argenex SE (NASDAQ:ARGX) Receives Average Recommendation of “Moderate Buy” from Brokerages

argenex SE (NASDAQ:ARGX) has received an average rating of “Moderate Buy” from the twenty-four research firms that are presently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $1,017.7778.

Several equities analysts recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and issued a $1,000.00 price target on shares of argenex in a research report on Monday, March 9th. Guggenheim raised their price target on shares of argenex from $1,120.00 to $1,135.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Zacks Research raised shares of argenex from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. Royal Bank Of Canada dropped their price target on shares of argenex from $925.00 to $890.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Finally, Wall Street Zen cut shares of argenex from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th.

argenex Stock Performance

Shares of NASDAQ ARGX opened at $835.99 on Monday. argenex has a fifty-two week low of $510.05 and a fifty-two week high of $934.62. The stock has a market cap of $51.99 billion, a price-to-earnings ratio of 37.22, a PEG ratio of 1.32 and a beta of 0.47. The firm’s 50-day simple moving average is $779.30 and its 200 day simple moving average is $814.88.

argenex (NASDAQ:ARGX) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $5.52 earnings per share for the quarter. argenex had a net margin of 31.31% and a return on equity of 33.28%. The business had revenue of $1.31 billion for the quarter. On average, sell-side analysts predict that argenex will post 25.27 EPS for the current year.

Hedge Funds Weigh In On argenex

Large investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of argenex by 91.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,828 shares of the company’s stock worth $6,511,000 after purchasing an additional 4,217 shares during the period. American Century Companies Inc. raised its holdings in shares of argenex by 11.6% in the 3rd quarter. American Century Companies Inc. now owns 229,770 shares of the company’s stock worth $169,474,000 after purchasing an additional 23,864 shares during the period. Allianz Asset Management GmbH raised its holdings in shares of argenex by 21.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 3,671 shares of the company’s stock worth $2,708,000 after purchasing an additional 645 shares during the period. US Bancorp DE raised its holdings in shares of argenex by 37.2% in the 3rd quarter. US Bancorp DE now owns 7,073 shares of the company’s stock worth $5,217,000 after purchasing an additional 1,919 shares during the period. Finally, Sands Capital Management LLC bought a new stake in shares of argenex in the 3rd quarter worth approximately $12,262,000. Institutional investors own 60.32% of the company’s stock.

About argenex

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.