Agenus Inc. (NASDAQ:AGEN) Stock Has Consensus Target Price of $24.50

Key Points

• Analyst sentiment is moderately bullish: Agenus has a “Moderate Buy” consensus from six analysts—four buys, one hold and one sell—with an average 12-month price target of $24.50.
• Quarterly results beat expectations: Agenus reported EPS of $0.02 versus consensus for a $0.28 loss, and revenue of $31.49 million compared with estimates of $28.20 million.
• Shares opened at $7.15 and were reported up 11%; the stock’s 52-week range was $2.71 to $10.31.

Agenus Inc. (NASDAQ:AGEN - Get Free Report) has been assigned an average rating of "Moderate Buy" from the six analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $24.50.

A number of equities analysts have recently commented on the stock. Rodman & Renshaw started coverage on shares of Agenus in a research note on Monday, September 28th. They set a "buy" rating and a $19.00 price objective for the company. Wall Street Zen downgraded Agenus from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 17th. Chardan Capital reissued a "buy" rating on shares of Agenus in a research note on Thursday, October 22nd. HC Wainwright reaffirmed a "buy" rating and issued a $25.00 target price (down from $30.00) on shares of Agenus in a report on Tuesday, August 11th. Finally, B. Riley Financial reissued a "buy" rating and issued a $14.00 price objective (up from $8.00) on shares of Agenus in a research note on Thursday, July 30th.

Agenus Trading Up 11.0%

Shares of NASDAQ:AGEN opened at $7.15 on Friday. The stock has a market cap of $322.89 million, a PE ratio of 10.83 and a beta of 1.53. The stock's fifty day simple moving average is $7.46 and its two-hundred day simple moving average is $5.01. Agenus has a 1-year low of $2.71 and a 1-year high of $10.31.

Agenus (NASDAQ:AGEN - Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.30. Agenus had a net margin of 69.33% and a negative return on equity of 47.68%. The company had revenue of $31.49 million for the quarter, compared to analyst estimates of $28.20 million. On average, sell-side analysts forecast that Agenus will post -0.30 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Agenus

A number of large investors have recently bought and sold shares of the business. Globeflex Capital L P bought a new stake in shares of Agenus in the 2nd quarter valued at about $1,281,000. Bank of America Corp DE boosted its position 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 valued at $397,000 after buying an additional 105,536 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Agenus during the second quarter worth $311,000. State of Wyoming acquired a new stake in shares of Agenus during the third quarter valued at $225,000. Finally, Everhart Financial Group Inc. acquired a new stake in Agenus in the 3rd quarter valued at about $100,000. Institutional investors own 61.46% of the company's stock.

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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