UBS Group Upgrades argenex (NASDAQ:ARGX) to Buy

argenex (NASDAQ:ARGX) was upgraded by research analysts at UBS Group from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday, MarketBeat Ratings reports. The firm currently has a $1,400.00 target price on the stock. UBS Group’s price objective would indicate a potential upside of 37.32% from the stock’s current price.

ARGX has been the subject of several other research reports. Citizens Jmp increased their target price on shares of argenex from $932.00 to $1,200.00 and gave the company a “market outperform” rating in a research note on Tuesday, August 18th. Citigroup boosted their price target on argenex from $1,152.00 to $1,182.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Truist Financial upped their price target on argenex from $1,030.00 to $1,095.00 and gave the company a “buy” rating in a report on Tuesday, August 18th. Deutsche Bank Aktiengesellschaft downgraded argenex from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Wedbush lifted their price objective on argenex from $1,050.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Tuesday, August 18th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,157.50.

argenex Price Performance

NASDAQ ARGX opened at $1,019.49 on Wednesday. argenex has a fifty-two week low of $661.85 and a fifty-two week high of $1,058.69. The stock’s 50-day moving average is $900.50 and its two-hundred day moving average is $829.46. The firm has a market cap of $63.78 billion, a P/E ratio of 39.15, a price-to-earnings-growth ratio of 1.05 and a beta of 0.46.

argenex (NASDAQ:ARGX) last posted its quarterly earnings data 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. argenex had a net margin of 32.19% and a return on equity of 43.59%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.45 billion. On average, equities analysts expect that argenex will post 29.04 EPS for the current year.

Institutional Trading of argenex

Several hedge funds have recently modified their holdings of ARGX. Sands Capital Management LLC raised its position in shares of argenex by 2,046.6% during the fourth quarter. Sands Capital Management LLC now owns 356,870 shares of the company’s stock worth $300,110,000 after acquiring an additional 340,245 shares during the last quarter. Invesco Ltd. increased its position in argenex by 390.4% in the fourth quarter. Invesco Ltd. now owns 416,408 shares of the company’s stock worth $350,178,000 after purchasing an additional 331,489 shares during the period. Wellington Management Group LLP increased its position in argenex by 80.1% in the third quarter. Wellington Management Group LLP now owns 729,986 shares of the company’s stock worth $538,408,000 after purchasing an additional 324,653 shares during the period. Two Sigma Investments LP increased its position in argenex by 570.3% in the third quarter. Two Sigma Investments LP now owns 294,160 shares of the company’s stock worth $216,961,000 after purchasing an additional 250,278 shares during the period. Finally, Corient Private Wealth LLC raised its holdings in argenex by 12,441.8% during the 4th quarter. Corient Private Wealth LLC now owns 246,572 shares of the company’s stock worth $207,355,000 after purchasing an additional 244,606 shares during the last quarter. 60.32% of the stock is owned by institutional investors.

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.