argenex (NASDAQ:ARGX) Stock Rating Upgraded by Wall Street Zen

argenex (NASDAQ:ARGX) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday, Wall Street Zen reports.

ARGX has been the topic of several other reports. Jefferies Financial Group reissued a “buy” rating on shares of argenex in a research report on Monday, September 14th. The Goldman Sachs Group restated a “buy” rating on shares of argenex in a research note on Friday, September 25th. Citigroup lifted their target price on shares of argenex from $1,152.00 to $1,182.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Piper Sandler upped their price target on shares of argenex from $1,075.00 to $1,215.00 and gave the company an “overweight” rating in a research note on Monday, August 17th. Finally, Truist Financial increased their price target on shares of argenex from $1,030.00 to $1,095.00 and gave the company a “buy” rating in a report on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $1,151.95.

argenex Price Performance

NASDAQ:ARGX opened at $819.14 on Friday. The stock’s 50 day moving average price is $956.23 and its two-hundred day moving average price is $881.97. The firm has a market capitalization of $51.52 billion, a price-to-earnings ratio of 31.46, a P/E/G ratio of 0.75 and a beta of 0.44. argenex has a 12-month low of $661.85 and a 12-month high of $1,072.75.

argenex (NASDAQ:ARGX) last issued its earnings results on Tuesday, July 21st. The company reported $7.32 EPS for the quarter, topping 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 company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.45 billion. Equities research analysts expect that argenex will post 28.71 EPS for the current year.

Institutional Investors Weigh In On argenex

Several institutional investors and hedge funds have recently bought and sold shares of the company. Burns Matteson Capital Management LLC bought a new position in argenex in the third quarter valued at approximately $512,000. Assenagon Asset Management S.A. lifted its stake in argenex by 120.3% during the third quarter. Assenagon Asset Management S.A. now owns 36,417 shares of the company’s stock worth $34,921,000 after purchasing an additional 19,886 shares during the last quarter. Gunderson Capital Management LLC bought a new stake in argenex during the third quarter worth $5,828,000. Nvwm LLC lifted its stake in argenex by 1.3% during the third quarter. Nvwm LLC now owns 1,538 shares of the company’s stock worth $1,475,000 after purchasing an additional 20 shares during the last quarter. Finally, Mather Group LLC. boosted its holdings in shares of argenex by 19.1% in the 3rd quarter. Mather Group LLC. now owns 81 shares of the company’s stock valued at $78,000 after purchasing an additional 13 shares in the last quarter. Institutional investors own 60.32% of the company’s stock.

About argenex

argenx SE (NASDAQ: ARGX) is a global immunology company focused on developing and commercializing therapies for patients with severe autoimmune diseases. The company uses its antibody engineering capabilities to discover and advance medicines designed to target disease-causing immune mechanisms.

argenx’s lead product is VYVGART (efgartigimod alfa), an antibody fragment that targets the neonatal Fc receptor, or FcRn, to reduce levels of disease-causing immunoglobulin G antibodies. VYVGART is approved in several markets for the treatment of generalized myasthenia gravis.