In a research note released Tuesday, H.C. Wainwright analyst Reni Benjamin reiterated a Buy rating on Agenus Inc. (AGEN) with a price target of $6.00 following AGEN’s announcement of 24 months survival data from a phase 2 study of the company’s Prophage vaccine in newly diagnosed glioblastoma multiforme (GBM) patients.
Benjamin said, “We view this data with cautious optimism as it serves to validate the ongoing prophage variability in glioblastoma survival data seen to date. Nonetheless, with $64 MM in cash (pro forma), a growing pipeline of checkpoint inhibitors to enter the clinic in 2016, and the potential to secure a new partnership, we believe Agenus represents an undervalued player in the immune- oncology space”.
According to TipRanks, which measures analysts and bloggers success rate based on how their calls perform, analyst Reni Benjamin currently has a one-year average return of 5.8% and a 45% success rate. Benjamin has a -3.7% specifically when recommending AGEN, he is ranked #1381 out of 3152 analysts.