argenex (NASDAQ:ARGX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of argenex (NASDAQ:ARGX) from a hold rating to a buy rating in a report released on Sunday morning,Wall Street Zen reports.

ARGX has been the subject of a number of other reports. Robert W. Baird increased their target price on shares of argenex from $867.00 to $932.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Piper Sandler boosted their price target on argenex from $1,075.00 to $1,215.00 and gave the company an “overweight” rating in a report on Monday, August 17th. Truist Financial upped their price target on argenex from $1,030.00 to $1,095.00 and gave the company a “buy” rating in a research report on Tuesday, August 18th. Deutsche Bank Aktiengesellschaft cut argenex from a “buy” rating to a “hold” rating in a report on Monday, August 24th. Finally, Bank of America lifted their price objective on argenex from $1,016.00 to $1,088.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, argenex has a consensus rating of “Moderate Buy” and a consensus price target of $1,158.61.

argenex Stock Down 2.5%

Shares of NASDAQ ARGX opened at $1,007.07 on Friday. The firm’s fifty day moving average is $930.46 and its 200 day moving average is $844.09. argenex has a 52 week low of $661.85 and a 52 week high of $1,072.75. The company has a market cap of $63.00 billion, a price-to-earnings ratio of 38.67, a PEG ratio of 1.07 and a beta of 0.47.

argenex (NASDAQ:ARGX) last announced its quarterly earnings results 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. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.45 billion. argenex had a net margin of 32.19% and a return on equity of 43.59%. Equities research analysts anticipate that argenex will post 29.13 earnings per share for the current year.

Institutional Investors Weigh In On argenex

Several hedge funds have recently added to or reduced their stakes in the stock. Whipplewood Advisors LLC bought a new position in shares of argenex during the first quarter valued at $28,000. Eastern Bank bought a new stake in argenex during the 2nd quarter valued at about $32,000. Sunbelt Securities Inc. bought a new stake in argenex during the 3rd quarter valued at about $36,000. Axiom Investment Management LLC purchased a new position in argenex in the first quarter worth about $50,000. Finally, WPG Advisers LLC raised its holdings in argenex by 17.8% in the first quarter. WPG Advisers LLC now owns 86 shares of the company’s stock worth $63,000 after buying an additional 13 shares during the last quarter. 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.