argenex (NASDAQ:ARGX) Downgraded 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 report issued on Saturday morning,Wall Street Zen reports.

A number of other analysts have also weighed in on ARGX. Deutsche Bank Aktiengesellschaft lowered shares of argenex from a “buy” rating to a “hold” rating in a report on Monday, August 24th. Wells Fargo & Company upped their price target on shares of argenex from $1,350.00 to $1,415.00 and gave the stock an “overweight” rating in a report on Wednesday, August 26th. UBS Group upgraded argenex from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $960.00 to $1,400.00 in a research report on Wednesday, August 26th. Morgan Stanley lifted their price objective 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. Finally, Bank of America boosted their target price on argenex from $1,016.00 to $1,088.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Two equities research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,158.61.

argenex Stock Down 0.5%

Shares of NASDAQ ARGX opened at $990.32 on Friday. argenex has a 52 week low of $661.85 and a 52 week high of $1,072.75. The business has a 50-day simple moving average of $942.14 and a two-hundred day simple moving average of $853.55. The company has a market cap of $61.95 billion, a P/E ratio of 38.03, a P/E/G ratio of 1.02 and a beta of 0.47.

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

Hedge Funds Weigh In On argenex

A number of institutional investors have recently made changes to their positions in the stock. Whipplewood Advisors LLC purchased a new stake in shares of argenex during the 1st quarter valued at $28,000. Eastern Bank purchased a new position in argenex in the second quarter worth $32,000. Axiom Investment Management LLC bought a new position in argenex in the first quarter valued at $50,000. WPG Advisers LLC boosted its holdings in shares of argenex by 17.8% in the 1st quarter. WPG Advisers LLC now owns 86 shares of the company’s stock worth $63,000 after purchasing an additional 13 shares in the last quarter. Finally, TD Private Client Wealth LLC boosted its holdings in shares of argenex by 29.4% in the 4th quarter. TD Private Client Wealth LLC now owns 110 shares of the company’s stock worth $93,000 after purchasing an additional 25 shares in the last quarter. Institutional investors own 60.32% of the company’s stock.

About argenex

argenx SE is a global biopharmaceutical company focused on developing and commercializing antibody-based medicines for patients with severe autoimmune diseases. The company’s research is centered on its antibody engineering technologies, including the SIMPLE Antibody platform and NHance technology, which are designed to identify and enhance therapeutic antibodies.

argenx’s leading product is VYVGART (efgartigimod alfa), an antibody fragment that targets the neonatal Fc receptor, or FcRn, to reduce disease-causing immunoglobulin G antibodies.