argenex (NASDAQ:ARGX) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of argenex (NASDAQ:ARGX) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

Several other research firms have also recently weighed in on ARGX. Robert W. Baird boosted their price target on shares of argenex from $867.00 to $932.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Citizens Jmp increased their price objective on shares of argenex from $932.00 to $1,200.00 and gave the company a “market outperform” rating in a research note on Tuesday, August 18th. Morgan Stanley lifted their target price on shares of argenex from $1,200.00 to $1,230.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 18th. Weiss Ratings downgraded argenex from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft lowered argenex from a “buy” rating to a “hold” rating in a report on Monday, August 24th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,157.50.

argenex Trading Down 3.4%

Shares of argenex stock opened at $1,023.21 on Friday. The stock has a fifty day simple moving average of $910.13 and a 200 day simple moving average of $834.13. argenex has a 12-month low of $661.85 and a 12-month high of $1,061.57. The company has a market capitalization of $64.01 billion, a P/E ratio of 39.29, a price-to-earnings-growth ratio of 1.06 and a beta of 0.46.

argenex (NASDAQ:ARGX) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $7.32 earnings per share for the quarter, beating the consensus estimate of $5.86 by $1.46. argenex had a return on equity of 43.59% and a net margin of 32.19%.The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.45 billion. On average, analysts predict that argenex will post 29.04 EPS for the current year.

Institutional Trading of argenex

Hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased its stake in shares of argenex by 32.1% during the 1st quarter. AQR Capital Management LLC now owns 502 shares of the company’s stock worth $297,000 after purchasing an additional 122 shares during the last quarter. NewEdge Advisors LLC grew its holdings in argenex by 5,962.5% during the first quarter. NewEdge Advisors LLC now owns 1,455 shares of the company’s stock valued at $862,000 after purchasing an additional 1,431 shares during the period. Focus Partners Wealth grew its holdings in argenex by 22.3% during the first quarter. Focus Partners Wealth now owns 400 shares of the company’s stock valued at $237,000 after purchasing an additional 73 shares during the period. Geneos Wealth Management Inc. grew its holdings in argenex by 550.0% during the first quarter. Geneos Wealth Management Inc. now owns 117 shares of the company’s stock valued at $69,000 after purchasing an additional 99 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in argenex by 60.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 133 shares of the company’s stock worth $73,000 after buying an additional 50 shares during the last quarter. Institutional investors own 60.32% of the company’s stock.

About argenex

argenx (NASDAQ: ARGX) is a biotechnology company focused on the discovery, development and commercialization of antibody-based therapeutics for severe autoimmune and neuromuscular diseases. The company uses its proprietary SIMPLE Antibody platform to generate differentiated antibodies and engineered Fc regions, and it pursues mechanisms that modulate the neonatal Fc receptor (FcRn) to reduce pathogenic IgG levels. Argenx’s research and development activities span target identification, preclinical development and late-stage clinical programs aimed at addressing unmet needs in immunology.

The company’s lead product, efgartigimod (marketed as Vyvgart), is an FcRn antagonist developed to reduce circulating IgG antibodies and treat IgG-mediated disorders.