Agenus Inc. (NASDAQ:AGEN) Stock Has Consensus Target Price of $24.50 According to Analysts

Shares of Agenus Inc. (NASDAQ:AGEN) have earned an average rating of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $24.50.

A number of equities analysts recently weighed in on AGEN shares. Chardan Capital reaffirmed a “buy” rating on shares of Agenus in a research report on Thursday, October 22nd. Wall Street Zen cut Agenus from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. HC Wainwright reissued a “buy” rating and set a $25.00 price objective (down from $30.00) on shares of Agenus in a research report on Tuesday, August 11th. B. Riley Financial reiterated a “buy” rating and issued a $14.00 price objective (up from $8.00) on shares of Agenus in a research note on Thursday, July 30th. Finally, Weiss Ratings upgraded Agenus from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, October 8th.

Hedge Funds Weigh In On Agenus

Several institutional investors have recently made changes to their positions in AGEN. Russell Investments Group Ltd. lifted its position in Agenus by 58.6% in the third quarter. Russell Investments Group Ltd. now owns 5,732 shares of the biotechnology company’s stock valued at $57,000 after acquiring an additional 2,118 shares during the last quarter. Everhart Financial Group Inc. acquired a new stake in Agenus in the 3rd quarter worth about $100,000. State of Wyoming acquired a new stake in Agenus during the third quarter worth approximately $225,000. Bank of New York Mellon Corp bought a new position in Agenus in the 2nd quarter worth about $311,000. Finally, Bank of America Corp DE lifted its position 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 valued at $397,000 after acquiring an additional 105,536 shares during the period. Hedge funds and other institutional investors own 61.46% of the company’s stock.

Agenus Price Performance

NASDAQ AGEN opened at $7.15 on Friday. Agenus has a 1-year low of $2.71 and a 1-year high of $10.31. The business has a 50 day simple moving average of $7.46 and a two-hundred day simple moving average of $5.01. The stock has a market capitalization of $322.89 million, a PE ratio of 10.83 and a beta of 1.53.

Agenus (NASDAQ:AGEN) last issued its earnings results on Thursday, November 5th. The biotechnology company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.30. Agenus had a negative return on equity of 47.68% and a net margin of 69.33%. The company had revenue of $31.49 million during the quarter, compared to the consensus estimate of $28.20 million. On average, analysts anticipate that Agenus will post -0.30 EPS for the current fiscal year.

About Agenus

Agenus Inc 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 a focus on therapies that may be used across multiple cancer types.

Agenus develops a range of therapeutic approaches, including immune checkpoint inhibitors, cancer vaccines, bispecific antibodies and other antibody-based treatments. Its pipeline has included investigational therapies targeting immune-regulating pathways, as well as combination regimens intended to improve treatment responses and address resistance to existing cancer therapies.

The company was founded in 1994 as Antigenics and adopted the Agenus name in 2011.