Oppenheimer Has Positive Views on Agenus' (AGEN) Phoslmmune Acquisition - Reiterates Outperform

Oppenheimer reiterated an Outperform rating and $14.00 price target on Agenus Inc. (NASDAQ: AGEN) following the company's December 23rd acquisition of PhosImmune. Oppenheimer views this acquisition as positive, and expects synergies with Agenus' AutoSynVax program, including the expansion of Agenus' vaccine portfolio to incorporate PhosImmune's neoantigen targets.

Analyst Christopher Marai commented, "On December 23, Agenus acquired PhosImmune, which has a portfolio of cancer neoantigens. We view this acquisition as positive, and expect synergies with Agenus' AutoSynVax program, including the expansion of Agenus' vaccine portfolio to incorporate PhosImmune's neoantigen targets. We expect to see preclinical data flow from assets developed from this acquisition in 2017. Agenus has continued making progress with its Prophage vaccine throughout 2015. We expect Agenus to initiate a Phase 3 study of its Prophage vaccine for the treatment of GBM in the next few months, and a Phase 2 study evaluating Prophage in combination with ipilimumab should start recruiting shortly. We reiterate our Outperform rating and $14 PT."

For an analyst ratings summary and ratings history on Agenus Inc. click here. For more ratings news on Agenus Inc. click here.

Shares of Agenus Inc. closed at $4.65 yesterday.

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