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

Equities researchers at Chardan Capital began coverage on shares of Agenus (NASDAQ:AGEN) 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 price objective would suggest a potential upside of 454.02% from the stock’s previous close.

Several other equities research analysts have also recently commented on AGEN. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 target price (down from $30.00) on shares of Agenus in a research report on Tuesday, August 11th. B. Riley Financial reiterated 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. Wall Street Zen downgraded shares of Agenus from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. Finally, Weiss Ratings lowered 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $26.33.

Agenus Stock Up 0.1%

Shares of Agenus stock opened at $7.22 on Friday. The company has a market cap of $326.06 million, a PE ratio of 2.80 and a beta of 1.38. The business has a 50 day moving average of $6.99 and a 200 day moving average of $4.73. Agenus has a 52 week low of $2.71 and a 52 week high of $8.85.

Agenus (NASDAQ:AGEN) last released its quarterly earnings results on Friday, August 7th. The biotechnology company reported ($0.01) earnings per share 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 the consensus estimate of $34.00 million. Agenus had a net margin of 69.33% and a negative return on equity of 47.68%. On average, research analysts anticipate that Agenus will post -0.28 earnings per share for the current year.

Institutional Trading of Agenus

A number of hedge funds have recently modified their holdings of the business. Redwood Family Wealth LLC bought a new position in shares of Agenus in the 4th quarter worth about $44,000. Ovata Capital Management Ltd purchased a new position in Agenus during the 4th quarter valued at about $97,000. Bank of New York Mellon Corp bought a new stake in Agenus during the second quarter worth about $311,000. Bank of America Corp DE boosted its stake in Agenus by 796.7% during the first 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 in the last quarter. Finally, Globeflex Capital L P purchased a new stake in Agenus in the second quarter worth about $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.