Agenus (NASDAQ:AGEN) Research Coverage Started at Chardan Capital

Chardan Capital initiated coverage on shares of Agenus (NASDAQ:AGEN) in a research note issued to investors on Friday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $40.00 target price on the biotechnology company’s stock.

Several other equities research analysts also recently weighed in on the company. Weiss Ratings downgraded Agenus from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, August 21st. Wall Street Zen cut Agenus from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. B. Riley Financial reaffirmed a “buy” rating and issued a $14.00 price objective (up from $8.00) on shares of Agenus in a research report on Thursday, July 30th. Finally, HC Wainwright reiterated 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. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $26.33.

Agenus Trading Up 0.2%

Shares of NASDAQ:AGEN opened at $7.87 on Friday. The company has a market capitalization of $355.18 million, a price-to-earnings ratio of 3.05 and a beta of 1.38. Agenus has a 12 month low of $2.71 and a 12 month high of $8.85. The firm’s 50-day moving average is $7.08 and its 200 day moving average is $4.76.

Agenus (NASDAQ:AGEN) last posted its quarterly earnings data on Friday, August 7th. The biotechnology company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.06). Agenus had a negative return on equity of 47.68% and a net margin of 69.33%.The firm had revenue of $34.52 million during the quarter, compared to analysts’ expectations of $34.00 million. As a group, equities analysts forecast that Agenus will post -0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Agenus

A number of hedge funds have recently added to or reduced their stakes in AGEN. Globeflex Capital L P bought a new stake in shares of Agenus in the second quarter valued at about $1,281,000. Bank of New York Mellon Corp bought a new position in Agenus during the 2nd quarter worth about $311,000. Bank of America Corp DE grew its holdings in 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 acquiring an additional 105,536 shares in the last quarter. Redwood Family Wealth LLC purchased a new position in Agenus during the 4th quarter valued at about $44,000. Finally, Ovata Capital Management Ltd purchased a new position in Agenus during the 4th quarter valued at about $97,000. 61.46% of the stock is currently owned by institutional investors.

Agenus Company Profile

Agenus Inc (NASDAQ: AGEN) is a biotechnology company focused on developing immunotherapies for the treatment of cancer. Its research programs are designed to activate and direct the immune system against tumors, with an emphasis on therapies that may address immune resistance and improve responses in difficult-to-treat cancers.

The company’s pipeline has included checkpoint inhibitors, cancer vaccines, immune-stimulating adjuvants, bispecific antibodies and other antibody-based therapies.