William Blair analyst Matt Phipps has maintained their neutral stance on AGEN stock, giving a Hold rating on August 1.
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Matt Phipps has given his Hold rating due to a combination of factors surrounding Agenus’s recent developments and future plans. The company has secured a partnership with Zydus, which provides a significant cash infusion of $91 million upfront, with potential for additional payments. This financial boost is intended to support the advancement of their BOT/BAL therapy in metastatic colorectal cancer.
Despite this positive development, the requirement from the FDA for a randomized controlled Phase III trial presents a challenge. The trial will focus on a specific patient population, and there is concern about achieving statistical significance, especially given the high percentage of patients with liver metastases, which typically have poorer outcomes. These uncertainties contribute to the Hold rating, as they present potential risks that could impact the therapy’s success and, consequently, the company’s stock performance.
In another report released on August 1, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $5.50 price target.