Agenus Inc. (AGEN) Downgraded by Zacks Investment Research
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.”
A number of other brokerages have also weighed in on AGEN. Jefferies Group reaffirmed a buy rating on shares of Agenus in a report on Tuesday, August 23rd. HC Wainwright reaffirmed a buy rating and set a $10.00 price objective on shares of Agenus in a report on Sunday, July 31st. Finally, Maxim Group reissued a buy rating and issued a $7.00 target price on shares of Agenus in a report on Thursday, July 28th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $10.25.
Agenus (NASDAQ:AGEN) last announced its quarterly earnings data on Thursday, July 28th. The company reported ($0.33) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.01. Agenus had a negative return on equity of 138.27% and a negative net margin of 328.53%. The firm had revenue of $6.59 million for the quarter, compared to analyst estimates of $5.12 million.
In related news, Director Ulf Wiinberg acquired 30,000 shares of Agenus stock in a transaction dated Tuesday, September 6th. The shares were acquired at an average cost of $6.29 per share, for a total transaction of $188,700.00. Following the completion of the transaction, the director now directly owns 30,000 shares of the company’s stock, valued at $188,700. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 7.60% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the stock. BlackRock Investment Management LLC increased its stake in shares of Agenus by 3.4% in the second quarter. BlackRock Investment Management LLC now owns 288,041 shares of the company’s stock valued at $1,167,000 after buying an additional 9,496 shares in the last quarter. BlackRock Advisors LLC increased its stake in shares of Agenus by 2.2% in the second quarter. BlackRock Advisors LLC now owns 34,250 shares of the company’s stock valued at $139,000 after buying an additional 722 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Agenus by 6.3% in the second quarter. Vanguard Group Inc. now owns 2,976,529 shares of the company’s stock valued at $12,055,000 after buying an additional 176,136 shares in the last quarter. Blair William & Co. IL increased its stake in shares of 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 in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 40.63% of the company’s stock.
Agenus Company Profile
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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