Agenus’ (AGEN) “Buy” Rating Reiterated at Chardan Capital

Chardan Capital reiterated their buy rating on shares of Agenus (NASDAQ:AGEN) in a report published on Monday,Benzinga reports. The brokerage currently has a $40.00 price target on the biotechnology company’s stock.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings cut Agenus from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, August 21st. Rodman & Renshaw initiated coverage on Agenus in a research note on Monday, September 28th. They issued a “buy” rating and a $19.00 price objective for the company. B. Riley Financial reiterated a “buy” rating and issued a $14.00 target price (up from $8.00) on shares of Agenus in a report on Thursday, July 30th. HC Wainwright reissued a “buy” rating and set a $25.00 target price (down from $30.00) on shares of Agenus in a research report on Tuesday, August 11th. Finally, Wall Street Zen lowered Agenus from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Agenus has a consensus rating of “Moderate Buy” and a consensus price target of $24.50.

Agenus Stock Up 1.1%

Shares of NASDAQ:AGEN opened at $7.57 on Monday. The firm has a fifty day simple moving average of $7.85 and a two-hundred day simple moving average of $5.25. Agenus has a 52 week low of $2.71 and a 52 week high of $10.31. The stock has a market capitalization of $341.86 million, a P/E ratio of 2.93 and a beta of 1.31.

Agenus (NASDAQ:AGEN) last announced 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 net margin of 69.33% and a negative return on equity of 47.68%. The business had revenue of $34.52 million for the quarter, compared to analysts’ expectations of $34.00 million. On average, analysts expect that Agenus will post -0.3 earnings per share for the current year.

Institutional Trading of Agenus

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Globeflex Capital L P purchased a new stake in shares of Agenus in the 2nd quarter worth approximately $1,281,000. Bank of America Corp DE increased its holdings 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 valued at $397,000 after buying an additional 105,536 shares during the period. Bank of New York Mellon Corp purchased a new position in Agenus during the second quarter valued at approximately $311,000. Ovata Capital Management Ltd bought a new position in Agenus in the fourth quarter worth approximately $97,000. Finally, Redwood Family Wealth LLC bought a new position in Agenus in the fourth quarter worth approximately $44,000. 61.46% of the stock is owned by hedge funds and other institutional investors.

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.