argenex (NASDAQ:ARGX) Stock Rating Lowered by Wall Street Zen

argenex (NASDAQ:ARGX) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

ARGX has been the topic of a number of other research reports. Stifel Nicolaus raised their price target on argenex from $1,028.00 to $1,248.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of argenex in a research report on Wednesday, October 8th. Piper Sandler boosted their target price on argenex from $820.00 to $930.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Royal Bank Of Canada upped their target price on argenex from $860.00 to $925.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Finally, Morgan Stanley lifted their price target on shares of argenex from $1,070.00 to $1,110.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $986.72.

argenex Price Performance

Shares of argenex stock opened at $788.49 on Friday. argenex has a 1 year low of $510.05 and a 1 year high of $934.62. The firm has a market cap of $48.55 billion, a PE ratio of 33.86, a PEG ratio of 0.50 and a beta of 0.38. The company has a 50 day simple moving average of $870.63 and a two-hundred day simple moving average of $753.45.

argenex (NASDAQ:ARGX) last issued its quarterly earnings results on Thursday, October 30th. The company reported $4.40 EPS for the quarter, topping analysts’ consensus estimates of $4.37 by $0.03. argenex had a net margin of 41.58% and a return on equity of 29.78%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.07 billion. As a group, research analysts anticipate that argenex will post 3.13 earnings per share for the current year.

Institutional Investors Weigh In On argenex

Several institutional investors have recently added to or reduced their stakes in ARGX. Ameriflex Group Inc. bought a new stake in argenex in the 3rd quarter worth $32,000. Aventura Private Wealth LLC purchased a new stake in shares of argenex during the fourth quarter worth about $38,000. Sunbelt Securities Inc. purchased a new stake in shares of argenex during the third quarter worth about $36,000. Bessemer Group Inc. grew its stake in shares of argenex by 276.5% in the third quarter. Bessemer Group Inc. now owns 64 shares of the company’s stock worth $47,000 after purchasing an additional 47 shares during the last quarter. Finally, Mather Group LLC. purchased a new position in argenex during the 3rd quarter valued at about $50,000. 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.