Zacks Investment Research Lowers argenx (NASDAQ:ARGX) to Sell

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Zacks Investment Research downgraded shares of argenx (NASDAQ:ARGX) from a hold rating to a sell rating in a research note released on Monday morning, Zacks.com reports.

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. “

ARGX has been the topic of a number of other reports. Wedbush lifted their price target on argenx from $144.00 to $170.00 and gave the company an outperform rating in a report on Friday, August 2nd. Robert W. Baird started coverage on argenx in a report on Thursday, June 27th. They issued an outperform rating and a $170.00 price target on the stock. Piper Jaffray Companies lifted their price target on argenx from $161.00 to $182.00 and gave the company an overweight rating in a report on Thursday, May 23rd. ValuEngine downgraded argenx from a buy rating to a hold rating in a report on Thursday, August 1st. Finally, Morgan Stanley lifted their price target on argenx from $143.00 to $173.00 and gave the company an overweight rating in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company. The company has an average rating of Buy and a consensus target price of $158.44.

Shares of NASDAQ:ARGX opened at $128.30 on Monday. argenx has a 12-month low of $63.81 and a 12-month high of $150.92. The business’s fifty day simple moving average is $134.57 and its 200-day simple moving average is $131.42. The company has a market capitalization of $4.76 billion, a PE ratio of -54.60 and a beta of 1.26. The company has a current ratio of 9.37, a quick ratio of 14.29 and a debt-to-equity ratio of 0.01.

Institutional investors have recently bought and sold shares of the company. Marshall Wace LLP acquired a new stake in shares of argenx in the 1st quarter worth $121,000. SG Americas Securities LLC acquired a new stake in shares of argenx in the 1st quarter worth $134,000. Flinton Capital Management LLC acquired a new stake in shares of argenx in the 2nd quarter worth $156,000. First Trust Advisors LP acquired a new stake in shares of argenx in the 2nd quarter worth $212,000. Finally, Shilanski & Associates Inc. acquired a new stake in shares of argenx in the 2nd quarter worth $215,000. 69.54% of the stock is owned by hedge funds and other institutional investors.

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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