argenex (NASDAQ:ARGX) Upgraded by Wall Street Zen to “Buy” Rating

argenex (NASDAQ:ARGX) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

A number of other equities analysts have also recently weighed in on the stock. Truist Financial lifted their price target on shares of argenex from $950.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Citigroup dropped their price objective on argenex from $1,124.00 to $1,091.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Stifel Nicolaus boosted their target price on argenex from $1,028.00 to $1,248.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Weiss Ratings restated a “hold (c)” rating on shares of argenex in a report on Wednesday, January 21st. Finally, HC Wainwright lifted their price objective on argenex from $774.00 to $915.00 and gave the company a “buy” rating in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, argenex currently has an average rating of “Moderate Buy” and a consensus price target of $986.78.

argenex Price Performance

Shares of ARGX stock opened at $840.50 on Friday. The stock has a market cap of $52.01 billion, a PE ratio of 36.09, a price-to-earnings-growth ratio of 0.56 and a beta of 0.38. The stock has a 50-day moving average of $852.12 and a 200-day moving average of $781.37. argenex has a one year low of $510.05 and a one year high of $934.62.

argenex (NASDAQ:ARGX) last issued its quarterly earnings data on Thursday, October 30th. The company reported $4.40 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations 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

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Abound Wealth Management boosted its position 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 during the last quarter. Sound Income Strategies LLC bought a new stake in shares of argenex in the fourth quarter worth $28,000. Ameriflex Group Inc. bought a new stake in shares of argenex in the third quarter worth $32,000. Aventura Private Wealth LLC acquired a new position in argenex during the fourth quarter worth $38,000. Finally, Sunbelt Securities Inc. bought a new position in argenex in the third quarter valued at $36,000. Institutional investors and hedge funds 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.