Agenus (NASDAQ:AGEN) Given “Buy” Rating at Chardan Capital

Agenus (NASDAQ:AGEN)‘s stock had its “buy” rating restated by stock analysts at Chardan Capital in a research note issued to investors on Monday, Benzinga reports. They currently have a $40.00 price objective on the biotechnology company’s stock. Chardan Capital’s price target points to a potential upside of 428.40% from the stock’s previous close.

Several other equities analysts have also recently issued reports on AGEN. HC Wainwright restated a “buy” rating and set a $25.00 target price (down from $30.00) on shares of Agenus in a research note on Tuesday, August 11th. Weiss Ratings downgraded shares of Agenus from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, August 21st. Wall Street Zen cut shares of Agenus from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. B. Riley Financial reiterated a “buy” rating and set a $14.00 target price (up from $8.00) on shares of Agenus in a research note on Thursday, July 30th. Finally, Rodman & Renshaw assumed coverage on Agenus in a report on Monday, September 28th. They set a “buy” rating and a $19.00 price target on the stock. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $24.50.

Agenus Price Performance

AGEN stock traded up $0.08 during trading on Monday, hitting $7.57. 1,154,719 shares of the stock traded hands, compared to its average volume of 1,936,635. Agenus has a 1 year low of $2.71 and a 1 year high of $10.31. The stock has a market cap of $341.88 million, a price-to-earnings ratio of 2.93 and a beta of 1.31. The firm’s 50 day moving average is $7.83 and its two-hundred day moving average is $5.22.

Agenus (NASDAQ:AGEN) last issued its 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). The business had revenue of $34.52 million for the quarter, compared to analysts’ expectations of $34.00 million. Agenus had a net margin of 69.33% and a negative return on equity of 47.68%. As a group, analysts anticipate that Agenus will post -0.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Agenus

Several institutional investors and hedge funds have recently bought and sold shares of AGEN. Globeflex Capital L P bought a new position in shares of Agenus in the second quarter worth about $1,281,000. Bank of New York Mellon Corp bought a new position in shares of Agenus during the 2nd quarter valued at approximately $311,000. Bank of America Corp DE grew its stake in shares of Agenus by 796.7% during the 1st quarter. Bank of America Corp DE now owns 118,782 shares of the biotechnology company’s stock valued at $397,000 after acquiring an additional 105,536 shares during the period. Redwood Family Wealth LLC purchased a new stake in Agenus in the 4th quarter worth approximately $44,000. Finally, Ovata Capital Management Ltd bought a new stake in Agenus during the 4th quarter worth approximately $97,000. 61.46% of the stock is currently owned by hedge funds and other institutional investors.

About Agenus

Agenus Inc (NASDAQ: AGEN) is a biotechnology company focused on developing immunotherapies for the treatment of cancer. The company’s research programs are designed to activate and strengthen the immune system’s ability to recognize and attack tumors, with an emphasis on therapies that may be used alone or in combination.

Agenus’ pipeline includes botensilimab, an investigational Fc-enhanced CTLA-4 antibody, and balstilimab, an investigational PD-1 inhibitor. The company has studied these therapies in combination across several solid-tumor indications, including colorectal cancer and other advanced cancers.