Zacks Investment Research Downgrades Agenus Inc. (AGEN) to Hold
Agenus Inc. (NASDAQ:AGEN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Agenus has several collaboration agreements, which not only validate its technology platforms but also provide funds. The company received a boost when Merck selected its lead antibody candidate and several backup antibodies to an undisclosed checkpoint target. Agenus is developing its anti-CTLA-4 antibody, AGEN1884, and its anti-GITR checkpoint antibody, INCAGN1876, in partnership with Incyte. We are encouraged by the company’s efforts in developing Prophage vaccine for glioblastoma multiforme. However, Agenus is heavily dependent on its partners for pipeline development. Agenus has only a few candidates in mid-stage of development including Prophage vaccine and a number of QS-21 Stimulon-containing vaccine candidates. Any unfavorable outcome from the studies may affect shares adversely.”
AGEN has been the subject of several other research reports. Jefferies Group restated a “buy” rating on shares of Agenus in a research report on Tuesday, August 23rd. HC Wainwright reiterated a “buy” rating and issued a $10.00 target price on shares of Agenus in a research report on Sunday, July 31st. Finally, Maxim Group reiterated a “buy” rating and issued a $7.00 target price on shares of Agenus in a research report on Thursday, July 28th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $10.25.
Agenus (NASDAQ:AGEN) opened at 6.87 on Wednesday. The stock has a 50 day moving average of $6.42 and a 200-day moving average of $4.80. The firm’s market cap is $597.09 million. Agenus has a 52-week low of $2.61 and a 52-week high of $7.31.
Agenus (NASDAQ:AGEN) last released its quarterly earnings results on Thursday, July 28th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.01. The business earned $6.59 million during the quarter, compared to analyst estimates of $5.12 million. Agenus had a negative net margin of 328.53% and a negative return on equity of 138.27%. On average, analysts expect that Agenus will post ($1.27) EPS for the current year.
In other Agenus news, Director Ulf Wiinberg acquired 30,000 shares of Agenus stock in a transaction dated Tuesday, September 6th. The stock was bought at an average price of $6.29 per share, for a total transaction of $188,700.00. Following the transaction, the director now owns 30,000 shares in the company, valued at approximately $188,700. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 7.60% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. venBio Select Advisor LLC raised its position in Agenus by 9.2% in the first quarter. venBio Select Advisor LLC now owns 2,400,868 shares of the company’s stock valued at $9,988,000 after buying an additional 201,731 shares during the period. Creative Planning raised its position in Agenus by 2.8% in the second quarter. Creative Planning now owns 64,171 shares of the company’s stock valued at $260,000 after buying an additional 1,762 shares during the period. Blair William & Co. IL raised its position in Agenus by 45.9% in the second quarter. Blair William & Co. IL now owns 59,700 shares of the company’s stock valued at $189,000 after buying an additional 18,775 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Agenus by 2.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 983,924 shares of the company’s stock valued at $3,985,000 after buying an additional 28,006 shares during the period. Finally, RTW Investments LLC raised its position in Agenus by 11.1% in the first quarter. RTW Investments LLC now owns 2,414,524 shares of the company’s stock valued at $10,044,000 after buying an additional 241,257 shares during the period. Institutional investors own 40.63% of the company’s stock.
Agenus Inc (Agenus) is an immuno-oncology company. The Company is engaged in discovering and developing treatments for patients with cancer. Its approaches are driven by platforms and programs, which include antibody discovery platform, including Retrocyte Display, SECANT yeast display and phage display technologies designed to produce human antibodies; antibody candidate programs, including checkpoint modulator (CPM) programs; vaccine programs, including Prophage and AutoSynVax, and saponin-based vaccine adjuvants, principally QS-21 Stimulon adjuvant (QS-21 Stimulon).
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