argenex (NASDAQ:ARGX) Upgraded at Zacks Research

Zacks Research upgraded shares of argenex (NASDAQ:ARGX) from a hold rating to a strong-buy rating in a report published on Monday,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. Guggenheim reissued a “buy” rating and issued a $1,070.00 price target on shares of argenex in a research note on Thursday, September 18th. Royal Bank Of Canada assumed coverage on shares of argenex in a research note on Monday, August 25th. They issued an “outperform” rating and a $850.00 target price on the stock. Wells Fargo & Company raised their target price on shares of argenex from $741.00 to $756.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft downgraded argenex from a “buy” rating to a “hold” rating in a research report on Thursday, September 11th. Finally, Truist Financial lifted their price objective on argenex from $700.00 to $918.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Three analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $789.20.

argenex Price Performance

NASDAQ ARGX opened at $729.76 on Monday. The company has a market cap of $44.66 billion, a PE ratio of 37.42, a price-to-earnings-growth ratio of 0.80 and a beta of 0.41. The stock’s 50 day simple moving average is $678.89 and its 200-day simple moving average is $613.60. argenex has a 1-year low of $510.05 and a 1-year high of $779.03.

argenex (NASDAQ:ARGX) last released its earnings results on Thursday, July 31st. The company reported $3.74 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.90. The business had revenue of $866.79 million for the quarter, compared to the consensus estimate of $776.82 million. argenex had a return on equity of 21.06% and a net margin of 40.98%. On average, equities research analysts anticipate that argenex will post 3.13 EPS for the current fiscal year.

Institutional Trading of argenex

A number of institutional investors and hedge funds have recently bought and sold shares of ARGX. Millennium Management LLC increased its stake in argenex by 316.9% during the 1st quarter. Millennium Management LLC now owns 268,604 shares of the company’s stock worth $158,977,000 after buying an additional 204,180 shares during the period. Adage Capital Partners GP L.L.C. increased its position in shares of argenex by 114.3% during the second quarter. Adage Capital Partners GP L.L.C. now owns 297,113 shares of the company’s stock worth $163,775,000 after acquiring an additional 158,476 shares during the period. Franklin Resources Inc. increased its position in shares of argenex by 103.9% during the second quarter. Franklin Resources Inc. now owns 279,803 shares of the company’s stock worth $154,233,000 after acquiring an additional 142,606 shares during the period. GAMMA Investing LLC increased its position in shares of argenex by 53,684.9% during the first quarter. GAMMA Investing LLC now owns 135,538 shares of the company’s stock worth $802,200,000 after acquiring an additional 135,286 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in argenex by 1,203.4% during the 1st quarter. BNP Paribas Financial Markets now owns 133,359 shares of the company’s stock worth $78,931,000 after purchasing an additional 123,127 shares during the period. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

About argenex

argenx SE, a biotechnology company, engages in the developing of various therapies for the treatment of autoimmune diseases in the United States, Japan, Europe, Middle East, Africa, and China. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, generalized myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, thyroid eye disease, bullous pemphigoid, myositis, primary sjögren’s syndrome, post-covid postural orthostatic tachycardia syndrome, membranous nephropathy, lupus nephropathy, anca-associated vasculitis, and antibody mediated rejection; ENHANZE SC; Empasiprubart for multifocal motor neuropath, delayed graft function, and dermatomyositis; and ARGX-119 for congenital myasthenic syndrome and amyotrophic lateral sclerosis.