Agenus (AGEN) Worth Watching: Stock Soars 28.7% – Tale of the Tape

January 12, 2015 Technicals 0

Zacks

Agenus Inc. (AGEN) was a big mover last session with its shares surging nearly 29% on the day. The upside was owing to a joint announcement with Incyte Corporation (INCY), regarding a global license, development and commercialization agreement focused on novel immuno-therapeutics. Per the deal, Incyte will have access to Agenus’ proprietary Retrocyte Display platform for the discovery of additional therapeutic antibodies. This development led to far more shares changing hands yesterday than in a normal session. This continues the recent uptrend of the company as the stock has gained roughly 62% in the past one-month time frame.

This biopharmaceutical company has seen no estimate revision in the last 60 days. However, the Zacks Consensus Estimate has moved higher over the same period. This implies solid trading potential for the company. So make sure to keep an eye on this stock going forward to see if Friday’s climb can turn into more strength down the road.

Agenus currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

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