argenex SE (NASDAQ:ARGX) Stock Rated “Moderate Buy” by Wall Street Brokerages

Shares of argenex SE (NASDAQ:ARGX) have been assigned an average recommendation of “Moderate Buy” from the twenty-four research firms that are presently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $1,158.61.

Several research firms have recently weighed in on ARGX. HC Wainwright boosted their price objective on shares of argenex from $940.00 to $1,202.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Robert W. Baird raised their target price on shares of argenex from $867.00 to $932.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Citigroup lifted their price target on argenex from $1,152.00 to $1,182.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Wedbush restated an “outperform” rating and issued a $1,150.00 price objective on shares of argenex in a research note on Thursday, September 3rd. Finally, Bank of America raised their price objective 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.

argenex Stock Performance

ARGX opened at $818.63 on Friday. argenex has a 52-week low of $661.85 and a 52-week high of $1,072.75. The firm has a market capitalization of $51.21 billion, a PE ratio of 31.44, a PEG ratio of 0.97 and a beta of 0.44. The business’s 50-day simple moving average is $960.50 and its 200 day simple moving average is $876.48.

argenex (NASDAQ:ARGX) last released its 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 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 analysts’ expectations of $1.45 billion. On average, research analysts forecast that argenex will post 28.83 earnings per share for the current year.

More argenex News

Here are the key news stories impacting argenex this week:

• Positive Sentiment: argenx reported positive topline Phase 2 results for FB102 in celiac disease. The study met its primary endpoint, with a statistically significant result, providing initial clinical evidence that the CD122 inhibitor may help prevent gluten-induced intestinal damage. The company plans to advance FB102 into Phase 3 development. argenx Announces Positive Topline Results from Phase 2 Study of FB102 in Celiac Disease
• Neutral Sentiment: The updates create a mixed picture for argenx: FB102 advances into development, but the company loses a major late-stage opportunity in Sjögren’s disease. The clinical setback could increase investor focus on the performance and durability of the company’s remaining Vyvgart franchise and pipeline programs. Argenx Halts Phase 3 Study in Rare Disease Following Futility Analysis
• Negative Sentiment: argenx will discontinue the Phase 3 UNITY study of subcutaneous efgartigimod (Vyvgart) in moderate-to-severe Sjögren’s disease after an interim analysis found the trial was futile. An independent monitoring committee recommended stopping the study because it was unlikely to demonstrate sufficient efficacy. The decision removes a potential indication for Vyvgart and led to heavy selling in ARGX shares. Argenx discontinues Vyvgart study in Sjögren’s disease, shares tumble
• Negative Sentiment: Investor-law-firm SueWallSt announced a potential investigation into whether argenx and its officers violated securities laws in connection with the trial discontinuation. The notice is an allegation and does not establish wrongdoing, but it adds headline and litigation risk following the clinical disappointment. argenx Investigation Notice

Institutional Investors Weigh In On argenex

Several hedge funds have recently added to or reduced their stakes in ARGX. Tidal Investments LLC raised its holdings in argenex by 97.8% in the 2nd quarter. Tidal Investments LLC now owns 2,362 shares of the company’s stock valued at $2,191,000 after acquiring an additional 1,168 shares during the period. Peregrine Capital Management LLC bought a new stake in shares of argenex during the second quarter worth approximately $27,584,000. Squarepoint Ops LLC boosted its holdings in shares of argenex by 314.8% during the second quarter. Squarepoint Ops LLC now owns 58,400 shares of the company’s stock worth $54,182,000 after acquiring an additional 44,321 shares during the period. Optiver Holding B.V. grew its position in shares of argenex by 907.0% in the first quarter. Optiver Holding B.V. now owns 10,110 shares of the company’s stock valued at $7,383,000 after purchasing an additional 9,106 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of argenex by 3.4% in the first quarter. Janus Henderson Group PLC now owns 2,541,732 shares of the company’s stock valued at $1,847,592,000 after purchasing an additional 83,568 shares during the last quarter. Institutional investors and hedge funds own 60.32% of the company’s stock.

About argenex

argenx SE (NASDAQ:ARGX) is a global immunology company focused on developing and commercializing therapies for patients with severe autoimmune diseases. The company combines antibody engineering technologies with disease biology to discover medicines that target the underlying mechanisms of immune-mediated disorders.

argenx’s leading product is efgartigimod, marketed as Vyvgart and Vyvgart Hytrulo in the United States. The therapies are designed to reduce disease-causing immunoglobulin G (IgG) antibodies by targeting the neonatal Fc receptor (FcRn).