Maxim Reiterates Buy On Agenus As Paradigm Shift Is Taking Hold In Immune-Based Therapeutics


In a research report issued today, Maxim Group analyst Jason Kolbert reiterated a Buy rating on Agenus (NASDAQ:AGEN) with a $9 price target, which represents a potential upside of 225% from where the stock is currently trading.

The following bullets contain some highlights from the report:

  • We see a paradigm shift taking hold in immune-based therapeutics and believe that Agenus is ideally positioned to create value in this emerging field. Evidence among the other companies we are following, such as Inovio (INO), Immunocellular (IMUC), and Oncosec (ONCS) is building around the utility of immunotherapy.
  • Early clinical data should raise interest in Agenus’ checkpoint inhibitor programs. Agenus’ products include heat shock proteins, an adjuvent (to magnify the immune response), and a group of checkpoint modulators, including GITR and OX40 agonists, and antagonists of TIM-3, LAG-3, PD-1, and CTLA-4.
  • As science advances, new development partnerships could be announced as early as next year. These would be in addition to the April 2014 collaboration with Merck (MRK) covering use of Agenus’ technology to generate new antibodies against Merck’s targets. Milestone payments from the collaboration are expected.
  • Data from GSK’s phase III trial using Agenus QS21 for shingles is expected within six months and, in July, Glaxo (GSK) filed for approval for a malaria vaccine (+QS21). QS21 generated a milestone payment and sets up future royalties.

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason Kolbert has a total average return of 2.0% and a 38.1% success rate. Kolbert has a -9.1% average return when recommending AGEN, and is ranked #1136 out of 3326 analysts.

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