argenex (NASDAQ:ARGX) Stock Rating Lowered by Wall Street Zen

argenex (NASDAQ:ARGX) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

A number of other equities research analysts also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reiterated a “neutral” rating on shares of argenex in a research report on Friday, October 9th. Robert W. Baird increased their price target on argenex from $823.00 to $861.00 and gave the stock a “neutral” rating in a research report on Friday. Royal Bank Of Canada lowered their price objective on argenex from $1,100.00 to $1,025.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 20th. Wells Fargo & Company dropped their price objective on argenex from $1,356.00 to $1,336.00 and set an “overweight” rating for the company in a report on Friday. Finally, DZ Bank reaffirmed a “buy” rating on shares of argenex in a report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,142.37.

argenex Stock Down 0.5%

Shares of argenex stock opened at $869.33 on Friday. argenex has a twelve month low of $661.85 and a twelve month high of $1,072.75. The company has a 50-day simple moving average of $953.35 and a two-hundred day simple moving average of $853.01. The stock has a market capitalization of $54.67 billion, a price-to-earnings ratio of 30.33, a price-to-earnings-growth ratio of 0.89 and a beta of 0.44.

argenex (NASDAQ:ARGX) last posted its quarterly earnings data on Friday, October 23rd. The company reported $7.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.44 by $0.36. argenex had a net margin of 31.66% and a return on equity of 47.70%. The firm had revenue of $1.75 billion during the quarter. On average, sell-side analysts anticipate that argenex will post 25.79 earnings per share for the current fiscal year.

Institutional Trading of argenex

Large investors have recently made changes to their positions in the company. Whipplewood Advisors LLC bought a new position in argenex in the first quarter valued at approximately $28,000. Eastern Bank bought a new stake in argenex during the second quarter worth $32,000. Axiom Investment Management LLC bought a new stake in argenex during the first quarter worth $50,000. WPG Advisers LLC lifted its stake in argenex by 17.8% during the first quarter. WPG Advisers LLC now owns 86 shares of the company’s stock worth $63,000 after purchasing an additional 13 shares during the last quarter. Finally, Mather Group LLC. boosted its holdings in shares of argenex by 19.1% in the 3rd quarter. Mather Group LLC. now owns 81 shares of the company’s stock valued at $78,000 after purchasing an additional 13 shares in the last quarter. Institutional investors and hedge funds own 60.32% of the company’s stock.

About argenex

argenx SE (NASDAQ: ARGX) is a global immunology company focused on developing and commercializing therapies for patients with severe autoimmune diseases. The company uses its antibody engineering capabilities to discover and advance medicines designed to target disease-causing immune mechanisms.

argenx’s lead product is VYVGART (efgartigimod alfa), an antibody fragment that targets the neonatal Fc receptor, or FcRn, to reduce levels of disease-causing immunoglobulin G antibodies. VYVGART is approved in several markets for the treatment of generalized myasthenia gravis.