Agenus (NASDAQ:AGEN) Stock Rated Buy in New Coverage at Rodman & Renshaw

Rodman & Renshaw assumed coverage on shares of Agenus (NASDAQ:AGEN) in a report published on Monday morning, MarketBeat reports. The firm issued a buy rating and a $19.00 target price on the biotechnology company’s stock.

Several other analysts have also recently issued reports on the company. Chardan Capital began coverage on Agenus in a research report on Friday, September 18th. They set a “buy” rating and a $40.00 target price on the stock. Weiss Ratings lowered Agenus from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, August 21st. Wall Street Zen cut Agenus from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. B. Riley Financial reaffirmed a “buy” rating and set 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. Four 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, Agenus presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.50.

Agenus Price Performance

AGEN stock opened at $9.93 on Monday. Agenus has a 1-year low of $2.71 and a 1-year high of $10.31. The business has a 50-day moving average price of $7.67 and a 200 day moving average price of $5.09. The company has a market capitalization of $448.44 million, a P/E ratio of 3.85 and a beta of 1.38.

Agenus (NASDAQ:AGEN) last posted 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 net margin of 69.33% and a negative return on equity of 47.68%. The business had revenue of $34.52 million during the quarter, compared to the consensus estimate of $34.00 million. On average, analysts anticipate that Agenus will post -0.3 earnings per share for the current fiscal year.

Institutional Trading of Agenus

A number of institutional investors have recently made changes to their positions in AGEN. Globeflex Capital L P purchased a new stake in Agenus in the second quarter valued at about $1,281,000. Bank of New York Mellon Corp acquired a new stake in Agenus in the second quarter worth about $311,000. Bank of America Corp DE grew its stake in shares of Agenus by 796.7% during the first 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 during the last quarter. Ovata Capital Management Ltd purchased a new stake in shares of Agenus during the fourth quarter worth about $97,000. Finally, Redwood Family Wealth LLC acquired a new position in shares of Agenus during the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 61.46% of the company’s stock.

About Agenus

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.