B. Riley Cuts Agenus (NASDAQ:AGEN) Price Target to $18.00

Agenus (NASDAQ:AGEN) had its price target reduced by B. Riley from $42.00 to $18.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the biotechnology company’s stock. B. Riley also issued estimates for Agenus’ Q3 2024 earnings at ($0.90) EPS, Q4 2024 earnings at $0.58 EPS, FY2024 earnings at ($6.27) EPS, FY2025 earnings at ($6.59) EPS, FY2026 earnings at ($4.96) EPS, FY2027 earnings at ($4.23) EPS and FY2028 earnings at ($0.93) EPS.

A number of other brokerages also recently issued reports on AGEN. William Blair downgraded Agenus from an outperform rating to a market perform rating in a research report on Thursday, July 18th. Jefferies Financial Group reiterated a hold rating and set a $7.00 price target (up from $3.00) on shares of Agenus in a research report on Friday, July 19th. HC Wainwright lowered shares of Agenus from a buy rating to a neutral rating and decreased their price objective for the stock from $40.00 to $9.00 in a report on Thursday, July 18th. Robert W. Baird downgraded shares of Agenus from an outperform rating to a neutral rating and dropped their target price for the company from $35.00 to $8.00 in a report on Friday, July 19th. Finally, StockNews.com lowered Agenus from a hold rating to a sell rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus price target of $10.50.

Agenus Trading Up 2.1 %

NASDAQ:AGEN opened at $5.28 on Wednesday. The company has a market cap of $110.87 million, a P/E ratio of -0.41 and a beta of 1.33. The company’s 50-day moving average price is $11.13 and its 200-day moving average price is $11.78. Agenus has a twelve month low of $4.41 and a twelve month high of $32.00.

Agenus (NASDAQ:AGEN) last posted its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($2.52) EPS for the quarter, missing the consensus estimate of ($1.33) by ($1.19). The firm had revenue of $23.51 million during the quarter, compared to analyst estimates of $64.73 million. During the same quarter in the previous year, the company posted ($4.00) EPS. On average, analysts expect that Agenus will post -10.73 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AGEN. Vanguard Group Inc. lifted its holdings in Agenus by 13.7% during the 1st quarter. Vanguard Group Inc. now owns 34,401,122 shares of the biotechnology company’s stock worth $19,953,000 after buying an additional 4,134,232 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Agenus by 1,959.9% during the first quarter. Acadian Asset Management LLC now owns 757,397 shares of the biotechnology company’s stock worth $439,000 after acquiring an additional 720,629 shares during the period. Pennant Investors LP acquired a new stake in shares of Agenus in the fourth quarter valued at $389,000. Virtu Financial LLC acquired a new stake in shares of Agenus in the fourth quarter valued at $213,000. Finally, Readystate Asset Management LP boosted its holdings in Agenus by 14.3% in the fourth quarter. Readystate Asset Management LP now owns 2,016,783 shares of the biotechnology company’s stock valued at $1,670,000 after purchasing an additional 252,124 shares during the period. Institutional investors and hedge funds own 61.46% of the company’s stock.

About Agenus

Agenus Inc, a clinical-stage biotechnology company, discovers and develops immuno-oncology products in the United States and internationally. The company offers Retrocyte Display, an antibody expression platform for the identification of fully human and humanized monoclonal antibodies; and display technologies.