argenx (NASDAQ:ARGX) Upgraded to Buy at Zacks Investment Research

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argenx (NASDAQ:ARGX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, Zacks.com reports. The brokerage currently has a $138.00 price objective on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 9.58% from the stock’s previous close.

According to Zacks, “argenx SE is a biopharmaceutical company. It focuses on developing antibody-based therapies for the treatment of autoimmune diseases and cancer. The company’s product pipeline consists of ARGX-113, ARGX-110 and ARGX-111 which are in clinical trials. argenx SE is based in Breda, the Netherlands. “

A number of other equities research analysts also recently weighed in on ARGX. Guggenheim initiated coverage on argenx in a research report on Friday, February 22nd. They set a “buy” rating and a $157.00 target price for the company. Stifel Nicolaus set a $154.00 target price on argenx and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Wedbush boosted their target price on argenx from $131.00 to $144.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Finally, Piper Jaffray Companies boosted their target price on argenx from $161.00 to $182.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Fourteen investment analysts have rated the stock with a buy rating, argenx has a consensus rating of “Buy” and an average price target of $147.45.

argenx stock traded up $3.10 on Thursday, reaching $125.94. The company’s stock had a trading volume of 171,754 shares, compared to its average volume of 187,551. The firm has a market cap of $3.85 billion, a P/E ratio of -53.59 and a beta of 1.22. argenx has a twelve month low of $63.81 and a twelve month high of $137.50.

Several hedge funds have recently added to or reduced their stakes in ARGX. JPMorgan Chase & Co. raised its position in shares of argenx by 1,715.2% during the third quarter. JPMorgan Chase & Co. now owns 15,429 shares of the company’s stock worth $1,170,000 after acquiring an additional 14,579 shares during the last quarter. TD Asset Management Inc. increased its holdings in argenx by 7.5% in the fourth quarter. TD Asset Management Inc. now owns 49,978 shares of the company’s stock valued at $4,801,000 after purchasing an additional 3,500 shares during the last quarter. New York State Common Retirement Fund increased its holdings in argenx by 31.3% in the fourth quarter. New York State Common Retirement Fund now owns 75,820 shares of the company’s stock valued at $7,284,000 after purchasing an additional 18,079 shares during the last quarter. BlackRock Inc. bought a new stake in argenx in the fourth quarter valued at about $23,999,000. Finally, Artal Group S.A. increased its holdings in argenx by 45.9% in the fourth quarter. Artal Group S.A. now owns 270,000 shares of the company’s stock valued at $25,939,000 after purchasing an additional 85,000 shares during the last quarter. Institutional investors own 68.09% of the company’s stock.

About argenx

argenx SE, a clinical-stage biopharmaceutical company, focuses on developing antibody-based therapies for the treatment of autoimmune diseases and cancer. The company's lead product candidates include ARGX-113 that completed Phase 2 clinical trials for the treatment of autoimmune diseases, including myasthenia gravis, immune thrombocytopenia, and pemphigus vulgaris; and ARGX-110, which is in Phase 1/2 clinical trials for the treatment of T-cell lymphoma, acute myeloid leukemia, and myelodysplastic syndrome.

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