argenex (NASDAQ:ARGX) Cut to Hold at Zacks Research

Zacks Research lowered shares of argenex (NASDAQ:ARGX) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

Several other brokerages have also issued reports on ARGX. Stifel Nicolaus set a $882.00 target price on argenex in a research report on Thursday, September 18th. Jefferies Financial Group set a $818.00 target price on shares of argenex and gave the stock a “buy” rating in a research report on Tuesday, August 26th. Bank of America raised their target price on shares of argenex from $880.00 to $887.00 and gave the stock a “buy” rating in a research report on Tuesday, September 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of argenex in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of argenex from $775.00 to $830.00 and gave the stock an “overweight” rating in a research report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $817.53.

argenex Price Performance

Shares of NASDAQ:ARGX opened at $812.18 on Tuesday. argenex has a 1 year low of $510.05 and a 1 year high of $855.46. The business has a 50 day simple moving average of $749.39 and a two-hundred day simple moving average of $642.73. The firm has a market capitalization of $50.01 billion, a PE ratio of 41.65, a price-to-earnings-growth ratio of 0.88 and a beta of 0.46.

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

Hedge Funds Weigh In On argenex

Hedge funds and other institutional investors have recently modified their holdings of the business. WPG Advisers LLC bought a new position in shares of argenex during the first quarter valued at approximately $37,000. Mather Group LLC. bought a new position in shares of argenex during the third quarter valued at approximately $50,000. Golden State Wealth Management LLC bought a new position in shares of argenex during the first quarter valued at approximately $44,000. Brooklyn Investment Group boosted its stake in argenex by 102.7% in the first quarter. Brooklyn Investment Group now owns 75 shares of the company’s stock valued at $44,000 after acquiring an additional 38 shares in the last quarter. Finally, MAI Capital Management boosted its stake in argenex by 866.7% in the second quarter. MAI Capital Management now owns 87 shares of the company’s stock valued at $48,000 after acquiring an additional 78 shares in the last quarter. 60.32% of the stock is currently owned by institutional investors.

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.