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 published on Saturday.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley boosted their price target on shares of argenex from $1,170.00 to $1,180.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. Wells Fargo & Company lifted their price objective on shares of argenex from $1,260.00 to $1,291.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Glj Research upgraded shares of argenex to a “strong-buy” rating in a research report on Friday, April 3rd. Wedbush reissued an “outperform” rating and set a $1,000.00 target price on shares of argenex in a research note on Thursday, June 11th. Finally, Bank of America increased their target price on argenex from $1,016.00 to $1,088.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,054.11.

argenex Trading Down 3.2%

NASDAQ ARGX opened at $888.82 on Friday. The stock’s 50-day moving average price is $870.53 and its two-hundred day moving average price is $815.82. The company has a market cap of $55.60 billion, a PE ratio of 34.13, a PEG ratio of 1.21 and a beta of 0.45. argenex has a 1 year low of $590.78 and a 1 year high of $953.58.

argenex (NASDAQ:ARGX) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $7.32 EPS for the quarter, beating analysts’ consensus estimates of $5.86 by $1.46. argenex had a net margin of 32.19% and a return on equity of 43.59%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.45 billion. Research analysts forecast that argenex will post 26.95 EPS for the current fiscal year.

Institutional Trading of argenex

A number of hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC grew its position in argenex by 3.4% during the first quarter. Janus Henderson Group PLC now owns 2,541,732 shares of the company’s stock valued at $1,847,592,000 after purchasing an additional 83,568 shares in the last quarter. M&T Bank Corp lifted its position in argenex by 20,977.7% in the 4th quarter. M&T Bank Corp now owns 778,610 shares of the company’s stock worth $654,772,000 after buying an additional 774,916 shares in the last quarter. Wellington Management Group LLP boosted its stake 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 valued at $538,408,000 after buying an additional 324,653 shares during the period. Morgan Stanley boosted its stake in shares of argenex by 19.2% during the 4th quarter. Morgan Stanley now owns 518,852 shares of the company’s stock valued at $436,331,000 after buying an additional 83,746 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of argenex by 390.4% during the 4th quarter. Invesco Ltd. now owns 416,408 shares of the company’s stock valued at $350,178,000 after buying an additional 331,489 shares during the period. 60.32% of the stock is owned by hedge funds and other institutional investors.

More argenex News

Here are the key news stories impacting argenex this week:

• Positive Sentiment: argenx agreed to acquire Forte Biosciences (NASDAQ: FBRX) for $77 per share in cash, representing an equity value of approximately $2.2 billion and a 41% premium to Forte’s prior closing price. The transaction gives argenx full ownership of FB102, an experimental autoimmune therapy. argenx acquisition announcement
• Positive Sentiment: FB102’s Phase 1b data in vitiligo and celiac disease reportedly support CD122 biology and a potential “pipeline-in-a-product” opportunity targeting pathogenic T-cell and NK-cell activity in diseases with significant unmet need. The acquisition broadens argenx’s immunology pipeline beyond its existing portfolio. argenx Forte acquisition details
• Positive Sentiment: Analyst sentiment remains supportive in parts of the market: Robert W. Baird raised its price target to $932, while HC Wainwright increased its earnings estimates. A separate Oppenheimer report had previously lifted its target to $1,037.
• Neutral Sentiment: Baird maintained a “neutral” rating despite the higher target, implying that the acquisition’s long-term value is not yet fully reflected in near-term expectations. Baird price target report
• Negative Sentiment: The all-cash $2.2 billion transaction represents a substantial capital commitment for a clinical-stage asset. Investors may be concerned about integration costs, future development spending and the risk that FB102’s early-stage results do not translate into successful late-stage trials or commercialization. One analysis consequently rated the stock “Hold.” Forte and argenx investment analysis

About argenex

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.