William Blair Maintains Outperform On Agenus Following Positive Phase III Data From Shingles Vaccine

William Blair analyst John Sonnier maintained an Outperform rating on Agenus (NASDAQ:AGEN), as its partner GlaxoSmithKline (NYSE:GSK) reported positive Phase III results with an investigational shingles vaccine candidate in adults over the age of 50. No price target was provided.

Sonnier noted, “We are encouraged by the positive ZOE-50 Phase III trial results with the HZ/su vaccine in shingles, which provides significant protection over the current standard of care. In our view, the shingles vaccine represents a significant opportunity for Agenus because of the low-single-digit royalty rate the company is entitled to receive from future sales of HZ/su.”

The analyst concluded, “Given the potential for near-term catalysts in commercially attractive disease settings, we believe the Street is undervaluing the company’s broad range of clinical assets and that Agenus has the potential to significantly increase shareholder value over the next 12 to 18 months.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst John Sonnier has a total average return of 12.3% and a 50.0% success rate. Sonnier is ranked #779 out of 3417 analysts.

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