Agenus Inc. (AGEN) – What Are Brokerages Thinking About This Stock?

Agenus Inc. (NASDAQ:AGEN) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $24.50.

Several research firms have recently issued reports on AGEN. B. Riley Financial reissued a “buy” rating and set a $14.00 target price (up from $8.00) on shares of Agenus in a research note on Thursday, July 30th. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price target (down from $30.00) on shares of Agenus in a research note on Tuesday, August 11th. Rodman & Renshaw started coverage on Agenus in a research note on Monday, September 28th. They issued a “buy” rating and a $19.00 price target for the company. Weiss Ratings upgraded shares of Agenus from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. Finally, Wall Street Zen downgraded shares of Agenus from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th.

Agenus Stock Down 9.6%

NASDAQ:AGEN opened at $6.04 on Tuesday. The firm has a market capitalization of $272.77 million, a P/E ratio of 2.34 and a beta of 1.31. The company has a fifty day moving average of $7.75 and a 200 day moving average of $5.40. Agenus has a 52 week low of $2.71 and a 52 week high of $10.31.

Agenus (NASDAQ:AGEN) last announced its quarterly earnings results on Friday, August 7th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.06). The business had revenue of $34.52 million for the quarter, compared to analysts’ expectations of $34.00 million. Agenus had a net margin of 69.33% and a negative return on equity of 47.68%. As a group, analysts anticipate that Agenus will post -0.30 EPS for the current year.

Institutional Investors Weigh In On Agenus

A number of large investors have recently modified their holdings of AGEN. Everhart Financial Group Inc. bought a new position in Agenus in the third quarter worth about $100,000. Globeflex Capital L P purchased a new position in shares of Agenus during the 2nd quarter worth approximately $1,281,000. Bank of New York Mellon Corp bought a new position in shares of Agenus in the 2nd quarter worth approximately $311,000. Bank of America Corp DE raised its position in shares of Agenus by 796.7% in 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 in the last quarter. Finally, Redwood Family Wealth LLC bought a new position in shares of Agenus in the 4th quarter worth approximately $44,000. Institutional investors own 61.46% of the company’s stock.

About Agenus

Agenus Inc (NASDAQ: AGEN) 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 an emphasis on therapies that may be used alone or in combination.

Agenus’ pipeline includes botensilimab, an investigational Fc-enhanced CTLA-4 antibody, and balstilimab, an investigational PD-1 inhibitor. The company has studied these therapies in combination across several solid-tumor indications, including colorectal cancer and other advanced cancers.