On May 26, 2023, EF Hutton analyst Tony Butler reaffirmed his positive outlook on Agenus (NASDAQ:AGEN), maintaining a Buy rating and a price target of $8.3. This is not the first time that EF Hutton has expressed confidence in Agenus, as analyst Michael King initiated coverage on December 22, 2022 with a Buy rating and a price target of $8. Other analysts, including B. Riley, EF Hutton Acquisition Co. I, and HC Wainwright, have also weighed in on Agenus within the past 90 days. TipRanks reports that the stock forecast and analyst price target predictions for AGEN are based on the opinions of three analysts who have offered 12-month price targets in the last three months.
AGEN Stock Report: Negative Earnings and Revenue Growth in 2022
On May 26, 2023, AGEN stock opened at 1.41 and had a day’s range of 1.38 – 1.44, with a volume of 36,767. The market cap for AGEN was $484.9M. AGEN’s earnings growth was negative in the previous year, standing at -641.84%, and its revenue growth was negative last year, with a growth rate of -66.85%. AGEN’s P/E ratio was not available, and the price/book ratio was not available. AGEN’s stock performance was mixed compared to other companies in the biotechnology industry. AGEN’s next reporting date was August 10, 2023, with an EPS forecast of -$0.20 for this quarter. AGEN operates in the health technology sector, specifically in the biotechnology industry.
AGEN Stock Performance: Strong Pipeline and Collaborations Drive Optimism for Future Prospects
AGEN stock performances on May 26, 2023, were closely watched by investors and analysts alike. The company had recently released its quarterly earnings report, which showed that earnings per share were at -$0.20 and sales were at $24.0M. While the earnings were not as strong as expected, the sales figures were in line with market estimates.
Despite the mixed earnings report, AGEN stock remained strong on May 26, 2023, with a median target of 8.00, according to the four analysts offering 12-month price forecasts for Agenus Inc.
The positive outlook for AGEN stock was attributed to the company’s strong pipeline of immunotherapy drugs, which were expected to receive FDA approval in the coming months.
Investors were also encouraged by Agenus Inc’s recent collaborations with other pharmaceutical companies, which were expected to accelerate the development and commercialization of its immunotherapy drugs.
Overall, AGEN stock performances on May 26, 2023, were positive, with investors and analysts optimistic about the company’s future prospects. The strong pipeline of immunotherapy drugs, coupled with the recent collaborations with leading pharmaceutical companies, were expected to drive growth and profitability for Agenus Inc in the coming years. Investors were advised to buy stock in AGEN, with a long-term investment horizon.
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