Baird Lifts Agenus (AGEN) PT to $6, Maintains Neutral Rating

On June 4, Baird increased its price target for Agenus Inc. (NASDAQ:AGEN) to $6 from $4, while maintaining a Neutral rating on the shares.

This adjustment reflects an updated financial model following Agenus’s receipt of a $91 million upfront payment from its collaboration with Zydus. Zydus is an Indian multinational pharmaceutical company known for its integrated global healthcare presence.

A research doctor, looking intently at their microscope as they try to decipher the mysteries of immuno-oncology.

For the first quarter of 2025, the company reported revenue of $24.1 million,which was a decrease from $28 million in Q1 2024. The net loss for Q1 2025 was $1.03 per share, which is an improvement compared to a net loss of $3.04 per share in Q1 2024. Agenus also presented new BOT/BAL data demonstrating durable responses in historically untreatable cold tumors, which suggested promising therapeutic potential.

Agenus strengthened its leadership by hiring Dr. Richard Goldberg, who is an expert in GI oncology, to guide the company’s regulatory path. However, there is a concern that the FDA previously made an erroneous judgment regarding Agenus’s data, which could impact the approval timeline for the company’s therapies now.

Agenus Inc. (NASDAQ:AGEN) is a clinical-stage biotechnology company that discovers and develops therapies to activate the body’s immune system against cancer and infections internationally.

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Disclosure: None. This article is originally published at Insider Monkey.