Agenus (AGEN) Cut to Hold at Zacks Investment Research

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Zacks Investment Research downgraded shares of Agenus (NASDAQ:AGEN) from a buy rating to a hold rating in a report published on Wednesday.

According to Zacks, “Agenus is advancing a combination study of CTLA-4 targeting antibody- AGEN-1884 and its own PD-1 targeting antibody -AGEN-2034 in second line cervical cancer and a filing is expected as early as 2020. The company filed three investigational new drugs (INDs) in 2018 and three additional INDs will be filed by the end of the year. The company also delivered on its partnership commitments with Merck and Incyte with two programs in the clinic this year and a third expected before the end of the year, each triggering a cash milestone. With no approved product in its portfolio and only a few candidates in mid-stages of development including Prophage Series vaccine, the company is still a few years away from bringing a product to market. Meanwhile, shares have underperformed the industry so far this year. Loss estimates have remained stable ahead of the Q3 earnings release.”

Separately, BidaskClub cut Agenus from a strong-buy rating to a buy rating in a report on Monday, June 18th.

Agenus stock opened at $1.95 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of -0.11. Agenus has a 52 week low of $1.55 and a 52 week high of $6.19. The firm has a market cap of $242.42 million, a PE ratio of -1.59 and a beta of 1.84.

Agenus (NASDAQ:AGEN) last posted its quarterly earnings results on Thursday, August 9th. The biotechnology company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.16. As a group, research analysts forecast that Agenus will post -1.2 EPS for the current year.

Several institutional investors have recently bought and sold shares of AGEN. Jane Street Group LLC bought a new stake in Agenus during the 2nd quarter worth $101,000. A.R.T. Advisors LLC bought a new stake in Agenus during the 1st quarter worth $103,000. Russell Investments Group Ltd. bought a new stake in Agenus during the 1st quarter worth $197,000. Blair William & Co. IL grew its position in Agenus by 46.6% during the 1st quarter. Blair William & Co. IL now owns 48,810 shares of the biotechnology company’s stock worth $230,000 after acquiring an additional 15,510 shares during the last quarter. Finally, Barclays PLC grew its position in Agenus by 95.8% during the 1st quarter. Barclays PLC now owns 73,955 shares of the biotechnology company’s stock worth $348,000 after acquiring an additional 36,179 shares during the last quarter. 35.33% of the stock is owned by institutional investors.

About Agenus

Agenus Inc, a clinical-stage immuno-oncology company, focuses on the discovery and development of therapies that engage the body's immune system to fight cancer. The company offers Retrocyte Display, an antibody discovery platform for the identification of fully-human and humanized monoclonal antibodies; SECANT yeast display, an antibody discovery platform used for the generation of novel monoclonal antibodies; and phage display technologies.

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