Zacks Investment Research upgraded shares of Agenus Inc. (NASDAQ:AGEN) from a sell rating to a buy rating in a research note published on Wednesday, July 5th. Zacks Investment Research currently has $4.50 price target on the biotechnology company’s stock.

According to Zacks, “Agenus' collaboration agreements with players like Incyte and Merck not only validate its technology platforms but also provide the company with funds. In fact, it received a boost when Merck selected its lead antibody candidate and several backup antibodies for an undisclosed checkpoint target. We are encouraged by Agenus’ efforts in developing Prophage vaccine for glioblastoma multiforme. In Mar 2017, the company undertook certain restructuring activities in order to cut costs and focus on developing key product candidates. However, with no approved product in its portfolio, Agenus is heavily dependent on collaborators for topline growth. Shares of the company have underperformed the Medical-Biomedical/Genetics industry year to date.”

A number of other brokerages have also commented on AGEN. HC Wainwright set a $5.00 target price on Agenus and gave the company a hold rating in a research report on Saturday, May 6th. Maxim Group reissued a buy rating and set a $7.00 price objective on shares of Agenus in a report on Sunday, April 23rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $5.88.

Agenus (AGEN) traded down 0.23% during midday trading on Wednesday, reaching $4.38. The company’s stock had a trading volume of 449,990 shares. The firm’s market capitalization is $434.14 million. The firm has a 50 day moving average price of $3.59 and a 200 day moving average price of $3.86. Agenus has a 1-year low of $3.20 and a 1-year high of $7.49.

Agenus (NASDAQ:AGEN) last announced its earnings results on Thursday, May 4th. The biotechnology company reported ($0.18) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.32) by $0.14. The firm had revenue of $26.96 million for the quarter, compared to the consensus estimate of $5.22 million. Agenus had a negative return on equity of 37,577.49% and a negative net margin of 257.79%. On average, analysts predict that Agenus will post ($1.26) EPS for the current year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vident Investment Advisory LLC boosted its position in Agenus by 0.6% in the fourth quarter. Vident Investment Advisory LLC now owns 168,710 shares of the biotechnology company’s stock worth $695,000 after buying an additional 1,056 shares in the last quarter. American International Group Inc. raised its stake in Agenus by 7.1% in the first quarter. American International Group Inc. now owns 45,013 shares of the biotechnology company’s stock valued at $170,000 after buying an additional 2,984 shares during the last quarter. Quotient Investors LLC raised its stake in Agenus by 8.8% in the first quarter. Quotient Investors LLC now owns 47,000 shares of the biotechnology company’s stock valued at $177,000 after buying an additional 3,800 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its stake in Agenus by 12.2% in the first quarter. Metropolitan Life Insurance Co. NY now owns 55,920 shares of the biotechnology company’s stock valued at $211,000 after buying an additional 6,101 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Agenus by 7.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 97,342 shares of the biotechnology company’s stock worth $367,000 after buying an additional 7,050 shares in the last quarter. 42.61% of the stock is currently owned by institutional investors and hedge funds.

Agenus Company Profile

Agenus Inc (Agenus) is an immuno-oncology (I-O) company. The Company focuses on the discovery and development of therapies that engage the body’s immune system to fight cancer. It is developing a I-O portfolio driven by platforms and programs, such as antibody discovery platforms, 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, AutoSynVax and PhosPhoSynVax, and saponin-based vaccine adjuvants, principally QS-21 Stimulon adjuvant (QS-21 Stimulon).

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