StockNews.com Downgrades Agenus (NASDAQ:AGEN) to Sell

StockNews.com cut shares of Agenus (NASDAQ:AGEN) from a hold rating to a sell rating in a research note issued to investors on Monday.

A number of other research analysts have also recently weighed in on AGEN. Baird R W cut shares of Agenus from a strong-buy rating to a hold rating in a research note on Friday, July 19th. Robert W. Baird downgraded Agenus from an outperform rating to a neutral rating and lowered their price objective for the company from $35.00 to $8.00 in a research report on Friday, July 19th. HC Wainwright cut Agenus from a buy rating to a neutral rating and cut their target price for the stock from $40.00 to $9.00 in a research report on Thursday, July 18th. Jefferies Financial Group reissued a hold rating and issued a $7.00 price target (up from $3.00) on shares of Agenus in a report on Friday, July 19th. Finally, William Blair lowered shares of Agenus from an outperform rating to a market perform rating in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $10.50.

Agenus Stock Up 12.9 %

Shares of AGEN opened at $5.17 on Monday. The business has a 50-day simple moving average of $11.35 and a two-hundred day simple moving average of $11.84. Agenus has a 52 week low of $4.41 and a 52 week high of $32.00. The stock has a market cap of $108.56 million, a price-to-earnings ratio of -0.40 and a beta of 1.33.

Agenus (NASDAQ:AGEN) last released its earnings results on Thursday, August 8th. The biotechnology company reported ($2.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.33) by ($1.19). The company had revenue of $23.51 million for the quarter, compared to the consensus estimate of $64.73 million. During the same period last year, the company earned ($4.00) earnings per share. On average, equities analysts anticipate that Agenus will post -10.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Point72 DIFC Ltd purchased a new stake in Agenus during the second quarter valued at approximately $51,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Agenus during the 2nd quarter valued at about $106,000. Blair William & Co. IL purchased a new position in shares of Agenus during the second quarter valued at approximately $441,000. Squarepoint Ops LLC bought a new position in shares of Agenus during the second quarter valued at approximately $614,000. Finally, Ovata Capital Management Ltd purchased a new position in Agenus during the 2nd quarter valued at $670,000. 61.46% of the stock is currently owned by institutional investors.

About Agenus

Agenus Inc, a clinical-stage biotechnology company, discovers and develops immuno-oncology products in the United States and internationally. The company offers Retrocyte Display, an antibody expression platform for the identification of fully human and humanized monoclonal antibodies; and display technologies.