Analyst Emily Bodnar from H.C. Wainwright maintained a Buy rating on Agenus and keeping the price target at $25.00.
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Emily Bodnar’s rating is based on the promising clinical data and strategic advancements made by Agenus. The updated Phase 1 trial results for the bot/bal combination therapy in MSS-CRC patients showed encouraging efficacy, with a two-year survival rate of 42% and a median overall survival of 20.9 months. These results, despite a slight reduction in the overall response rate, demonstrate the durability and potential of the treatment in a challenging patient population.
Moreover, the alignment with the FDA on the Phase 3 trial design and the omission of a bot monotherapy arm are significant milestones. The simplified trial design is expected to keep costs low and facilitate faster enrollment, while the FDA’s positive sentiment towards bal’s clinical activity supports the therapy’s potential. Additionally, Agenus’s plan to utilize expedited regulatory pathways could further accelerate the development process, enhancing the stock’s attractiveness to investors.
In another report released on July 1, B.Riley Financial also maintained a Buy rating on the stock with a $8.00 price target.