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Agenus

AGEN · NASDAQ

$6.42+$0.24 (+3.88%)TodayMarket closed ·
Prev close $6.18

AGEN analyst rating

BuyConsensus of 4 analysts over the last 12 months. 100% rate it a buy.
  • Strong buy0
  • Buy4
  • Hold0
  • Underperform0
  • Sell0

12-month price target · 5 analysts

Average $26.86 (+318.4% upside)

Low
$14.14
Now
$6.42
High
$42.00

Upgrades and downgrades

The latest rating actions, newest first

AGEN analyst upgrades, downgrades and rating actions
FirmDateActionRating
Chardan CapitalOct 5, 2026MaintainsBuy
Rodman & RenshawSep 28, 2026InitiatesBuy
Chardan CapitalSep 18, 2026InitiatesBuy
HC Wainwright & Co.Aug 11, 2026MaintainsBuy
B. Riley SecuritiesJul 30, 2026MaintainsBuy
HC Wainwright & Co.Jul 13, 2026MaintainsBuy

The case for and against

Updated Oct 15, 2026

Bull case

Agenus is attractive because botensilimab plus balstilimab is showing unusually durable benefit in hard-to-treat cancers, with the ovarian cohort reporting estimated 48% overall survival at both two and three years despite a median of four prior lines of therapy and only 23% ORR. The investment case is strengthened by consistent signals across MSS colorectal and ovarian tumors that the regimen may generate a survival tail beyond conventional response and PFS metrics, while safety has remained consistent with no treatment-related deaths reported. Financially, an $85M upfront raise expected to fund operations through 3Q27, with up to $255M more from milestone-aligned warrants, reduces near-term financing risk and gives the company more runway to advance ROBBIN and other catalysts.

Bear case

Agenus is a pre-commercial biotech whose valuation is heavily dependent on BOT+BAL, but that program’s registrational path hinges on ROBBIN delivering a statistically and clinically meaningful EFS benefit after only earlier pathologic-response and ctDNA signals. The investment case is weakened by substantial execution, regulatory, and competitive risk: an ~850-patient global Phase 3 is operationally complex, competing MSS CRC regimens are advancing, and a failure to separate on efficacy, safety, or convenience would sharply reduce BOT+BAL’s strategic value. Financially, 2Q26 cash was $18.7M, operating expenses were $23.2M, and even with $85M of financing and potential $255M warrant proceeds, the company still faces meaningful dilution and possible future capital raises.

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