Chardan Capital Reaffirms “Buy” Rating for Agenus (NASDAQ:AGEN)

Agenus (NASDAQ:AGEN)‘s stock had its “buy” rating reiterated by equities researchers at Chardan Capital in a report issued on Thursday, Benzinga reports.

Other analysts have also issued research reports about the company. HC Wainwright restated a “buy” rating and issued a $25.00 price objective (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 issued a “buy” rating and a $19.00 price objective on the stock. B. Riley Financial restated 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. Weiss Ratings upgraded Agenus from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. Finally, Wall Street Zen lowered Agenus from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.50.

Agenus Stock Performance

AGEN traded up $0.48 on Thursday, hitting $7.13. 744,094 shares of the company were exchanged, compared to its average volume of 1,854,296. Agenus has a 12 month low of $2.71 and a 12 month high of $10.31. The company has a market cap of $322.01 million, a PE ratio of 2.76 and a beta of 1.31. The stock’s fifty day moving average is $7.63 and its 200-day moving average is $4.89.

Agenus (NASDAQ:AGEN) last released its earnings results 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). Agenus had a negative return on equity of 47.68% and a net margin of 69.33%. The company had revenue of $34.52 million for the quarter, compared to the consensus estimate of $34.00 million. As a group, equities research analysts expect that Agenus will post -0.30 EPS for the current fiscal year.

Hedge Funds Weigh In On Agenus

Several institutional investors and hedge funds have recently made changes to their positions in AGEN. Globeflex Capital L P acquired a new position in shares of Agenus in the second quarter valued at approximately $1,281,000. Bank of America Corp DE grew its position in shares of 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 purchasing an additional 105,536 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Agenus in the second quarter valued at approximately $311,000. Finally, Everhart Financial Group Inc. acquired a new position in shares of Agenus in the third quarter valued at approximately $100,000. Institutional investors and hedge funds own 61.46% of the company’s stock.

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.