argenex (NASDAQ:ARGX) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of argenex (NASDAQ:ARGX) from a hold rating to a buy rating in a report released on Friday morning.

A number of other research analysts have also recently issued reports on the company. Zacks Research raised argenex from a “hold” rating to a “strong-buy” rating in a report on Monday, September 22nd. Stifel Nicolaus set a $882.00 price objective on shares of argenex in a research report on Thursday, September 18th. Piper Sandler boosted their target price on shares of argenex from $750.00 to $820.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 26th. Morgan Stanley upped their target price on shares of argenex from $766.00 to $1,040.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. raised their price target on shares of argenex from $775.00 to $830.00 and gave the company an “overweight” rating in a report on Monday, August 4th. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, argenex currently has an average rating of “Buy” and a consensus target price of $802.90.

argenex Price Performance

Shares of ARGX opened at $800.00 on Friday. The company has a market capitalization of $48.96 billion, a P/E ratio of 41.03, a PEG ratio of 0.86 and a beta of 0.46. argenex has a one year low of $510.05 and a one year high of $803.74. The business’s 50 day simple moving average is $702.97 and its 200-day simple moving average is $621.08.

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

Institutional Investors Weigh In On argenex

Several large investors have recently bought and sold shares of the company. Park Avenue Securities LLC grew its holdings in shares of argenex by 6.4% in the 1st quarter. Park Avenue Securities LLC now owns 1,804 shares of the company’s stock valued at $1,068,000 after buying an additional 109 shares during the period. Handelsbanken Fonder AB lifted its holdings in argenex by 13.1% during the first quarter. Handelsbanken Fonder AB now owns 38,050 shares of the company’s stock worth $22,520,000 after acquiring an additional 4,403 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in argenex by 215.8% in the first quarter. Assenagon Asset Management S.A. now owns 110,390 shares of the company’s stock valued at $65,336,000 after acquiring an additional 75,435 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of argenex by 41.6% in the first quarter. Janney Montgomery Scott LLC now owns 1,141 shares of the company’s stock worth $675,000 after acquiring an additional 335 shares in the last quarter. Finally, Sowell Financial Services LLC bought a new stake in shares of argenex in the first quarter worth about $332,000. Institutional investors own 60.32% of the company’s stock.

argenex Company Profile

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.