B. Riley FBR analyst Harshita Polishetty initiated coverage of Agenus with a Buy rating and $5 price target. The company's in-house capabilities allow for multiple large pharma collaborations, Polishetty tells investors in a research note. Further, the analyst believes Agenus' wholly owned anti-PD-1 and anti-CTLA-4 candidates will allow for competitive pricing when both products ultimately reach the market. It is also developing potential off-the-shelf cancer vaccines and adoptive cell therapies, which can be used in combination with the company's antibody platform to find the optimal combination for different cancers, Polishetty says.