Zacks Investment Research Upgrades argenx (NASDAQ:ARGX) to Buy

Zacks Investment Research upgraded shares of argenx (NASDAQ:ARGX) from a hold rating to a buy rating in a research note published on Wednesday morning, Zacks.com reports. They currently have $284.00 price objective on the stock.

According to Zacks, “argenx SE is a biopharmaceutical company. It focuses on developing antibody-based therapies for the treatment of autoimmune diseases and cancer. The company’s product pipeline consists of ARGX-113, ARGX-110 and ARGX-111 which are in clinical trials. argenx SE is based in Breda, the Netherlands. “

A number of other equities analysts also recently issued reports on ARGX. HC Wainwright initiated coverage on argenx in a research report on Wednesday. They set a neutral rating and a $272.00 price objective for the company. Guggenheim reiterated a buy rating and issued a $225.00 price target (up from $201.00) on shares of argenx in a research report on Wednesday, May 27th. Piper Sandler lifted their price target on argenx from $198.00 to $258.00 in a research report on Tuesday, May 26th. Cowen reiterated a buy rating on shares of argenx in a research report on Wednesday, June 17th. Finally, SunTrust Banks lifted their price target on argenx from $192.00 to $240.00 and gave the company a buy rating in a research report on Wednesday, May 27th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. argenx has a consensus rating of Buy and a consensus price target of $227.18.

Shares of NASDAQ:ARGX opened at $230.13 on Wednesday. The stock has a market capitalization of $10.82 billion, a price-to-earnings ratio of -48.65 and a beta of 1.22. argenx has a 1-year low of $103.75 and a 1-year high of $272.74. The company’s fifty day moving average is $237.95 and its two-hundred day moving average is $174.99.

argenx (NASDAQ:ARGX) last issued its earnings results on Thursday, May 14th. The company reported ($1.87) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.72) by ($0.15). The business had revenue of $21.15 million for the quarter, compared to the consensus estimate of $18.08 million. On average, sell-side analysts predict that argenx will post -9.99 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Comerica Bank boosted its stake in argenx by 5.2% during the 2nd quarter. Comerica Bank now owns 2,216 shares of the company’s stock valued at $575,000 after purchasing an additional 109 shares during the last quarter. Shilanski & Associates Inc. boosted its stake in argenx by 6.6% during the 2nd quarter. Shilanski & Associates Inc. now owns 1,628 shares of the company’s stock valued at $367,000 after purchasing an additional 101 shares during the last quarter. Altium Wealth Management LLC boosted its stake in argenx by 29.5% during the 2nd quarter. Altium Wealth Management LLC now owns 3,216 shares of the company’s stock valued at $724,000 after purchasing an additional 733 shares during the last quarter. Brinker Capital Inc. boosted its stake in argenx by 5.0% during the 2nd quarter. Brinker Capital Inc. now owns 2,830 shares of the company’s stock valued at $637,000 after purchasing an additional 135 shares during the last quarter. Finally, M&T Bank Corp purchased a new stake in argenx during the 2nd quarter valued at $330,000. Hedge funds and other institutional investors own 49.64% of the company’s stock.

argenx Company Profile

argenx SE, a clinical-stage biopharmaceutical company, focuses on developing antibody-based therapies for the treatment of autoimmune diseases and cancer. The company's lead product candidates include ARGX-113 that completed Phase 2 clinical trials for the treatment of autoimmune diseases, including myasthenia gravis, immune thrombocytopenia, and pemphigus vulgaris; and ARGX-110, which is in Phase 1/2 clinical trials for the treatment of T-cell lymphoma, acute myeloid leukemia, and myelodysplastic syndrome.

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