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

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

Several other analysts have also issued reports on the company. Wells Fargo & Company increased their target price on argenex from $1,350.00 to $1,415.00 and gave the stock an “overweight” rating in a report on Wednesday, August 26th. Morgan Stanley boosted their price target on argenex from $1,230.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Monday, August 31st. Deutsche Bank Aktiengesellschaft cut shares of argenex from a “buy” rating to a “hold” rating in a research report on Monday, August 24th. Oppenheimer increased their price objective on shares of argenex from $1,014.00 to $1,037.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Finally, Royal Bank Of Canada raised their target price on shares of argenex from $1,025.00 to $1,100.00 and gave the company an “outperform” rating in a report on Tuesday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,158.61.

argenex Stock Performance

NASDAQ ARGX opened at $1,033.15 on Friday. argenex has a 1-year low of $661.85 and a 1-year high of $1,072.75. The company has a 50 day moving average of $928.88 and a 200-day moving average of $842.95. The company has a market cap of $64.63 billion, a price-to-earnings ratio of 39.68, a PEG ratio of 1.07 and a beta of 0.47.

argenex (NASDAQ:ARGX) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.86 by $1.46. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.45 billion. argenex had a return on equity of 43.59% and a net margin of 32.19%. On average, equities research analysts forecast that argenex will post 29.13 earnings per share for the current year.

Hedge Funds Weigh In On argenex

A number of institutional investors have recently modified their holdings of ARGX. HB Wealth Management LLC grew its position in argenex by 15.2% in the second quarter. HB Wealth Management LLC now owns 424 shares of the company’s stock valued at $394,000 after acquiring an additional 56 shares during the last quarter. Nilsine Partners LLC lifted its holdings in shares of argenex by 4.3% in the second quarter. Nilsine Partners LLC now owns 4,302 shares of the company’s stock worth $3,991,000 after acquiring an additional 176 shares during the last quarter. Syon Capital LLC boosted its stake in shares of argenex by 4.2% in the 2nd quarter. Syon Capital LLC now owns 1,017 shares of the company’s stock valued at $944,000 after purchasing an additional 41 shares in the last quarter. denkapparat Operations GmbH boosted its stake in shares of argenex by 126.4% in the 2nd quarter. denkapparat Operations GmbH now owns 910 shares of the company’s stock valued at $844,000 after purchasing an additional 508 shares in the last quarter. Finally, Concurrent Investment Advisors LLC grew its holdings in shares of argenex by 36.9% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 375 shares of the company’s stock valued at $347,000 after purchasing an additional 101 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.