Agenus (NASDAQ:AGEN) Stock Rating Reaffirmed as “Buy” by Chardan Capital

Agenus (NASDAQ:AGEN)‘s stock had its “buy” rating reissued by Chardan Capital in a research note issued on Monday, Benzinga reports. They currently have a $40.00 target price on the biotechnology company’s stock. Chardan Capital’s price target points to a potential upside of 434.05% from the company’s current price.

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

Agenus Trading Down 14.2%

Shares of AGEN stock opened at $7.49 on Monday. The business’s 50 day moving average is $7.83 and its two-hundred day moving average is $5.22. Agenus has a twelve month low of $2.71 and a twelve month high of $10.31. The company has a market capitalization of $338.26 million, a P/E ratio of 2.90 and a beta of 1.31.

Agenus (NASDAQ:AGEN) last released its quarterly earnings results on Friday, August 7th. The biotechnology company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.06). Agenus had a negative return on equity of 47.68% and a net margin of 69.33%.The company had revenue of $34.52 million for the quarter, compared to analysts’ expectations of $34.00 million. As a group, equities analysts predict that Agenus will post -0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Agenus

Institutional investors and hedge funds have recently made changes to their positions in the business. Redwood Family Wealth LLC purchased a new position in Agenus during the 4th quarter valued at about $44,000. Ovata Capital Management Ltd acquired a new stake in shares of Agenus in the fourth quarter valued at approximately $97,000. Bank of New York Mellon Corp acquired a new stake in shares of Agenus in the second quarter valued at approximately $311,000. Bank of America Corp DE increased its stake in shares of Agenus by 796.7% during the 1st quarter. Bank of America Corp DE now owns 118,782 shares of the biotechnology company’s stock worth $397,000 after purchasing an additional 105,536 shares in the last quarter. Finally, Globeflex Capital L P acquired a new position in shares of Agenus during the 2nd quarter worth approximately $1,281,000. 61.46% of the stock is currently owned by hedge funds and other institutional investors.

Agenus Company Profile

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.