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UPDATE: H.C. Wainwright & Co. Initiates Coverage on Agenus Following 4-Antibody Acquisition

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In a report published Monday, H.C. Wainwright & Co. analyst Reni Benjamin initiated coverage on Agenus (NASDAQ: AGEN) with a Buy rating and $8.00 price target.

In the report, H.C. Wainwright & Co. noted, “We are initiating coverage of Agenus with a BUY rating and a target price of $8. In our opinion, the acquisition of 4-Antibody has propelled the company into the ever exciting field of checkpoint inhibitors. With the addition of 6 lead checkpoint programs, we believe Agenus could soon find itself in the cross hairs of other Pharma/Biotech acquirers. In addition, the company's proprietary personalized platform technology encompassing cancer and infectious disease vaccines as well as the partnered QS-21 program represent significant value drivers for investors.

"With a portfolio of diverse assets, a confluence of milestones anticipated over the next 12-18 months, and a cash position of $85 MM (proforma), we believe Agenus represents an undervalued player with significant upside for the long-term investor.”

Agenus closed on Friday at $3.88.

Latest Ratings for AGEN

DateFirmActionFromTo
Apr 2014McNicoll Lewis VlakMaintainsBuy
Feb 2014HC WainwrightInitiates Coverage onBuy
Jun 2013Maxim GroupInitiates Coverage onBuy

View More Analyst Ratings for AGEN
View the Latest Analyst Ratings

Posted-In: H.C. Wainwright & Co. Reni BenjaminAnalyst Color Initiation Analyst Ratings

 

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