argenex (NASDAQ:ARGX) Downgraded by Wall Street Zen to “Hold”

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

ARGX has been the subject of a number of other research reports. DZ Bank raised argenex to a “strong-buy” rating in a research note on Friday, December 19th. Guggenheim restated a “buy” rating and set a $1,070.00 price target on shares of argenex in a report on Thursday, September 18th. Weiss Ratings restated a “hold (c)” rating on shares of argenex in a report on Wednesday, October 8th. Piper Sandler lifted their price target on shares of argenex from $820.00 to $930.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Finally, Stifel Nicolaus increased their target price on argenex from $1,028.00 to $1,248.00 and gave the company a “buy” rating in a report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, argenex has a consensus rating of “Moderate Buy” and a consensus price target of $986.72.

argenex Stock Down 0.9%

Shares of NASDAQ:ARGX opened at $788.49 on Friday. argenex has a 52 week low of $510.05 and a 52 week high of $934.62. The company’s fifty day moving average is $870.63 and its 200 day moving average is $754.75. The stock has a market cap of $48.55 billion, a PE ratio of 33.86, a PEG ratio of 0.50 and a beta of 0.38.

argenex (NASDAQ:ARGX) last posted its quarterly earnings results on Thursday, October 30th. The company reported $4.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.37 by $0.03. argenex had a return on equity of 29.78% and a net margin of 41.58%.The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.07 billion. Sell-side analysts anticipate that argenex will post 3.13 EPS for the current year.

Institutional Investors Weigh In On argenex

Several large investors have recently made changes to their positions in ARGX. Wellington Management Group LLP raised its holdings in shares of argenex by 80.1% during the 3rd quarter. Wellington Management Group LLP now owns 729,986 shares of the company’s stock worth $538,408,000 after acquiring an additional 324,653 shares in the last quarter. Two Sigma Investments LP boosted its holdings in argenex by 570.3% during the 3rd quarter. Two Sigma Investments LP now owns 294,160 shares of the company’s stock valued at $216,961,000 after acquiring an additional 250,278 shares during the period. Adage Capital Partners GP L.L.C. grew its holdings in shares of argenex by 114.3% in the second quarter. Adage Capital Partners GP L.L.C. now owns 297,113 shares of the company’s stock worth $163,775,000 after purchasing an additional 158,476 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of argenex by 103.9% during the second quarter. Franklin Resources Inc. now owns 279,803 shares of the company’s stock valued at $154,233,000 after acquiring an additional 142,606 shares in the last quarter. Finally, Woodline Partners LP lifted its holdings in shares of argenex by 320.8% in the 3rd quarter. Woodline Partners LP now owns 169,476 shares of the company’s stock worth $124,999,000 after buying an additional 129,205 shares during the period. 60.32% of the stock is owned by institutional investors.

argenex Company Profile

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.