Agenus Inc. (NASDAQ:AGEN) Raised to Buy at BidaskClub

Agenus Inc. (NASDAQ:AGEN) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Monday, July 24th.

AGEN has been the subject of several other research reports. Maxim Group reaffirmed a “buy” rating and set a $7.00 target price on shares of Agenus in a research note on Sunday, April 23rd. Zacks Investment Research raised shares of Agenus from a “sell” rating to a “buy” rating and set a $4.50 target price for the company in a research note on Wednesday, July 5th. ValuEngine raised shares of Agenus from a “strong sell” rating to a “sell” rating in a research note on Monday, July 24th. Finally, HC Wainwright set a $5.00 price objective on shares of Agenus and gave the company a “hold” rating in a research note on Saturday, May 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $5.88.

Shares of Agenus (NASDAQ:AGEN) traded up 1.71% during midday trading on Monday, reaching $3.57. 483,682 shares of the company were exchanged. The firm has a 50-day moving average of $4.25 and a 200 day moving average of $3.90. Agenus has a 52 week low of $3.20 and a 52 week high of $7.49. The firm’s market capitalization is $355.97 million.

Agenus (NASDAQ:AGEN) last announced its earnings results on Thursday, August 3rd. The biotechnology company reported ($0.32) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.36) by $0.04. The company had revenue of $4.21 million during the quarter, compared to analyst estimates of $6.66 million. Agenus had a negative net margin of 280.96% and a negative return on equity of 37,577.49%. Agenus’s revenue was down 36.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.33) earnings per share. On average, equities research analysts expect that Agenus will post ($1.13) EPS for the current year.

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Hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its stake in Agenus by 6.7% in the second quarter. The Manufacturers Life Insurance Company now owns 63,595 shares of the biotechnology company’s stock worth $248,000 after buying an additional 4,006 shares during the last quarter. Voya Investment Management LLC boosted its stake in Agenus by 18.5% in the second quarter. Voya Investment Management LLC now owns 40,855 shares of the biotechnology company’s stock worth $160,000 after buying an additional 6,381 shares during the last quarter. OxFORD Asset Management LLP bought a new stake in Agenus during the second quarter worth $141,000. Vanguard Group Inc. boosted its stake in Agenus by 5.2% in the second quarter. Vanguard Group Inc. now owns 3,530,585 shares of the biotechnology company’s stock worth $13,805,000 after buying an additional 174,162 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Agenus by 4.1% in the second quarter. Northern Trust Corp now owns 941,631 shares of the biotechnology company’s stock worth $3,682,000 after buying an additional 37,239 shares during the last quarter. 41.54% of the stock is currently owned by institutional investors.

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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