argenex SE (NASDAQ:ARGX) Given Average Recommendation of “Moderate Buy” by Brokerages

argenex SE (NASDAQ:ARGX) has been given an average rating of “Moderate Buy” by the twenty-four brokerages that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $1,037.6111.

A number of research analysts have commented on the stock. Glj Research raised shares of argenex to a “strong-buy” rating in a research report on Friday, April 3rd. HC Wainwright reiterated a “buy” rating and set a $940.00 price objective on shares of argenex in a research note on Thursday, June 25th. Oppenheimer cut their price objective on shares of argenex from $1,060.00 to $1,014.00 and set an “outperform” rating on the stock in a report on Thursday, April 2nd. Wedbush reissued an “outperform” rating and issued a $1,000.00 price objective on shares of argenex in a research note on Thursday, June 11th. Finally, Weiss Ratings raised shares of argenex from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, July 6th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Abound Wealth Management boosted its position in argenex by 3,200.0% during the fourth quarter. Abound Wealth Management now owns 33 shares of the company’s stock valued at $28,000 after purchasing an additional 32 shares in the last quarter. Sound Income Strategies LLC purchased a new position in argenex in the fourth quarter valued at about $28,000. Whipplewood Advisors LLC bought a new position in argenex in the first quarter worth about $28,000. Eastern Bank bought a new position in argenex in the second quarter worth about $32,000. Finally, Sunbelt Securities Inc. purchased a new stake in shares of argenex during the third quarter valued at about $36,000. 60.32% of the stock is owned by institutional investors.

argenex Trading Down 1.7%

Shares of argenex stock opened at $846.19 on Tuesday. The firm has a market cap of $52.94 billion, a P/E ratio of 37.68, a P/E/G ratio of 1.06 and a beta of 0.45. argenex has a 12 month low of $560.91 and a 12 month high of $953.58. The stock’s fifty day moving average price is $861.63 and its 200-day moving average price is $813.48.

argenex (NASDAQ:ARGX) last released its quarterly earnings data 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 44.37%. The company had revenue of $1.31 billion during the quarter. Analysts forecast that argenex will post 26.27 earnings per share for the current year.

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.