Agenus Inc (NASDAQ:AGEN) Receives “Buy” Rating

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Dallas, Texas 03/26/2014 (FINANCIALSTRENDS) – Maxim Group has reaffirmed their “buy” rating on Agenus Inc (NASDAQ:AGEN) shares in the report that was issued to investors. The company has been the subject of numerous other recent-research reports. The analysts at the MLV & Co. firm have upped their price target on Agenus Inc (NASDAQ:AGEN) shares from $9.00 up to $11.00 in the research note on 14 March. They have set a rating of “buy” on the company stock. The analysts at the HC Wainwright firm have initiated their coverage on Agenus Inc (NASDAQ:AGEN) shares in the research note on 24 February. They currently have a rating of “buy” on the stock with the price target of $8.00 on the stock.

Agenus Inc (NASDAQ:AGEN) last posted the company’s quarterly-earnings results on 5 March. It reported earnings per share of $0.16 for the quarter, which beat the average analyst projection of $0.24 by $0.08. Agenus Inc (NASDAQ:AGEN) reported revenue of $393.00M for the quarter, in comparison to the average projection of $870.00 million. The analysts now expect that Agenus Inc (NASDAQ:AGEN) will post earnings per share of $-0.60 for the current financial year.

The company has also recently filed information about the reversal that it faced; in the phase-III trials that it had been pursuing for the company’s target drug used to treat lung cancer and are being tested in conjunction with GlaxoSmithKline.

The company’s Phase III had been conducted by GlaxoSmithKline and it had reported that the top line results for 2 of the parameters had not met the end goal-objectives.

The 3rd party evaluators had initially determined that all the data that had been collected was actually supportive of continuation of this trail in and would meet the 3rd was met, it would mean that the test drug compound might still hold commercial-value to both the companies.

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