Agenus (NASDAQ:AGEN) Stock Rating Upgraded by Zacks Investment Research

Agenus (NASDAQ:AGEN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, Zacks.com reports. The brokerage currently has a $2.25 price objective on the biotechnology company’s stock. Zacks Investment Research‘s target price suggests a potential downside of 7.79% from the company’s current price.

According to Zacks, “Agenus’ earnings and revenues beat estimates for the fourth quarter of 2019. The company’s efforts to develop its pipeline are impressive. It is advancing a combination study of CTLA-4 targeting antibody, AGEN-1884, and its PD-1 targeting antibody, AGEN-2034, for second-line cervical cancer. A filing is expected in 2020. The company also has partnership with bigwig Gilead Sciences, which lends it with the much-needed infusion of cash to advance its pipeline development. The company filed several IND applications, which are now set for clinical studies. However, with no approved product in its portfolio and only a few candidates in mid-stage development, Agenus is still a few years away from launching a product to the market. The stock has underperformed the industry in the past year.”

Other analysts also recently issued reports about the stock. BidaskClub downgraded shares of Agenus from a “hold” rating to a “sell” rating in a report on Friday, March 20th. B. Riley assumed coverage on shares of Agenus in a report on Friday, December 20th. They issued a “buy” rating and a $6.00 price objective on the stock. Finally, ValuEngine downgraded shares of Agenus from a “buy” rating to a “hold” rating in a report on Saturday, March 14th.

Shares of NASDAQ AGEN traded up $0.06 during midday trading on Tuesday, reaching $2.44. The company’s stock had a trading volume of 1,641,950 shares, compared to its average volume of 2,147,360. Agenus has a fifty-two week low of $1.82 and a fifty-two week high of $4.57. The stock has a market capitalization of $368.42 million, a price-to-earnings ratio of -3.01 and a beta of 2.55. The stock has a 50 day simple moving average of $2.93 and a 200-day simple moving average of $3.31.

Agenus (NASDAQ:AGEN) last posted its quarterly earnings data on Thursday, March 12th. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.38) by $0.16. The business had revenue of $34.50 million during the quarter, compared to analyst estimates of $17.05 million. On average, research analysts predict that Agenus will post -1.28 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Great West Life Assurance Co. Can increased its holdings in Agenus by 121.6% during the fourth quarter. Great West Life Assurance Co. Can now owns 10,345 shares of the biotechnology company’s stock worth $42,000 after buying an additional 5,676 shares during the last quarter. Commonwealth Equity Services LLC acquired a new position in Agenus during the third quarter worth $27,000. Strategy Asset Managers LLC acquired a new position in Agenus during the fourth quarter worth $58,000. SG Americas Securities LLC acquired a new position in Agenus during the fourth quarter worth $60,000. Finally, Bank of Montreal Can increased its holdings in Agenus by 35.5% during the fourth quarter. Bank of Montreal Can now owns 15,335 shares of the biotechnology company’s stock worth $63,000 after buying an additional 4,014 shares during the last quarter. Institutional investors and hedge funds own 33.82% of the company’s stock.

About Agenus

Agenus Inc, a clinical-stage immuno-oncology company, focuses on the discovery and development of therapies that engage the body's immune system to fight cancer. The company offers Retrocyte Display, an antibody discovery platform for the identification of fully-human and humanized monoclonal antibodies; SECANT yeast display, an antibody discovery platform used for the generation of novel monoclonal antibodies; and phage display technologies.

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