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Rodman & Renshaw Reiterates Outperform Rating on Agenus

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Rodman & Renshaw is out with a research report this afternoon, where it reiterates its Outperform rating on Agenus Inc. (NASDAQ: AGEN); 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.”

 

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