Rodman & Renshaw Reiterates Outperform Rating on Agenus

Rodman & Renshaw is out with a research report this afternoon, where it reiterates its Outperform rating on Agenus Inc.

; it has a $2.00 price target on the stock. The R&R analysts cited the company's recent ASCO data, which updated survival results from an ongoing Phase 2 trial evaluating Prophage G-200, a patient-specific heat shock protein-based therapeutic vaccine, for the treatment of recurrent high-grade gliomas. As for valuation, the analysts remarked, “We are reiterating our Market Outperform / Speculative Risk rating on Agenus with a 12-month target price of $2, based on a comparable company analysis to value the oncology programs in combination with a net present value analysis for the potential contribution of future QS-21 royalty revenue to the company's valuation.”