GlaxoSmithKline (GSK) Shingles Vaccine News a Win for Agenus (AGEN), Maxim Group Says; PT to $10
Get Alerts AGEN Hot Sheet
Rating Summary:
12 Buy, 1 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Join SI Premium – FREE
Maxim Group analyst Jason Kolbert reiterated a Buy rating and bumped his price target on Agenus Inc. (NASDAQ: AGEN) to $10.00 (from $9.00) after GlaxoSmithKline (NYSE: GSK) reported that its shingles vaccine, HZ/su, which incorporates Agenus' QS-21 adjuvent, produced a reduction in the risk of shingles by more than 97% in a long-term (four-year), 16,000-patient pivotal study (ZOE-50).
Kolbert commented, "This is a win for Agenus and QS-21. The adjuvant works in the shingles vaccine, a $750M market in which Agenus will likely be entitled to single-digit royalties from GSK. As such, we have modeled a 7% royalty to Agenus from GSK, which results in an increase in our 2015 price target from $9.00 to $10.00."
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 $3.93 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Safran SA (SAF:FP) (SAFRY) PT Raised to EUR211 at Citi, 'remain positive on the aftermarket'
- Talen Energy Corp (TLNE) PT Raised to $120 at BWS Financial
- Archrock (AROC) PT Raised to $21 at RBC Capital
Create E-mail Alert Related Categories
Analyst Comments, Analyst PT Change, FDARelated Entities
Maxim GroupSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!