MLV Pounds the Table on Agenus Inc
MLV analyst Arlinda Lee was out pounding the table on Agenus Inc (NASDAQ:AGEN) Wednesday, reiterating a Buy rating and price target of $9.00, which implies an upside of 71% from current levels.
Lee wrote, "Agenus monetized its checkpoint target portfolio with the out-licensing of two targets to Merck & Co., Inc.(NYSE:MRK) in April 2014 and four targets to Incyte Corporation (NASDAQ:INCY) in January 2015. While both partnerships carry financial terms favorable to AGEN, the more important implication is validation of AGEN's R&D capabilities and the potential of its checkpoint portfolio. In 2015, we expect a number of catalysts and data readouts, particularly presentation the Ph2 Prophage data in newly diagnosed glioblastoma multiforme (GBM). The Company is also on track to file INDs for 2 checkpoint targets partnered with INCY."
According to TipRanks.com, which measures analysts' and bloggers' success rate based on how their calls perform, analyst Arlinda Lee has a total average return of 7.8% and a 56.1% success rate. Lee has a 12.7% average return when recommending AGEN, and is ranked #1053 out of 3546 analysts.