Agenus’ (AGEN) Buy Rating Reaffirmed at B. Riley Financial

Agenus (NASDAQ:AGEN)‘s stock had its “buy” rating reissued by equities researchers at B. Riley Financial in a research note issued to investors on Monday, Benzinga reports. They currently have a $16.00 price objective on the biotechnology company’s stock, up from their previous price objective of $14.00. B. Riley Financial‘s price objective would suggest a potential upside of 122.59% from the company’s previous close.

AGEN has been the subject of several other research reports. Wall Street Zen downgraded Agenus from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. HC Wainwright reiterated 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. Chardan Capital reiterated a “buy” rating on shares of Agenus in a report on Thursday, October 22nd. Rodman & Renshaw initiated coverage on shares of Agenus in a research report on Monday, September 28th. They issued a “buy” rating and a $19.00 price target for the company. Finally, Weiss Ratings upgraded shares of Agenus from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.00.

Agenus Price Performance

AGEN stock opened at $7.19 on Monday. The company’s 50-day moving average is $7.46 and its 200-day moving average is $5.01. The stock 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) last issued its earnings results on Thursday, November 5th. The biotechnology company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.30. Agenus had a negative return on equity of 27.16% and a net margin of 22.10%. The business had revenue of $31.49 million during the quarter, compared to analyst estimates of $28.20 million. On average, analysts anticipate that Agenus will post -0.30 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Agenus

A number of institutional investors and hedge funds have recently bought and sold shares of AGEN. Globeflex Capital L P purchased a new stake in Agenus in the 2nd quarter valued at $1,281,000. Bank of America Corp DE boosted its holdings in Agenus by 796.7% during the 1st 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 during the last quarter. Bank of New York Mellon Corp purchased a new position in Agenus during the 2nd quarter worth $311,000. State of Wyoming bought a new stake in shares of Agenus in the 3rd quarter worth $225,000. Finally, Everhart Financial Group Inc. bought a new stake in shares of Agenus in the 3rd quarter worth $100,000. 61.46% of the stock is owned by hedge funds and other institutional investors.

Agenus Company Profile

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.