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GlaxoSmithKline (GSK) Shingles Vaccine News a Win for Agenus (AGEN), Maxim Group Says; PT to $10

December 19, 2014 7:08 AM EST
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Price: $0.56 --0%

Rating Summary:
    12 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 10 | New: 11
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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.



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