argenex (NASDAQ:ARGX) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of argenex (NASDAQ:ARGX) from a buy rating to a hold rating in a research report released on Saturday.

A number of other equities research analysts have also recently weighed in on ARGX. Citigroup boosted their price target on shares of argenex from $1,152.00 to $1,182.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. HC Wainwright reaffirmed a “buy” rating and set a $940.00 price objective on shares of argenex in a report on Thursday, June 25th. Weiss Ratings cut argenex from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, July 23rd. Wells Fargo & Company boosted their target price on argenex from $1,260.00 to $1,291.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Finally, Bank of America upped their target price on argenex from $1,016.00 to $1,088.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,056.89.

argenex Trading Down 0.7%

Shares of NASDAQ:ARGX opened at $851.29 on Friday. The firm has a 50 day simple moving average of $881.73 and a 200-day simple moving average of $821.20. argenex has a twelve month low of $645.16 and a twelve month high of $953.58. The company has a market capitalization of $53.26 billion, a PE ratio of 32.69, a P/E/G ratio of 1.05 and a beta of 0.46.

argenex (NASDAQ:ARGX) last posted its earnings results on Tuesday, July 21st. The company reported $7.32 EPS for the quarter, beating analysts’ consensus estimates of $5.86 by $1.46. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.45 billion. argenex had a net margin of 32.19% and a return on equity of 43.59%. As a group, equities research analysts predict that argenex will post 28.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC raised its holdings in shares of argenex by 32.1% in the first quarter. AQR Capital Management LLC now owns 502 shares of the company’s stock valued at $297,000 after buying an additional 122 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of argenex by 5,962.5% during the first quarter. NewEdge Advisors LLC now owns 1,455 shares of the company’s stock worth $862,000 after buying an additional 1,431 shares during the period. Focus Partners Wealth grew its holdings in shares of argenex by 22.3% during the first quarter. Focus Partners Wealth now owns 400 shares of the company’s stock worth $237,000 after buying an additional 73 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of argenex by 550.0% during the first quarter. Geneos Wealth Management Inc. now owns 117 shares of the company’s stock worth $69,000 after buying an additional 99 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in argenex by 60.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 133 shares of the company’s stock valued at $73,000 after acquiring an additional 50 shares during the period. 60.32% of the stock is owned by hedge funds and other institutional investors.

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.