H.C. Wainwright analyst Emily Bodnar has maintained their neutral stance on AGEN stock, giving a Hold rating yesterday.
Emily Bodnar’s rating is based on Agenus’ recent strategic focus on cost reductions and the development of their bot/bal program in colorectal cancer (CRC). The company has implemented significant cost-saving measures, including a projected 60% reduction in annual external expenditures by 2025 and a transition of their CMC capabilities into a fee-for-service business. These efforts are expected to decrease the company’s cash burn significantly, with further reductions anticipated by mid-2025.
Additionally, while Agenus has highlighted promising developments in their CRC programs, including new investigator-sponsored trials and positive response rates in their NEST studies, the commercialization path for bot/bal remains unclear. The company’s focus on CRC and the shelving of other programs could limit its growth potential in the near term. These factors combined have led Emily Bodnar to issue a Hold rating, reflecting a cautious outlook on the stock’s immediate prospects.
According to TipRanks, Bodnar is an analyst with an average return of -5.8% and a 26.82% success rate. Bodnar covers the Healthcare sector, focusing on stocks such as AnaptysBio, Jasper Therapeutics, and Agenus.