In a report released today, Mayank Mamtani from B.Riley Financial reiterated a Buy rating on Agenus (AGEN – Research Report), with a price target of $6.00.
Mayank Mamtani has given his Buy rating due to a combination of factors that underscore Agenus’s potential in the biopharmaceutical space. Mamtani is particularly optimistic about the company’s lead program, botensilimab (bot-bal), which is showing promise in clinical trials, suggesting a strong potential for accelerated approval. He points out that Agenus’s strategic focus on bot-bal, coupled with their financial strategies aimed at non-dilutive funding, could address any investor concerns regarding the company’s cash burn and recent reverse stock split. These efforts are seen as positive steps to solidify Agenus’s balance sheet while progressing botensilimab towards commercialization, especially given the encouraging preliminary data in multiple cancer indications.
Furthermore, Mamtani supports his Buy rating by highlighting Agenus’s broader research and development strategy, which includes a pipeline of Fc-enhanced checkpoint inhibitor antibodies. These next-generation therapies aim to create best-in-class, potentially chemo-free, immunotherapy regimens. Mamtani finds the evidence of in-human anti-tumor activity compelling and believes it is well-supported by recent developments in the checkpoint inhibitor landscape. He also notes the emerging leadership position of Agenus’s AGEN1777, an anti-TIGIT antibody, in the context of forthcoming clinical readouts from competitors in the lung cancer space. These factors collectively underscore Mamtani’s conviction in Agenus’s stock, leading to his recommendation of a Buy rating with a price target that suggests significant upside potential.
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Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AGEN in relation to earlier this year.
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Agenus (AGEN) Company Description:
Agenus, Inc. is a clinical-stage immuno-oncology company, which engages in the development and commercialization of technologies to treat cancers and infectious diseases. Its product pipeline includes AGEN1884, AGEN2034, INCAGN1876, INCAGN1949, Prophage, AutoSynVax, PhosphoSynVax, and AS-21 Stimulon. The company was founded by Garo H. Armen and Pramod K. Srivastava in March 1994 and is headquartered in Lexington, MA.
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