argenex (NASDAQ:ARGX) Rating Increased to Strong-Buy at Zacks Research

argenex (NASDAQ:ARGX) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities research analysts have also issued reports on ARGX. Piper Sandler increased their price target on argenex from $750.00 to $820.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 26th. Guggenheim reiterated a “buy” rating and set a $1,070.00 target price on shares of argenex in a research report on Thursday, September 18th. Morgan Stanley lifted their target price on argenex from $700.00 to $766.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. HC Wainwright boosted their price target on argenex from $720.00 to $774.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Finally, Bank of America increased their price objective on shares of argenex from $880.00 to $887.00 and gave the company a “buy” rating in a report on Tuesday, September 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $789.20.

argenex Trading Down 0.8%

NASDAQ ARGX opened at $734.39 on Monday. argenex has a 12 month low of $510.05 and a 12 month high of $779.03. The stock has a market cap of $44.94 billion, a price-to-earnings ratio of 37.66, a PEG ratio of 0.81 and a beta of 0.41. The company’s 50 day moving average is $675.85 and its two-hundred day moving average is $612.79.

argenex (NASDAQ:ARGX) last posted its quarterly earnings results on Thursday, July 31st. The company reported $3.74 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.90. The business had revenue of $866.79 million during the quarter, compared to analyst estimates of $776.82 million. argenex had a net margin of 40.98% and a return on equity of 21.06%. Sell-side analysts forecast that argenex will post 3.13 EPS for the current year.

Hedge Funds Weigh In On argenex

A number of large investors have recently made changes to their positions in the company. Rakuten Securities Inc. grew its holdings in argenex by 56.4% during the 1st quarter. Rakuten Securities Inc. now owns 61 shares of the company’s stock valued at $36,000 after purchasing an additional 22 shares during the last quarter. WPG Advisers LLC bought a new position in shares of argenex during the first quarter valued at approximately $37,000. Golden State Wealth Management LLC purchased a new stake in shares of argenex in the first quarter worth approximately $44,000. Brooklyn Investment Group lifted its stake in shares of argenex by 102.7% during the 1st quarter. Brooklyn Investment Group now owns 75 shares of the company’s stock worth $44,000 after acquiring an additional 38 shares during the last quarter. Finally, MAI Capital Management boosted its holdings in argenex by 866.7% during the 2nd quarter. MAI Capital Management now owns 87 shares of the company’s stock valued at $48,000 after acquiring an additional 78 shares during the period. 60.32% of the stock is owned by hedge funds and other institutional investors.

About argenex

argenx SE, a biotechnology company, engages in the developing of various therapies for the treatment of autoimmune diseases in the United States, Japan, Europe, Middle East, Africa, and China. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, generalized myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, thyroid eye disease, bullous pemphigoid, myositis, primary sjögren’s syndrome, post-covid postural orthostatic tachycardia syndrome, membranous nephropathy, lupus nephropathy, anca-associated vasculitis, and antibody mediated rejection; ENHANZE SC; Empasiprubart for multifocal motor neuropath, delayed graft function, and dermatomyositis; and ARGX-119 for congenital myasthenic syndrome and amyotrophic lateral sclerosis.