argenex SE (NASDAQ:ARGX) Given Average Recommendation of “Moderate Buy” by Brokerages

argenex SE (NASDAQ:ARGX) has received a consensus rating of “Moderate Buy” from the twenty-four brokerages that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, eighteen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $1,023.3889.

Several brokerages have recently weighed in on ARGX. HC Wainwright reaffirmed a “buy” rating and issued a $940.00 price target on shares of argenex in a research report on Thursday, June 25th. Glj Research raised shares of argenex to a “strong-buy” rating in a research note on Friday, April 3rd. Wedbush restated an “outperform” rating and set a $1,000.00 target price on shares of argenex in a report on Thursday, June 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of argenex in a research report on Monday, April 20th. Finally, Wall Street Zen downgraded argenex from a “buy” rating to a “hold” rating in a report on Sunday, March 8th.

argenex Trading Up 1.7%

Shares of argenex stock opened at $927.98 on Friday. The stock’s fifty day moving average price is $833.86 and its 200-day moving average price is $809.68. The firm has a market cap of $57.71 billion, a P/E ratio of 41.32, a P/E/G ratio of 1.39 and a beta of 0.47. argenex has a 12 month low of $536.02 and a 12 month high of $934.62.

argenex (NASDAQ:ARGX) last released its quarterly earnings data on Tuesday, March 31st. The company reported $5.52 earnings per share for the quarter. The company had revenue of $1.31 billion during the quarter. argenex had a net margin of 31.31% and a return on equity of 44.37%. Analysts forecast that argenex will post 26.19 earnings per share for the current year.

Hedge Funds Weigh In On argenex

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. lifted its stake in shares of argenex by 11.6% during the third quarter. American Century Companies Inc. now owns 229,770 shares of the company’s stock worth $169,474,000 after buying an additional 23,864 shares during the period. US Bancorp DE increased its position in shares of argenex by 37.2% in the 3rd quarter. US Bancorp DE now owns 7,073 shares of the company’s stock valued at $5,217,000 after acquiring an additional 1,919 shares during the period. Assenagon Asset Management S.A. purchased a new position in argenex in the 4th quarter worth $20,475,000. Sands Capital Management LLC purchased a new position in argenex in the 3rd quarter worth $12,262,000. Finally, Sivik Global Healthcare LLC acquired a new stake in argenex during the 4th quarter worth about $1,261,000. Hedge funds and other 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.