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 released on Sunday.

Several other brokerages also recently commented on ARGX. Royal Bank Of Canada cut their price objective on argenex from $925.00 to $890.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Truist Financial upped their price target on shares of argenex from $950.00 to $1,030.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Guggenheim reduced their price target on shares of argenex from $1,160.00 to $1,120.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Wolfe Research reiterated a “peer perform” rating on shares of argenex in a report on Monday, November 24th. Finally, Zacks Research raised shares of argenex from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, argenex presently has an average rating of “Moderate Buy” and an average target price of $999.22.

argenex Price Performance

Shares of NASDAQ ARGX opened at $717.80 on Friday. argenex has a 1 year low of $510.05 and a 1 year high of $934.62. The firm has a 50-day simple moving average of $815.53 and a two-hundred day simple moving average of $816.06. The company has a market cap of $44.42 billion, a P/E ratio of 36.77, a PEG ratio of 1.17 and a beta of 0.38.

argenex (NASDAQ:ARGX) last released its earnings results on Thursday, February 26th. The company reported $8.02 EPS for the quarter, beating analysts’ consensus estimates of $6.05 by $1.97. argenex had a return on equity of 38.51% and a net margin of 30.42%.The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.30 billion. As a group, equities research analysts expect that argenex will post 3.13 EPS for the current year.

Hedge Funds Weigh In On argenex

Several institutional investors have recently made changes to their positions in the company. Abound Wealth Management grew its holdings in argenex by 3,200.0% during the 4th quarter. Abound Wealth Management now owns 33 shares of the company’s stock worth $28,000 after acquiring an additional 32 shares in the last quarter. Sound Income Strategies LLC purchased a new position in argenex during the 4th quarter valued at about $28,000. Ameriflex Group Inc. bought a new stake in shares of argenex in the 3rd quarter valued at about $32,000. Aventura Private Wealth LLC bought a new stake in shares of argenex in the 4th quarter valued at about $38,000. Finally, Sunbelt Securities Inc. purchased a new stake in shares of argenex in the 3rd quarter worth approximately $36,000. Hedge funds and other institutional investors 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.