argenex (NASDAQ:ARGX) Upgraded to “Buy” at Wall Street Zen

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

A number of other equities analysts have also weighed in on the company. Royal Bank Of Canada lifted their price objective on argenex from $1,025.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Tuesday, August 18th. Morgan Stanley raised their target price on argenex from $1,230.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Monday, August 31st. Piper Sandler lifted their price target on argenex from $1,075.00 to $1,215.00 and gave the company an “overweight” rating in a research report on Monday, August 17th. HC Wainwright lifted their price target on argenex from $940.00 to $1,202.00 and gave the company a “buy” rating in a research report on Tuesday, August 18th. Finally, Deutsche Bank Aktiengesellschaft downgraded argenex from a “buy” rating to a “hold” rating in a report on Monday, August 24th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,158.61.

argenex Price Performance

ARGX stock opened at $1,033.15 on Friday. The company has a market capitalization of $64.63 billion, a P/E ratio of 39.68, a price-to-earnings-growth ratio of 1.07 and a beta of 0.47. argenex has a 12 month low of $661.85 and a 12 month high of $1,072.75. The firm’s fifty day simple moving average is $926.47 and its 200-day simple moving average is $841.62.

argenex (NASDAQ:ARGX) last issued its earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.86 by $1.46. The firm 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%. As a group, sell-side analysts forecast that argenex will post 29.13 earnings per share for the current year.

Hedge Funds Weigh In On argenex

A number of large investors have recently bought and sold shares of ARGX. PNC Financial Services Group Inc. increased its holdings in shares of argenex by 65.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the company’s stock worth $2,713,000 after buying an additional 1,280 shares during the last quarter. Peregrine Capital Management LLC acquired a new position in argenex in the second quarter valued at approximately $27,584,000. Optiver Holding B.V. grew its position in argenex by 907.0% in the first quarter. Optiver Holding B.V. now owns 10,110 shares of the company’s stock worth $7,383,000 after acquiring an additional 9,106 shares during the period. Bessemer Group Inc. grew its position in argenex by 2.7% in the first quarter. Bessemer Group Inc. now owns 64,251 shares of the company’s stock worth $46,920,000 after acquiring an additional 1,714 shares during the period. Finally, Eagle Health Investments LP increased its stake in argenex by 21.7% during the first quarter. Eagle Health Investments LP now owns 76,336 shares of the company’s stock worth $55,744,000 after acquiring an additional 13,606 shares during the last quarter. Institutional investors and hedge funds own 60.32% of the company’s stock.

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.