Agenus' (AGEN) Buy Rating Reaffirmed at Chardan Capital

Key Points

• Chardan Capital reaffirmed its “buy” rating on Agenus and maintained a $40 price target, implying 378.47% upside from the prior close.
• Analyst sentiment is generally positive, with four Buy ratings, one Hold, and one Sell; the consensus rating is “Moderate Buy” with an average price target of $24.50.
• Agenus reported quarterly revenue of $34.52 million, slightly above expectations, but posted adjusted EPS of negative $0.01 versus the $0.05 consensus estimate. Institutional investors own 61.46% of the company.

Agenus (NASDAQ:AGEN - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at Chardan Capital in a note issued to investors on Monday, Benzinga reports. They currently have a $40.00 target price on the biotechnology company's stock. Chardan Capital's price target indicates a potential upside of 378.47% from the stock's previous close.

A number of other brokerages also recently commented on AGEN. Weiss Ratings downgraded Agenus from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, August 21st. Wall Street Zen cut Agenus from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 17th. HC Wainwright restated 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. Rodman & Renshaw began coverage on Agenus in a research note on Monday, September 28th. They set a "buy" rating and a $19.00 price target for the company. Finally, 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 note on Thursday, July 30th. Four 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $24.50.

Agenus Stock Performance

Shares of AGEN stock opened at $8.36 on Monday. Agenus has a fifty-two week low of $2.71 and a fifty-two week high of $10.31. The stock's fifty day moving average is $7.76 and its two-hundred day moving average is $5.16. The firm has a market capitalization of $377.54 million, a P/E ratio of 3.24 and a beta of 1.31.

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

Hedge Funds Weigh In On Agenus

Institutional investors have recently modified their holdings of the company. Globeflex Capital L P acquired a new stake in Agenus in the 2nd quarter worth about $1,281,000. Bank of America Corp DE boosted its stake 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 buying an additional 105,536 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Agenus in the 2nd quarter worth about $311,000. Ovata Capital Management Ltd purchased a new position in shares of Agenus in the 4th quarter worth about $97,000. Finally, Redwood Family Wealth LLC purchased a new position in shares of Agenus in the 4th quarter worth about $44,000. Institutional investors and hedge funds 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. The company's research programs are designed to activate and strengthen the immune system's ability to recognize and attack tumors, with an emphasis on therapies that may be used alone or in combination.

Agenus' pipeline includes botensilimab, an investigational Fc-enhanced CTLA-4 antibody, and balstilimab, an investigational PD-1 inhibitor. The company has studied these therapies in combination across several solid-tumor indications, including colorectal cancer and other advanced cancers.