring an additional 2,118 shares in the last quarter. Everhart Financial Group Inc. acquired a new stake in Agenus during the third quarter worth approximately $100,000. State of Wyoming acquired a new stake in Agenus during the third quarter worth approximately $225,000. Bank of New York Mellon Corp bought a new stake in Agenus in the second quarter worth approximately $311,000. Finally, Bank of America Corp DE increased its holdings in Agenus by 796.7% in the first quarter. Bank of America Corp DE now owns 118,782 shares of the biotechnology company's stock worth $397,000 after purchasing an additional 105,536 shares in the last quarter. 61.46% of the stock is currently owned by institutional investors and hedge funds.

About Agenus

Agenus Inc is a biotechnology company focused on developing immunotherapies for the treatment of cancer. The company's research programs are designed to activate and strengthen the immune system's ability to recognize and attack tumors, with a focus on therapies that may be used across multiple cancer types.

Agenus develops a range of therapeutic approaches, including immune checkpoint inhibitors, cancer vaccines, bispecific antibodies and other antibody-based treatments. Its pipeline has included investigational therapies targeting immune-regulating pathways, as well as combination regimens intended to improve treatment responses and address resistance to existing cancer therapies.

The company was founded in 1994 as Antigenics and adopted the Agenus name in 2011.

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